Appian Way Asset Management LP Has $31.33 Million Stock Holdings in Sigma Lithium Co. (NASDAQ:SGML)

Appian Way Asset Management LP increased its position in shares of Sigma Lithium Co. (NASDAQ:SGML) by 14.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,604,136 shares of the company’s stock after purchasing an additional 334,034 shares during the period. Sigma Lithium accounts for 8.0% of Appian Way Asset Management LP’s portfolio, making the stock its 4th largest holding. Appian Way Asset Management LP owned 2.35% of Sigma Lithium worth $31,328,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. PenderFund Capital Management Ltd. bought a new position in Sigma Lithium in the 4th quarter worth approximately $32,000. Point72 DIFC Ltd bought a new position in shares of Sigma Lithium during the second quarter worth $48,000. Tidal Investments LLC grew its stake in Sigma Lithium by 65.9% during the first quarter. Tidal Investments LLC now owns 44,241 shares of the company’s stock valued at $573,000 after acquiring an additional 17,566 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in Sigma Lithium by 9.4% in the 4th quarter. 1832 Asset Management L.P. now owns 266,562 shares of the company’s stock valued at $8,405,000 after acquiring an additional 22,938 shares during the last quarter. Finally, Cantor Fitzgerald L. P. purchased a new stake in Sigma Lithium in the 4th quarter worth $1,548,000. Hedge funds and other institutional investors own 64.86% of the company’s stock.

Sigma Lithium Trading Up 4.1 %

Shares of SGML stock opened at $11.88 on Tuesday. The company has a market cap of $1.32 billion, a PE ratio of -91.38 and a beta of 0.16. Sigma Lithium Co. has a 1 year low of $8.47 and a 1 year high of $34.92. The stock’s 50 day simple moving average is $10.52 and its two-hundred day simple moving average is $12.88. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.05 and a quick ratio of 0.96.

Sigma Lithium (NASDAQ:SGML) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.23). The company had revenue of $45.94 million during the quarter, compared to the consensus estimate of $69.70 million. Sigma Lithium had a return on equity of 6.18% and a net margin of 4.28%. Research analysts predict that Sigma Lithium Co. will post 0.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets cut their price target on Sigma Lithium from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Monday, August 19th.

Sigma Lithium Company Profile

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.