Analysts Set Sigma Lithium Corporation (NASDAQ:SGML) Price Target at $18.50

Shares of Sigma Lithium Corporation (NASDAQ:SGML) have been assigned a consensus rating of “Hold” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $17.3750.

A number of brokerages recently weighed in on SGML. JPMorgan Chase & Co. began coverage on Sigma Lithium in a research report on Friday. They set an “overweight” rating and a $14.00 price objective on the stock. Weiss Ratings lowered shares of Sigma Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th. Wall Street Zen cut shares of Sigma Lithium from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Zacks Research downgraded shares of Sigma Lithium from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th.

Sigma Lithium Price Performance

Shares of SGML stock opened at $9.97 on Tuesday. 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 stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -41.54 and a beta of 0.64. The stock has a fifty day simple moving average of $10.94 and a two-hundred day simple moving average of $13.55. Sigma Lithium has a twelve month low of $4.61 and a twelve month high of $24.48.

Sigma Lithium (NASDAQ:SGML) last issued its quarterly earnings data 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). Sigma Lithium had a negative net margin of 19.36% and a negative return on equity of 37.40%. The business had revenue of $54.70 million for the quarter, compared to analysts’ expectations of $68.34 million. On average, analysts predict that Sigma Lithium will post 0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Sigma Lithium

Institutional investors and hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC purchased a new position in Sigma Lithium during the 2nd quarter worth $1,462,000. TD Waterhouse Canada Inc. grew its stake in shares of Sigma Lithium by 21.8% during the second quarter. TD Waterhouse Canada Inc. now owns 24,605 shares of the company’s stock worth $306,000 after acquiring an additional 4,412 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Sigma Lithium during the second quarter valued at about $726,000. Wellington Management Group LLP acquired a new position in shares of Sigma Lithium during the second quarter valued at about $286,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Sigma Lithium in the 2nd quarter valued at approximately $128,000. 64.86% of the stock is owned by hedge funds and other institutional investors.

Sigma Lithium Company Profile

Sigma Lithium Corporation is a Canadian mining and technology company focused on the exploration, development, and production of lithium products for the electric vehicle and energy storage industries. Its principal operations are located in Brazil, where the company is developing and operating the Grota do Cirilo lithium project in the state of Minas Gerais.

Grota do Cirilo produces battery-grade lithium spodumene concentrate, a key raw material used to manufacture lithium-ion batteries.