SIR Capital Management L.P. Reduces Position in Sigma Lithium Corporation $SGML

SIR Capital Management L.P. lessened its stake in shares of Sigma Lithium Corporation (NASDAQ:SGML) by 60.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 597,237 shares of the company’s stock after selling 905,953 shares during the quarter. SIR Capital Management L.P.’s holdings in Sigma Lithium were worth $7,878,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Polymer Capital Management HK LTD purchased a new stake in shares of Sigma Lithium during the fourth quarter valued at approximately $660,000. Keystone Investors PTE Ltd. purchased a new stake in shares of Sigma Lithium during the fourth quarter valued at approximately $1,103,000. HRT Financial LP purchased a new stake in shares of Sigma Lithium during the fourth quarter valued at approximately $1,337,000. Brooklyn Investment Group purchased a new stake in shares of Sigma Lithium during the fourth quarter valued at approximately $745,000. Finally, Alps Advisors Inc. boosted its stake in shares of Sigma Lithium by 9.5% during the fourth quarter. Alps Advisors Inc. now owns 295,076 shares of the company’s stock valued at $3,892,000 after purchasing an additional 25,630 shares during the period. Hedge funds and other institutional investors own 64.86% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sigma Lithium Price Performance

SGML opened at $15.98 on Friday. The stock has a fifty day simple moving average of $17.40 and a two-hundred day simple moving average of $14.16. The company has a current ratio of 0.32, a quick ratio of 0.25 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -40.97 and a beta of 0.54. Sigma Lithium Corporation has a 12-month low of $4.25 and a 12-month high of $24.48.

Sigma Lithium (NASDAQ:SGML) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. The business had revenue of $42.34 million during the quarter, compared to the consensus estimate of $42.48 million. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%. Research analysts predict that Sigma Lithium Corporation will post 1.15 earnings per share for the current fiscal year.

Sigma Lithium Company 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.