Sigma Lithium Corporation (NASDAQ:SGML) Stock Has Consensus Price Target of $14.30 According to Brokerages

Shares of Sigma Lithium Corporation (NASDAQ:SGML) have received an average recommendation of “Reduce” from the eight ratings firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $14.30.

SGML has been the topic of a number of recent research reports. BMO Capital Markets downgraded Sigma Lithium from an “outperform” rating to a “market perform” rating and set a $10.00 target price on the stock. in a report on Thursday, October 1st. Zacks Research cut shares of Sigma Lithium from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. ATB Cormark Capital Markets downgraded shares of Sigma Lithium from a “moderate buy” rating to a “hold” rating and dropped their price objective for the stock from $19.50 to $13.00 in a report on Friday, October 2nd. JPMorgan Chase & Co. lowered shares of Sigma Lithium from an “overweight” rating to a “neutral” rating and set a $11.00 target price for the company. in a research report on Friday, October 2nd. Finally, Wall Street Zen lowered shares of Sigma Lithium from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th.

Institutional Investors Weigh In On Sigma Lithium

Hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Sigma Lithium during the 2nd quarter valued at $29,727,000. Handelsbanken Fonder AB raised its holdings in Sigma Lithium by 23.2% in the 2nd quarter. Handelsbanken Fonder AB now owns 1,498,133 shares of the company’s stock worth $18,951,000 after purchasing an additional 282,595 shares during the period. Encompass Capital Advisors LLC bought a new position in Sigma Lithium in the 4th quarter worth $16,463,000. SIR Capital Management L.P. purchased a new position in Sigma Lithium during the second quarter valued at $4,754,000. Finally, Ariose Capital Management Ltd purchased a new position in Sigma Lithium during the first quarter valued at $3,826,000. Institutional investors own 64.86% of the company’s stock.

Sigma Lithium Price Performance

Shares of NASDAQ:SGML opened at $9.35 on Friday. The business has a 50-day simple moving average of $10.74 and a two-hundred day simple moving average of $13.32. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.25 and a current ratio of 0.34. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -38.96 and a beta of 0.67. Sigma Lithium has a fifty-two week low of $4.61 and a fifty-two week high of $24.48.

Sigma Lithium (NASDAQ:SGML) last issued its earnings results on Friday, August 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.25). The company had revenue of $54.70 million during the quarter, compared to analysts’ expectations of $68.34 million. Sigma Lithium had a negative return on equity of 37.40% and a negative net margin of 19.36%. On average, analysts expect that Sigma Lithium will post 0.27 earnings per share for the current year.

Sigma Lithium Company Profile

Sigma Lithium Corporation is a Canadian mining and development company focused on producing lithium concentrate for the electric vehicle and energy storage industries. Its primary asset is the Grota do Cirilo project in Minas Gerais, Brazil, which includes hard-rock lithium deposits, mining operations and a processing facility.

The company produces lithium concentrate designed for use in lithium-ion batteries. Its processing approach emphasizes the recovery of lithium-bearing material while seeking to reduce the use of hazardous chemicals and minimize environmental impacts.