Sigma Lithium Co. (NASDAQ:SGML - Free Report) - Cormark lifted their Q1 2024 earnings per share estimates for Sigma Lithium in a report released on Tuesday, April 9th. Cormark analyst M. Whale now expects that the company will post earnings of $0.01 per share for the quarter, up from their previous estimate of ($0.06). The consensus estimate for Sigma Lithium's current full-year earnings is $0.03 per share. Cormark also issued estimates for Sigma Lithium's Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.13 EPS, Q4 2024 earnings at $0.17 EPS, FY2024 earnings at $0.35 EPS and FY2025 earnings at $1.88 EPS.
Other analysts have also recently issued reports about the company. Bank of America boosted their price target on Sigma Lithium from $27.00 to $29.00 and gave the stock a "buy" rating in a research report on Monday, March 18th. BMO Capital Markets dropped their price target on Sigma Lithium from $38.00 to $30.00 and set an "outperform" rating for the company in a research report on Wednesday, March 27th.
Read Our Latest Analysis on Sigma Lithium
Sigma Lithium Price Performance
Shares of SGML traded down $0.95 during trading hours on Friday, hitting $14.65. 1,004,761 shares of the stock were exchanged, compared to its average volume of 1,403,439. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.54. Sigma Lithium has a 12-month low of $10.46 and a 12-month high of $43.18. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -20.07 and a beta of 0.29. The stock's 50-day moving average price is $13.86 and its two-hundred day moving average price is $22.72.
Institutional Trading of Sigma Lithium
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Sigma Lithium by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 53,124 shares of the company's stock valued at $1,675,000 after buying an additional 2,939 shares in the last quarter. Electron Capital Partners LLC purchased a new stake in Sigma Lithium in the 4th quarter valued at $69,703,000. Mint Tower Capital Management B.V. purchased a new stake in Sigma Lithium in the 4th quarter valued at $205,000. Gotham Asset Management LLC purchased a new stake in Sigma Lithium in the 4th quarter valued at $531,000. Finally, Cantor Fitzgerald L. P. purchased a new stake in Sigma Lithium in the 4th quarter valued at $1,548,000. 64.86% of the stock is currently owned by hedge funds and other institutional investors.
About Sigma Lithium
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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.
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