Sigma Lithium (NASDAQ:SGML) Price Target Cut to $42.00 by Analysts at Bank of America

Sigma Lithium (NASDAQ:SGML) had its target price reduced by Bank of America from $44.00 to $42.00 in a research report report published on Sunday morning, FlyOnTheWall reports.

Sigma Lithium Stock Up 3.9 %

SGML opened at $31.82 on Friday. The firm has a 50 day moving average of $36.52 and a two-hundred day moving average of $36.78. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.14 and a quick ratio of 2.13. Sigma Lithium has a 12-month low of $20.93 and a 12-month high of $43.18.

Sigma Lithium (NASDAQ:SGML) last issued its earnings results on Thursday, August 10th. The company reported ($0.22) earnings per share (EPS) for the quarter. On average, equities research analysts expect that Sigma Lithium will post 3.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SGML. Nucleo Capital LTDA. grew its stake in shares of Sigma Lithium by 1.4% during the 1st quarter. Nucleo Capital LTDA. now owns 3,045,160 shares of the company’s stock worth $114,559,000 after purchasing an additional 42,214 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in Sigma Lithium by 44.6% during the second quarter. Frontier Capital Management Co. LLC now owns 1,542,175 shares of the company’s stock worth $62,150,000 after buying an additional 475,794 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Sigma Lithium by 2.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 674,588 shares of the company’s stock valued at $25,883,000 after buying an additional 14,461 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Sigma Lithium by 71.1% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 589,611 shares of the company’s stock valued at $23,740,000 after buying an additional 245,052 shares in the last quarter. Finally, SIR Capital Management L.P. raised its position in shares of Sigma Lithium by 13.5% in the first quarter. SIR Capital Management L.P. now owns 485,846 shares of the company’s stock worth $18,278,000 after acquiring an additional 57,900 shares during the period. 19.26% of the stock is currently owned by hedge funds and other institutional investors.

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.