Alps Advisors Inc. Buys 72,979 Shares of Sigma Lithium Corporation $SGML

Alps Advisors Inc. lifted its stake in Sigma Lithium Corporation (NASDAQ:SGML) by 37.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 269,446 shares of the company’s stock after buying an additional 72,979 shares during the quarter. Alps Advisors Inc. owned about 0.24% of Sigma Lithium worth $1,727,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in Sigma Lithium by 15.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 21,897 shares of the company’s stock worth $99,000 after acquiring an additional 3,005 shares during the period. Electron Capital Partners LLC increased its stake in shares of Sigma Lithium by 0.4% in the second quarter. Electron Capital Partners LLC now owns 1,067,947 shares of the company’s stock worth $4,806,000 after purchasing an additional 4,557 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Sigma Lithium by 9.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 113,299 shares of the company’s stock valued at $1,178,000 after purchasing an additional 9,748 shares during the period. Malaga Cove Capital LLC bought a new stake in shares of Sigma Lithium during the 2nd quarter valued at $52,000. Finally, Levin Capital Strategies L.P. lifted its stake in shares of Sigma Lithium by 125.0% during the 2nd quarter. Levin Capital Strategies L.P. now owns 22,500 shares of the company’s stock valued at $101,000 after buying an additional 12,500 shares in the last quarter. 64.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SGML shares. BMO Capital Markets reiterated an “outperform” rating and issued a $18.00 price target on shares of Sigma Lithium in a research note on Wednesday, January 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sigma Lithium in a research note on Monday, December 29th. Zacks Research upgraded Sigma Lithium from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Citigroup lowered shares of Sigma Lithium from an “overweight” rating to an “underperform” rating in a report on Thursday, January 8th. Finally, Canaccord Genuity Group raised shares of Sigma Lithium from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.50.

Sigma Lithium Trading Down 3.7%

SGML opened at $11.59 on Wednesday. The stock has a 50-day moving average of $12.73 and a 200 day moving average of $8.77. The company has a current ratio of 0.49, a quick ratio of 0.32 and a debt-to-equity ratio of 1.38. Sigma Lithium Corporation has a 12 month low of $4.25 and a 12 month high of $16.87. The firm has a market cap of $1.29 billion and a P/E ratio of -37.39.

Sigma Lithium (NASDAQ:SGML) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The business had revenue of $28.55 million during the quarter, compared to analyst estimates of $70.54 million. Sigma Lithium had a negative return on equity of 35.97% and a negative net margin of 24.13%. As a group, research analysts forecast that Sigma Lithium Corporation will post -0.12 EPS for the current year.

Sigma Lithium 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.