Sigma Lithium Co. (NASDAQ:SGML – Get Free Report) shares shot up 7.1% on Tuesday . The company traded as high as $17.48 and last traded at $17.30. 498,616 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 1,272,109 shares. The stock had previously closed at $16.16.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on SGML. Bank of America lifted their price target on shares of Sigma Lithium from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, March 18th. BMO Capital Markets cut their price target on shares of Sigma Lithium from $38.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 27th.
Read Our Latest Research Report on SGML
Sigma Lithium Stock Up 4.1 %
Institutional Trading of Sigma Lithium
A number of hedge funds and other institutional investors have recently made changes to their positions in SGML. PenderFund Capital Management Ltd. acquired a new position in Sigma Lithium during the fourth quarter worth $32,000. National Bank of Canada FI increased its holdings in Sigma Lithium by 1.1% during the fourth quarter. National Bank of Canada FI now owns 154,496 shares of the company’s stock worth $4,665,000 after buying an additional 1,699 shares during the last quarter. Canton Hathaway LLC acquired a new position in Sigma Lithium during the fourth quarter worth $60,000. Alps Advisors Inc. increased its holdings in Sigma Lithium by 54.7% during the third quarter. Alps Advisors Inc. now owns 8,778 shares of the company’s stock worth $285,000 after buying an additional 3,104 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in Sigma Lithium by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 647,882 shares of the company’s stock worth $20,543,000 after buying an additional 4,003 shares during the last quarter. 64.86% of the stock is currently owned by institutional investors and hedge funds.
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.
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