Sourcerock Group LLC Buys 437,010 Shares of Sigma Lithium Co. (NASDAQ:SGML)

Sourcerock Group LLC boosted its stake in Sigma Lithium Co. (NASDAQ:SGML - Free Report) by 46.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,387,222 shares of the company's stock after purchasing an additional 437,010 shares during the quarter. Sigma Lithium comprises about 1.1% of Sourcerock Group LLC's investment portfolio, making the stock its 19th largest holding. Sourcerock Group LLC owned about 1.25% of Sigma Lithium worth $15,565,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Alliancebernstein L.P. increased its holdings in shares of Sigma Lithium by 10.9% in the fourth quarter. Alliancebernstein L.P. now owns 17,390 shares of the company's stock worth $195,000 after acquiring an additional 1,710 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in shares of Sigma Lithium during the fourth quarter worth about $27,000. U S Global Investors Inc. boosted its position in shares of Sigma Lithium by 233.3% during the fourth quarter. U S Global Investors Inc. now owns 10,000 shares of the company's stock worth $112,000 after buying an additional 7,000 shares during the period. Boothbay Fund Management LLC boosted its position in shares of Sigma Lithium by 16.8% during the fourth quarter. Boothbay Fund Management LLC now owns 85,703 shares of the company's stock worth $962,000 after buying an additional 12,308 shares during the period. Finally, Pictet Asset Management Holding SA acquired a new position in shares of Sigma Lithium during the fourth quarter worth about $142,000. Institutional investors own 64.86% of the company's stock.

Sigma Lithium Stock Up 8.2%

NASDAQ SGML traded up $0.45 during trading hours on Thursday, hitting $5.94. 2,051,746 shares of the company traded hands, compared to its average volume of 790,049. The business's 50-day moving average is $8.46 and its 200-day moving average is $10.77. Sigma Lithium Co. has a twelve month low of $5.24 and a twelve month high of $17.30. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.72 and a current ratio of 0.84. The stock has a market capitalization of $661.00 million, a price-to-earnings ratio of -12.37 and a beta of 0.30.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last released its quarterly earnings data on Monday, March 31st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.14). The business had revenue of $46.70 million during the quarter, compared to analyst estimates of $71.77 million. Sigma Lithium had a negative net margin of 36.85% and a negative return on equity of 38.04%. Sell-side analysts anticipate that Sigma Lithium Co. will post -0.12 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Sigma Lithium from a "sell" rating to a "hold" rating in a research report on Thursday.

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.