Sigma Lithium Corporation $SGML Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its stake in Sigma Lithium Corporation (NASDAQ:SGML) by 23.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,498,133 shares of the company’s stock after purchasing an additional 282,595 shares during the period. Handelsbanken Fonder AB owned about 1.33% of Sigma Lithium worth $18,951,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings 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 in the last quarter. Invesco Ltd. boosted its holdings in Sigma Lithium by 22.2% during the second quarter. Invesco Ltd. now owns 899,945 shares of the company’s stock worth $4,050,000 after buying an additional 163,335 shares in the last quarter. Marshall Wace LLP purchased a new stake in Sigma Lithium during the second quarter worth $560,000. Jump Financial LLC acquired a new stake in Sigma Lithium during the second quarter valued at $131,000. Finally, Nebula Research & Development LLC acquired a new stake in Sigma Lithium during the second quarter valued at $87,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SGML. Wall Street Zen downgraded shares of Sigma Lithium from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research cut Sigma Lithium from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Weiss Ratings upgraded Sigma Lithium from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.50.

Sigma Lithium Trading Down 0.2%

Shares of NASDAQ:SGML opened at $11.82 on Thursday. The business’s 50 day moving average price is $11.98 and its 200-day moving average price is $13.90. Sigma Lithium Corporation has a 1 year low of $4.61 and a 1 year high of $24.48. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -30.31 and a beta of 0.61. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.32 and a quick ratio of 0.25.

Sigma Lithium (NASDAQ:SGML) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. Sigma Lithium had a negative net margin of 41.84% and a negative return on equity of 57.50%. The company had revenue of $16.90 million during the quarter, compared to analysts’ expectations of $42.48 million. On average, equities research analysts forecast that Sigma Lithium Corporation will post 1.15 earnings per share for the current fiscal year.

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.