Van ECK Associates Corp Cuts Stake in Sigma Lithium Co. (NASDAQ:SGML)

Van ECK Associates Corp reduced its holdings in shares of Sigma Lithium Co. (NASDAQ:SGML - Free Report) by 18.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 719,536 shares of the company's stock after selling 168,007 shares during the quarter. Van ECK Associates Corp owned 0.65% of Sigma Lithium worth $22,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. purchased a new stake in Sigma Lithium during the third quarter valued at $9,605,000. Citigroup Inc. bought a new stake in shares of Sigma Lithium during the 3rd quarter valued at $423,000. Nucleo Capital LTDA. increased its stake in shares of Sigma Lithium by 10.5% in the 3rd quarter. Nucleo Capital LTDA. now owns 2,796,227 shares of the company's stock worth $90,710,000 after purchasing an additional 266,298 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in Sigma Lithium by 9.2% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 643,879 shares of the company's stock valued at $20,988,000 after purchasing an additional 54,268 shares in the last quarter. Finally, Old West Investment Management LLC grew its holdings in Sigma Lithium by 1,053.8% during the third quarter. Old West Investment Management LLC now owns 150,000 shares of the company's stock valued at $4,866,000 after purchasing an additional 137,000 shares during the period. 64.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SGML has been the topic of a number of analyst reports. Bank of America lifted their price objective on Sigma Lithium from $27.00 to $29.00 and gave the company a "buy" rating in a research report on Monday, March 18th. BMO Capital Markets reduced their price objective on shares of Sigma Lithium from $38.00 to $30.00 and set an "outperform" rating for the company in a research note on Wednesday, March 27th.

Sigma Lithium Price Performance

SGML stock traded up $0.58 during midday trading on Wednesday, hitting $14.95. The company's stock had a trading volume of 717,371 shares, compared to its average volume of 1,295,851. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -19.68 and a beta of 0.29. The company has a quick ratio of 1.32, a current ratio of 1.54 and a debt-to-equity ratio of 0.02. Sigma Lithium Co. has a 12 month low of $10.46 and a 12 month high of $43.18. The company has a 50 day moving average of $13.79 and a two-hundred day moving average of $21.32.

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.