Old West Investment Management LLC Purchases New Position in Sigma Lithium Corporation $SGML

Old West Investment Management LLC acquired a new stake in Sigma Lithium Corporation (NASDAQ:SGML) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 51,601 shares of the company’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Appian Way Asset Management LP increased its position in shares of Sigma Lithium by 5.3% during the first quarter. Appian Way Asset Management LP now owns 4,963,006 shares of the company’s stock worth $51,615,000 after purchasing an additional 250,581 shares in the last quarter. Woodline Partners LP grew its stake in Sigma Lithium by 65.6% during the 1st quarter. Woodline Partners LP now owns 2,678,444 shares of the company’s stock worth $27,856,000 after buying an additional 1,060,771 shares during the last quarter. Decade Renewable Partners LP increased its position in Sigma Lithium by 2.4% during the first quarter. Decade Renewable Partners LP now owns 882,621 shares of the company’s stock worth $9,179,000 after buying an additional 20,760 shares during the period. Adage Capital Partners GP L.L.C. increased its position in Sigma Lithium by 95.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 440,000 shares of the company’s stock worth $4,576,000 after buying an additional 215,000 shares during the period. Finally, Credit Industriel ET Commercial lifted its stake in Sigma Lithium by 177.8% in the second quarter. Credit Industriel ET Commercial now owns 250,000 shares of the company’s stock valued at $1,125,000 after buying an additional 160,000 shares during the last quarter. Institutional investors and hedge funds own 64.86% of the company’s stock.

Sigma Lithium Stock Performance

Shares of SGML opened at $5.90 on Friday. The stock has a market capitalization of $657.17 million, a P/E ratio of -13.41 and a beta of 0.08. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.39 and a current ratio of 0.60. Sigma Lithium Corporation has a 1 year low of $4.25 and a 1 year high of $14.77. The company’s fifty day moving average is $6.21 and its two-hundred day moving average is $6.04.

Sigma Lithium (NASDAQ:SGML) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.14). The firm had revenue of $16.89 million for the quarter, compared to analyst estimates of $50.44 million. Sigma Lithium had a negative return on equity of 47.19% and a negative net margin of 35.69%. On average, sell-side analysts predict that Sigma Lithium Corporation will post -0.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SGML shares. Weiss Ratings restated a “sell (d-)” rating on shares of Sigma Lithium in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Sigma Lithium from a “hold” rating to a “strong sell” rating in a research report on Monday, October 27th. Bank of America lowered shares of Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a research note on Friday, October 24th. Cormark raised shares of Sigma Lithium to a “moderate buy” rating in a report on Thursday, August 21st. Finally, Wall Street Zen lowered Sigma Lithium from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Sell” and an average price target of $7.00.

About Sigma Lithium

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.