Amundi Purchases New Stake in Sigma Lithium Corporation $SGML

Key Points

• Amundi has invested approximately $2.48 million in Sigma Lithium Corporation by acquiring 238,234 shares, which represents about 0.21% of the company.
• Despite significant investments from various institutional investors, including a 349.0% increase in stake by Point72 Asset Management, Sigma Lithium's stock shows mixed analyst ratings.
• The company reported a quarterly loss of ($0.17) EPS, falling short of the expected ($0.03), with revenues also significantly below analyst estimates.

Amundi purchased a new position in shares of Sigma Lithium Corporation (NASDAQ:SGML - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 238,234 shares of the company's stock, valued at approximately $2,478,000. Amundi owned approximately 0.21% of Sigma Lithium at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SGML. Teacher Retirement System of Texas purchased a new stake in Sigma Lithium in the first quarter valued at approximately $109,000. GAMMA Investing LLC purchased a new stake in Sigma Lithium in the first quarter valued at approximately $139,000. Squarepoint Ops LLC purchased a new stake in Sigma Lithium in the fourth quarter valued at approximately $150,000. BNP Paribas Financial Markets purchased a new stake in Sigma Lithium in the fourth quarter valued at approximately $185,000. Finally, Inscription Capital LLC purchased a new stake in Sigma Lithium in the first quarter valued at approximately $208,000. 64.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Cormark upgraded shares of Sigma Lithium to a "moderate buy" rating in a report on Thursday, August 21st. Bank of America began coverage on shares of Sigma Lithium in a research note on Tuesday, August 26th. They set a "buy" rating and a $12.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Sigma Lithium from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $12.00.

Sigma Lithium Stock Up 7.4%

Shares of NASDAQ SGML traded up $0.40 during trading on Monday, reaching $5.81. 2,550,542 shares of the stock were exchanged, compared to its average volume of 1,550,414. The business's 50-day moving average price is $6.03 and its 200 day moving average price is $7.11. Sigma Lithium Corporation has a twelve month low of $4.25 and a twelve month high of $15.56. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $646.71 million, a price-to-earnings ratio of -13.20 and a beta of 0.09.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.14). Sigma Lithium had a negative return on equity of 47.19% and a negative net margin of 35.69%.The firm had revenue of $16.89 million for the quarter, compared to analyst estimates of $50.44 million. As a group, equities analysts forecast that Sigma Lithium Corporation will post -0.12 EPS for the current fiscal year.

Sigma Lithium Profile

Sigma Lithium Corporation engages in the exploration and development of lithium deposits in Brazil. It holds a 100% interest in the Grota do Cirilo, Genipapo, Santa Clara, and São José properties comprising 29 mineral rights covering an area of approximately 185 square kilometers located in the Araçuaí and Itinga regions of the state of Minas Gerais, Brazil.