Aberdeen Group plc Raises Stock Position in Sigma Lithium Corporation $SGML

Aberdeen Group plc lifted its holdings in Sigma Lithium Corporation (NASDAQ:SGML) by 136.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,269 shares of the company’s stock after buying an additional 56,752 shares during the period. Aberdeen Group plc owned about 0.09% of Sigma Lithium worth $630,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Malaga Cove Capital LLC purchased a new position in Sigma Lithium in the second quarter worth about $52,000. Hunting Hill Global Capital LLC purchased a new position in shares of Sigma Lithium in the 2nd quarter worth approximately $86,000. Nebula Research & Development LLC purchased a new position in shares of Sigma Lithium in the 2nd quarter worth approximately $87,000. ProShare Advisors LLC bought a new position in shares of Sigma Lithium during the 3rd quarter valued at approximately $90,000. Finally, BNP Paribas Financial Markets raised its holdings in Sigma Lithium by 15.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 21,897 shares of the company’s stock valued at $99,000 after buying an additional 3,005 shares during the period. Institutional investors own 64.86% of the company’s stock.

Wall Street Analysts Forecast Growth

SGML has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sigma Lithium in a research note on Monday, December 29th. Canaccord Genuity Group raised shares of Sigma Lithium from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. BMO Capital Markets reiterated an “outperform” rating and set a $18.00 price target on shares of Sigma Lithium in a report on Wednesday, January 14th. Bank of America raised shares of Sigma Lithium from an “underperform” rating to a “neutral” rating and set a $14.00 price objective for the company in a research note on Tuesday, February 3rd. Finally, Zacks Research upgraded Sigma Lithium from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Sigma Lithium has an average rating of “Hold” and a consensus target price of $17.50.

Sigma Lithium Stock Performance

Shares of Sigma Lithium stock opened at $12.47 on Monday. The company has a current ratio of 0.49, a quick ratio of 0.32 and a debt-to-equity ratio of 1.38. The stock’s fifty day moving average price is $13.13 and its 200-day moving average price is $9.21. The firm has a market cap of $1.39 billion and a P/E ratio of -40.22. Sigma Lithium Corporation has a 12 month low of $4.25 and a 12 month high of $16.87.

About Sigma Lithium

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.