Sigma Lithium (NASDAQ:SGML) Upgraded by Cormark to Moderate Buy Rating

Key Points

• Sigma Lithium was upgraded by Cormark to a "moderate buy" rating, reflecting positive market sentiment towards the stock.
• In contrast, Wall Street Zen downgraded the stock from "hold" to "sell," underscoring mixed analyst opinions on its future performance.
• The company's recent earnings report revealed a significant miss on revenue estimates, posting only $16.89 million against expectations of $50.44 million.

Sigma Lithium (NASDAQ:SGML - Get Free Report) was upgraded by equities research analysts at Cormark to a "moderate buy" rating in a research note issued to investors on Thursday,Zacks.com reports.

Separately, Wall Street Zen lowered Sigma Lithium from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $16.00.

Sigma Lithium Stock Up 0.2%

SGML stock opened at $5.95 on Thursday. Sigma Lithium has a 52-week low of $4.25 and a 52-week high of $15.56. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.60 and a quick ratio of 0.67. The firm has a market capitalization of $662.29 million, a P/E ratio of -13.52 and a beta of 0.07. The company's 50 day simple moving average is $5.60 and its 200-day simple moving average is $7.74.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.14). The business had revenue of $16.89 million for the quarter, compared to analyst estimates of $50.44 million. Sigma Lithium had a negative return on equity of 47.19% and a negative net margin of 35.69%. As a group, equities research analysts anticipate that Sigma Lithium will post -0.12 EPS for the current year.

Institutional Trading of Sigma Lithium

A number of hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Sigma Lithium by 67.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 74,425 shares of the company's stock worth $774,000 after acquiring an additional 30,075 shares during the period. Lighthouse Investment Partners LLC raised its holdings in shares of Sigma Lithium by 78.7% in the 4th quarter. Lighthouse Investment Partners LLC now owns 247,576 shares of the company's stock worth $2,778,000 after buying an additional 109,064 shares in the last quarter. Sourcerock Group LLC lifted its position in shares of Sigma Lithium by 46.0% during the 4th quarter. Sourcerock Group LLC now owns 1,387,222 shares of the company's stock worth $15,565,000 after buying an additional 437,010 shares during the period. BNP Paribas Financial Markets acquired a new stake in Sigma Lithium in the 4th quarter valued at $185,000. Finally, Point72 Asset Management L.P. boosted its stake in Sigma Lithium by 349.0% in the 4th quarter. Point72 Asset Management L.P. now owns 405,274 shares of the company's stock valued at $4,547,000 after buying an additional 315,008 shares in the last quarter. Institutional investors own 64.86% of the company's stock.

Sigma Lithium Company 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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