Sigma Lithium Corporation (NASDAQ:SGML) Receives Consensus Recommendation of “Hold” from Analysts

Sigma Lithium Corporation (NASDAQ:SGML) has been given an average rating of “Hold” by the six ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $17.50.

Several equities analysts have recently weighed in on the stock. Bank of America raised shares of Sigma Lithium from an “underperform” rating to a “neutral” rating and set a $14.00 price target on the stock in a research note on Tuesday, February 3rd. Canaccord Genuity Group upgraded Sigma Lithium from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. BMO Capital Markets restated an “outperform” rating and issued a $18.00 price target on shares of Sigma Lithium in a research report on Wednesday, January 14th. Zacks Research upgraded Sigma Lithium from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Citigroup lowered Sigma Lithium from an “overweight” rating to an “underperform” rating in a research note on Thursday, January 8th.

Sigma Lithium Stock Down 0.9%

Shares of SGML opened at $16.22 on Friday. The stock has a 50 day moving average price of $13.42 and a 200 day moving average price of $9.41. Sigma Lithium has a one year low of $4.25 and a one year high of $16.88. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.32 and a current ratio of 0.49. The stock has a market capitalization of $1.81 billion and a price-to-earnings ratio of -52.32.

Institutional Investors Weigh In On Sigma Lithium

Several hedge funds and other institutional investors have recently bought and sold shares of SGML. Virtu Financial LLC increased its position in Sigma Lithium by 144.9% during the fourth quarter. Virtu Financial LLC now owns 49,112 shares of the company’s stock worth $648,000 after purchasing an additional 29,059 shares during the last quarter. Symmetry Investments LP purchased a new stake in shares of Sigma Lithium in the 4th quarter valued at approximately $790,000. Encompass Capital Advisors LLC acquired a new stake in shares of Sigma Lithium during the 4th quarter worth approximately $16,463,000. Balyasny Asset Management L.P. raised its position in shares of Sigma Lithium by 61.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 619,669 shares of the company’s stock valued at $8,173,000 after buying an additional 236,942 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Sigma Lithium in the fourth quarter valued at approximately $197,000. 64.86% of the stock is currently owned by institutional investors and hedge funds.

Sigma Lithium Company 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.