Sigma Lithium Co. (NASDAQ:SGML) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp lifted its stake in shares of Sigma Lithium Co. (NASDAQ:SGML) by 13.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,201,612 shares of the company’s stock after acquiring an additional 143,696 shares during the quarter. Van ECK Associates Corp owned 1.08% of Sigma Lithium worth $14,455,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of SGML. Appian Way Asset Management LP increased its holdings in Sigma Lithium by 47.2% during the 1st quarter. Appian Way Asset Management LP now owns 2,270,102 shares of the company’s stock worth $29,421,000 after purchasing an additional 728,260 shares during the period. Frontier Capital Management Co. LLC increased its stake in shares of Sigma Lithium by 26.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,258,218 shares of the company’s stock worth $71,202,000 after buying an additional 466,688 shares during the period. Electron Capital Partners LLC purchased a new stake in shares of Sigma Lithium during the fourth quarter worth approximately $69,703,000. Norges Bank acquired a new stake in Sigma Lithium in the fourth quarter valued at approximately $17,608,000. Finally, 1832 Asset Management L.P. lifted its stake in Sigma Lithium by 43.3% in the first quarter. 1832 Asset Management L.P. now owns 382,000 shares of the company’s stock worth $4,951,000 after acquiring an additional 115,438 shares during the last quarter. 64.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SGML shares. Bank of America increased their price objective on shares of Sigma Lithium from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Monday, May 20th. BMO Capital Markets lowered their target price on shares of Sigma Lithium from $25.00 to $20.00 and set an “outperform” rating for the company in a research note on Monday, August 19th.

Sigma Lithium Price Performance

SGML stock opened at $10.65 on Monday. The business has a 50 day moving average price of $11.09 and a 200 day moving average price of $13.27. The company has a quick ratio of 0.96, a current ratio of 1.05 and a debt-to-equity ratio of 0.02. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -81.92 and a beta of 0.17. Sigma Lithium Co. has a fifty-two week low of $8.47 and a fifty-two week high of $39.38.

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.