Sigma Lithium Corporation (NASDAQ:SGML) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Sigma Lithium, with two sell, one hold, and three buy recommendations. The average 12-month price target is $18.50.
• Bank of America upgraded the stock to “Buy” and raised its target to $17, while other analysts delivered mixed changes, including a downgrade from Zacks Research and a reaffirmed sell rating from Weiss Ratings.
• Shares opened at $9.63, well below their 52-week high of $24.48. Sigma Lithium met quarterly EPS expectations at $0.10, but revenue of $16.9 million fell significantly short of the $42.48 million consensus estimate.

Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report) has been assigned an average rating of "Hold" from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $18.50.

Several research analysts have weighed in on the stock. Wall Street Zen raised shares of Sigma Lithium from a "hold" rating to a "buy" rating in a report on Sunday, June 21st. Zacks Research lowered shares of Sigma Lithium from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Sigma Lithium in a research report on Wednesday, June 24th. Finally, Bank of America upgraded Sigma Lithium from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $14.00 to $17.00 in a research note on Thursday, April 2nd.

Sigma Lithium Stock Performance

Shares of SGML opened at $9.63 on Monday. The company has a market capitalization of $1.08 billion, a P/E ratio of -24.69 and a beta of 0.58. Sigma Lithium has a one year low of $4.61 and a one year high of $24.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.25 and a current ratio of 0.32. The stock has a 50-day moving average price of $13.24 and a 200 day moving average price of $14.22.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $16.90 million for the quarter, compared to the consensus estimate of $42.48 million. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%. Sell-side analysts forecast that Sigma Lithium will post 1.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Polymer Capital Management HK LTD acquired a new stake in shares of Sigma Lithium during the 4th quarter valued at approximately $660,000. Encompass Capital Advisors LLC bought a new position in Sigma Lithium during the fourth quarter worth $16,463,000. Keystone Investors PTE Ltd. acquired a new position in Sigma Lithium in the fourth quarter worth $1,103,000. Handelsbanken Fonder AB boosted its holdings in Sigma Lithium by 37.9% in the fourth quarter. Handelsbanken Fonder AB now owns 888,544 shares of the company's stock worth $11,720,000 after purchasing an additional 244,310 shares during the period. Finally, Legal & General Group Plc increased its stake in Sigma Lithium by 101.7% during the fourth quarter. Legal & General Group Plc now owns 2,647,004 shares of the company's stock valued at $34,911,000 after purchasing an additional 1,334,772 shares during the last quarter. Institutional investors own 64.86% of the company's stock.

Sigma Lithium Company Profile

Sigma Lithium Corp. is a Canada-based mineral exploration and development company focused on the sustainable production of battery-grade lithium from hard rock deposits. The company’s flagship asset is the Grota do Cirilo lithium project, located in the state of Minas Gerais, Brazil. Grota do Cirilo comprises a fully permitted, low-altitude spodumene mine and processing plant designed to produce high-purity lithium concentrate and downstream lithium hydroxide for the global electric vehicle and energy storage markets.

Since its founding in 2018, Sigma Lithium has pursued a vertically integrated approach, overseeing each stage of production from ore extraction and beneficiation to chemical conversion.

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