Handelsbanken Fonder AB Grows Stock Holdings in Sigma Lithium Corporation $SGML

Handelsbanken Fonder AB raised its position in shares of Sigma Lithium Corporation (NASDAQ:SGML) by 37.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 888,544 shares of the company’s stock after buying an additional 244,310 shares during the period. Handelsbanken Fonder AB’s holdings in Sigma Lithium were worth $11,720,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SGML. Farther Finance Advisors LLC purchased a new stake in shares of Sigma Lithium during the fourth quarter valued at about $51,000. GF Fund Management CO. LTD. purchased a new stake in shares of Sigma Lithium during the fourth quarter valued at about $57,000. BTG Pactual Asset Management US LLC purchased a new stake in shares of Sigma Lithium during the third quarter valued at about $71,000. Quantbot Technologies LP purchased a new stake in shares of Sigma Lithium during the third quarter valued at about $82,000. Finally, Nebula Research & Development LLC purchased a new stake in shares of Sigma Lithium during the second quarter valued at about $87,000. 64.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SGML has been the subject of several analyst reports. Wall Street Zen raised shares of Sigma Lithium from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sigma Lithium in a research report on Friday, March 27th. Bank of America raised shares of Sigma Lithium from a “neutral” rating to a “buy” rating and increased their price target for the company from $14.00 to $17.00 in a research report on Thursday, April 2nd. Finally, Canaccord Genuity Group raised shares of Sigma Lithium from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Sigma Lithium currently has a consensus rating of “Hold” and an average target price of $18.50.

Sigma Lithium Stock Performance

Shares of Sigma Lithium stock opened at $15.55 on Friday. The firm has a market capitalization of $1.73 billion, a P/E ratio of -39.87 and a beta of 0.64. The company has a quick ratio of 0.14, a current ratio of 0.32 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average price of $16.12 and a 200 day moving average price of $13.28. Sigma Lithium Corporation has a 52 week low of $4.25 and a 52 week high of $24.48.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $42.34 million during the quarter, compared to analyst estimates of $42.48 million. Sigma Lithium had a negative net margin of 41.84% and a negative return on equity of 57.50%. Sell-side analysts expect that Sigma Lithium Corporation will post 0.92 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.