The Manufacturers Life Insurance Company Invests $2.99 Million in Sigma Lithium Corporation $SGML

The Manufacturers Life Insurance Company purchased a new stake in Sigma Lithium Corporation (NASDAQ:SGML) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 236,861 shares of the company’s stock, valued at approximately $2,989,000. The Manufacturers Life Insurance Company owned approximately 0.21% of Sigma Lithium as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SGML. BlackRock Inc. purchased a new stake in Sigma Lithium during the 2nd quarter worth about $29,727,000. Legal & General Group Plc grew its holdings in Sigma Lithium by 101.7% during the 4th quarter. Legal & General Group Plc now owns 2,647,004 shares of the company’s stock valued at $34,911,000 after buying an additional 1,334,772 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in Sigma Lithium during the 4th quarter valued at about $16,463,000. Woodline Partners LP increased its position in shares of Sigma Lithium by 26.6% during the third quarter. Woodline Partners LP now owns 2,964,909 shares of the company’s stock valued at $19,005,000 after buying an additional 623,832 shares during the period. Finally, Verition Fund Management LLC bought a new stake in shares of Sigma Lithium during the third quarter valued at about $3,603,000. 64.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SGML shares. Zacks Research lowered shares of Sigma Lithium from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Weiss Ratings lowered shares of Sigma Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 13th. Finally, Wall Street Zen cut shares of Sigma Lithium from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Three analysts have rated the stock with a Buy rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.50.

Sigma Lithium Price Performance

Sigma Lithium stock opened at $12.26 on Wednesday. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -51.08 and a beta of 0.64. The company has a quick ratio of 0.25, a current ratio of 0.34 and a debt-to-equity ratio of 1.25. The business has a 50-day simple moving average of $11.35 and a 200 day simple moving average of $13.84. Sigma Lithium Corporation has a 52 week low of $4.61 and a 52 week high of $24.48.

Sigma Lithium (NASDAQ:SGML) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.25). The business had revenue of $54.70 million during the quarter, compared to analysts’ expectations of $68.34 million. Sigma Lithium had a negative net margin of 19.36% and a negative return on equity of 37.40%. On average, research analysts forecast that Sigma Lithium Corporation will post 0.45 earnings per share for the current fiscal year.

About Sigma Lithium

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.