Appian Way Asset Management LP Grows Stock Holdings in Sigma Lithium Co. (NASDAQ:SGML)

Appian Way Asset Management LP grew its position in shares of Sigma Lithium Co. (NASDAQ:SGML) by 57.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,092,401 shares of the company’s stock after buying an additional 1,488,265 shares during the quarter. Sigma Lithium accounts for 11.4% of Appian Way Asset Management LP’s holdings, making the stock its 3rd biggest position. Appian Way Asset Management LP’s holdings in Sigma Lithium were worth $50,582,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fourth Sail Capital LP grew its holdings in Sigma Lithium by 1,572.2% during the second quarter. Fourth Sail Capital LP now owns 3,134,797 shares of the company’s stock valued at $37,712,000 after purchasing an additional 2,947,331 shares during the period. Bridgewater Associates LP bought a new stake in shares of Sigma Lithium in the third quarter valued at $4,584,000. The Manufacturers Life Insurance Company lifted its position in shares of Sigma Lithium by 848.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 354,625 shares of the company’s stock valued at $4,388,000 after buying an additional 317,225 shares during the last quarter. Millennium Management LLC grew its stake in shares of Sigma Lithium by 16.9% during the 2nd quarter. Millennium Management LLC now owns 1,243,579 shares of the company’s stock worth $14,960,000 after acquiring an additional 179,355 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in Sigma Lithium by 18.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,144,492 shares of the company’s stock worth $13,768,000 after acquiring an additional 174,992 shares during the last quarter. 64.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, BMO Capital Markets dropped their price objective on shares of Sigma Lithium from $25.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday, August 19th.

Sigma Lithium Trading Down 0.9 %

Shares of SGML stock opened at $13.76 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.84 and a quick ratio of 0.72. Sigma Lithium Co. has a 1 year low of $8.47 and a 1 year high of $34.31. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -28.67 and a beta of 0.16. The company’s fifty day simple moving average is $13.55 and its two-hundred day simple moving average is $12.66.

Sigma Lithium 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.