SIR Capital Management L.P. Purchases Shares of 375,793 Sigma Lithium Corporation $SGML

SIR Capital Management L.P. acquired a new position in Sigma Lithium Corporation (NASDAQ:SGML) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 375,793 shares of the company’s stock, valued at approximately $4,754,000.

Several other institutional investors also recently modified their holdings of SGML. Handelsbanken Fonder AB boosted its stake in Sigma Lithium by 23.2% during the second quarter. Handelsbanken Fonder AB now owns 1,498,133 shares of the company’s stock worth $18,951,000 after buying an additional 282,595 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Sigma Lithium in the 2nd quarter valued at $2,512,000. Encompass Capital Advisors LLC acquired a new position in shares of Sigma Lithium in the 4th quarter valued at $16,463,000. Keystone Investors PTE Ltd. bought a new position in shares of Sigma Lithium during the 4th quarter worth about $1,103,000. Finally, Polymer Capital Management HK LTD bought a new position in shares of Sigma Lithium during the 4th quarter worth about $660,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

Sigma Lithium Trading Up 2.0%

Shares of NASDAQ SGML opened at $12.21 on Tuesday. Sigma Lithium Corporation has a 1-year low of $4.61 and a 1-year high of $24.48. The company has a market cap of $1.37 billion, a PE ratio of -50.87 and a beta of 0.61. The company has a current ratio of 0.34, a quick ratio of 0.25 and a debt-to-equity ratio of 1.25. The company has a 50-day moving average of $11.52 and a two-hundred day moving average of $13.84.

Sigma Lithium (NASDAQ:SGML) last announced its earnings results on Friday, August 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.25). Sigma Lithium had a negative return on equity of 37.40% and a negative net margin of 19.36%.The company had revenue of $54.70 million for the quarter, compared to analyst estimates of $68.34 million. As a group, equities analysts expect that Sigma Lithium Corporation will post 0.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SGML. Zacks Research downgraded Sigma Lithium from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 19th. Weiss Ratings cut Sigma Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 13th. Finally, Wall Street Zen downgraded Sigma Lithium from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Three investment analysts have rated the stock with a Buy rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” 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.