Sigma Lithium (NASDAQ:SGML) Upgraded to “Buy” at Zacks Investment Research

Sigma Lithium (NASDAQ:SGMLGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday, Zacks.com reports. The firm currently has a $18.00 price target on the stock. Zacks Investment Research‘s price target suggests a potential upside of 13.49% from the stock’s current price.

According to Zacks, “Sigma Lithium Corporation is involved in producing battery-grade lithium. Sigma Lithium Corporation is based in VANCOUVER, BC. “

Several other brokerages also recently commented on SGML. Bank of America initiated coverage on Sigma Lithium in a report on Thursday, January 6th. They set a “buy” rating and a $14.00 target price on the stock. Canaccord Genuity Group raised their target price on Sigma Lithium from $17.00 to $24.00 in a report on Wednesday, April 6th. National Bank Financial raised their target price on Sigma Lithium from C$13.00 to C$17.00 in a report on Thursday, January 20th. Finally, Canaccord Genuity Group raised their target price on Sigma Lithium from C$24.00 to C$25.00 and gave the company a “buy” rating in a report on Wednesday.

Shares of NASDAQ:SGML opened at $15.86 on Friday. Sigma Lithium has a one year low of $3.84 and a one year high of $19.48. The company’s 50-day moving average is $12.49.

Hedge funds have recently bought and sold shares of the business. UBS Group AG purchased a new stake in Sigma Lithium during the 3rd quarter worth approximately $40,000. DRW Securities LLC purchased a new stake in Sigma Lithium during the 4th quarter worth approximately $104,000. Geode Capital Management LLC purchased a new stake in Sigma Lithium during the 4th quarter worth approximately $224,000. Principal Street Partners LLC purchased a new stake in Sigma Lithium during the 3rd quarter worth approximately $293,000. Finally, Millennium Management LLC acquired a new position in shares of Sigma Lithium in the 3rd quarter worth approximately $382,000. Institutional investors own 5.46% of the company’s stock.

About Sigma Lithium (Get Rating)

Sigma Lithium Corporation engages in the exploration and development of lithium deposits in Brazil. It holds 100% interest in the Grota do Cirilo, Genipapo, Santa Clara, and São José properties comprising 27 mineral rights covering an area of approximately 191 square kilometers located in the Araçuaí and Itinga regions of the state of Minas Gerais, Brazil.

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