BlackRock Inc. Takes Position in Sigma Lithium Corporation $SGML

Key Points

• BlackRock acquired 2.35 million Sigma Lithium shares worth approximately $29.7 million, giving it a 2.09% stake in the company.
• Other institutional investors also increased their holdings, and institutional investors and hedge funds now own 64.86% of Sigma Lithium’s stock.
• Shares opened at $12.26 after declining 3%; the company missed quarterly earnings and revenue estimates, while analyst sentiment remains mixed with a consensus “Hold” rating and an $18.50 price target.

BlackRock Inc. acquired a new position in shares of Sigma Lithium Corporation (NASDAQ:SGML - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,349,991 shares of the company's stock, valued at approximately $29,727,000. BlackRock Inc. owned 2.09% of Sigma Lithium as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in SGML. Woodline Partners LP lifted its stake in Sigma Lithium by 26.6% during the third quarter. Woodline Partners LP now owns 2,964,909 shares of the company's stock worth $19,005,000 after purchasing an additional 623,832 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Sigma Lithium by 101.7% in the fourth quarter. Legal & General Group Plc now owns 2,647,004 shares of the company's stock valued at $34,911,000 after buying an additional 1,334,772 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Sigma Lithium by 24.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,550,713 shares of the company's stock valued at $7,091,000 after buying an additional 309,338 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Sigma Lithium by 23.2% in the 2nd quarter. Handelsbanken Fonder AB now owns 1,498,133 shares of the company's stock valued at $18,951,000 after buying an additional 282,595 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Sigma Lithium by 42.3% in the 3rd quarter. Invesco Ltd. now owns 1,280,443 shares of the company's stock valued at $8,208,000 after buying an additional 380,498 shares during the period. Institutional investors and hedge funds own 64.86% of the company's stock.

Sigma Lithium Trading Down 3.0%

SGML opened at $12.26 on Wednesday. The business has a fifty day moving average price of $11.35 and a 200 day moving average price of $13.84. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.34 and a quick ratio of 0.25. Sigma Lithium Corporation has a 12 month low of $4.61 and a 12 month high of $24.48. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -51.08 and a beta of 0.64.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.25). Sigma Lithium had a negative net margin of 19.36% and a negative return on equity of 37.40%. The company had revenue of $54.70 million during the quarter, compared to analyst estimates of $68.34 million. Sell-side analysts expect that Sigma Lithium Corporation will post 0.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen downgraded Sigma Lithium from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Zacks Research cut shares of Sigma Lithium from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 19th. Finally, Weiss Ratings lowered shares of Sigma Lithium from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $18.50.

About Sigma Lithium

Sigma Lithium Corp. is a Canada-based mineral exploration and development company focused on the sustainable production of battery-grade lithium from hard rock deposits. The company’s flagship asset is the Grota do Cirilo lithium project, located in the state of Minas Gerais, Brazil. Grota do Cirilo comprises a fully permitted, low-altitude spodumene mine and processing plant designed to produce high-purity lithium concentrate and downstream lithium hydroxide for the global electric vehicle and energy storage markets.

Since its founding in 2018, Sigma Lithium has pursued a vertically integrated approach, overseeing each stage of production from ore extraction and beneficiation to chemical conversion.

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