Nuveen LLC Takes Position in Sigma Lithium Corporation $SGML

Key Points

• Nuveen LLC has purchased 52,879 shares of Sigma Lithium Corporation, valued at approximately $550,000, marking a new position for the institutional investor.
• Wealth Enhancement Advisory Services LLC significantly increased its holdings in Sigma Lithium by 67.8% during the first quarter, now owning 74,425 shares worth $774,000.
• Analysts have mixed ratings on Sigma Lithium, with a consensus "Buy" rating and a price target of $12.00, although some firms have downgraded their assessments recently.

Nuveen LLC bought a new stake in shares of Sigma Lithium Corporation (NASDAQ:SGML - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 52,879 shares of the company's stock, valued at approximately $550,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SGML. Aquatic Capital Management LLC acquired a new position in shares of Sigma Lithium during the 4th quarter valued at $27,000. Teacher Retirement System of Texas acquired a new position in shares of Sigma Lithium during the 1st quarter valued at $109,000. GAMMA Investing LLC acquired a new position in shares of Sigma Lithium during the 1st quarter valued at $139,000. Squarepoint Ops LLC acquired a new position in Sigma Lithium in the 4th quarter worth $150,000. Finally, BNP Paribas Financial Markets acquired a new position in Sigma Lithium in the 4th quarter worth $185,000. Institutional investors and hedge funds own 64.86% of the company's stock.

Sigma Lithium Trading Down 6.7%

Shares of NASDAQ:SGML traded down $0.42 during mid-day trading on Tuesday, hitting $5.82. The stock had a trading volume of 1,104,912 shares, compared to its average volume of 1,525,232. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.39 and a current ratio of 0.60. The company has a market cap of $648.27 million, a PE ratio of -13.20 and a beta of 0.09. Sigma Lithium Corporation has a 12-month low of $4.25 and a 12-month high of $15.56. The company's 50 day moving average is $5.97 and its 200-day moving average is $7.28.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.14). The firm had revenue of $16.89 million during the quarter, compared to analysts' expectations of $50.44 million. Sigma Lithium had a negative net margin of 35.69% and a negative return on equity of 47.19%. On average, sell-side analysts predict that Sigma Lithium Corporation will post -0.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on SGML. Bank of America started coverage on shares of Sigma Lithium in a report on Tuesday, August 26th. They issued a "buy" rating and a $12.00 price objective on the stock. Wall Street Zen downgraded shares of Sigma Lithium from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Finally, Cormark raised shares of Sigma Lithium to a "moderate buy" rating in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Sigma Lithium currently has an average rating of "Buy" and an average target price of $12.00.

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.