Sigma Lithium Corporation $SGML Shares Acquired by Legal & General Group Plc

Legal & General Group Plc lifted its holdings in shares of Sigma Lithium Corporation (NASDAQ:SGML) by 101.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,647,004 shares of the company’s stock after buying an additional 1,334,772 shares during the period. Legal & General Group Plc’s holdings in Sigma Lithium were worth $34,911,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. BNP Paribas Financial Markets boosted its stake in shares of Sigma Lithium by 15.9% during the second quarter. BNP Paribas Financial Markets now owns 21,897 shares of the company’s stock worth $99,000 after buying an additional 3,005 shares during the period. Farther Finance Advisors LLC acquired a new stake in Sigma Lithium in the fourth quarter valued at about $51,000. Virtu Financial LLC lifted its position in Sigma Lithium by 26.6% in the third quarter. Virtu Financial LLC now owns 20,053 shares of the company’s stock valued at $129,000 after purchasing an additional 4,210 shares during the period. GF Fund Management CO. LTD. acquired a new stake in Sigma Lithium in the fourth quarter valued at about $57,000. Finally, Millennium Management LLC lifted its position in Sigma Lithium by 6.4% in the third quarter. Millennium Management LLC now owns 81,543 shares of the company’s stock valued at $520,000 after purchasing an additional 4,909 shares during the period. Institutional investors and hedge funds own 64.86% of the company’s stock.

Sigma Lithium Price Performance

Shares of NASDAQ:SGML opened at $16.77 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.32 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.87 billion, a P/E ratio of -43.00 and a beta of 0.64. Sigma Lithium Corporation has a 52 week low of $4.25 and a 52 week high of $24.48. The company has a 50-day moving average price of $16.59 and a 200 day moving average price of $13.65.

Sigma Lithium (NASDAQ:SGML) last posted its quarterly earnings results on Friday, May 15th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting 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 $42.34 million during the quarter, compared to the consensus estimate of $42.48 million. Research analysts predict that Sigma Lithium Corporation will post 1.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Bank of America upgraded shares of Sigma Lithium from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $17.00 in a research report on Thursday, April 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Sigma Lithium from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, Zacks Research upgraded shares of Sigma Lithium from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.50.

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.