Sigma Lithium Co. (NASDAQ:SGML) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp boosted its position in shares of Sigma Lithium Co. (NASDAQ:SGML - Free Report) by 13.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 887,543 shares of the company's stock after purchasing an additional 104,630 shares during the period. Van ECK Associates Corp owned 0.81% of Sigma Lithium worth $28,791,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SGML. Activest Wealth Management bought a new position in Sigma Lithium during the third quarter valued at about $35,000. Quantbot Technologies LP bought a new position in Sigma Lithium during the second quarter valued at about $38,000. Royal Bank of Canada increased its stake in shares of Sigma Lithium by 51.4% in the second quarter. Royal Bank of Canada now owns 4,320 shares of the company's stock worth $174,000 after purchasing an additional 1,467 shares during the period. Marshall Wace LLP bought a new position in shares of Sigma Lithium in the third quarter worth about $202,000. Finally, Millennium Management LLC bought a new position in shares of Sigma Lithium in the second quarter worth about $203,000. Institutional investors and hedge funds own 19.26% of the company's stock.

Sigma Lithium Stock Performance

SGML traded up $0.17 on Thursday, hitting $13.23. 340,295 shares of the stock traded hands, compared to its average volume of 1,526,088. Sigma Lithium Co. has a 52 week low of $12.48 and a 52 week high of $43.18. The company has a current ratio of 1.54, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.46 billion, a PE ratio of -17.89 and a beta of 0.52. The business has a fifty day moving average price of $26.68 and a two-hundred day moving average price of $29.52.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last issued its quarterly earnings results on Tuesday, November 14th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.19). The company had revenue of $96.86 million during the quarter, compared to analysts' expectations of $117.86 million. On average, research analysts predict that Sigma Lithium Co. will post 0.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Bank of America reiterated a "buy" rating and issued a $37.00 price objective on shares of Sigma Lithium in a research note on Wednesday, December 6th. BMO Capital Markets dropped their price objective on Sigma Lithium from $40.00 to $38.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 23rd.

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.

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