Sigma Lithium Co. (NASDAQ:SGML) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. raised its stake in Sigma Lithium Co. (NASDAQ:SGML) by 18.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,144,492 shares of the company’s stock after acquiring an additional 174,992 shares during the quarter. Point72 Asset Management L.P. owned approximately 1.03% of Sigma Lithium worth $13,768,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Fourth Sail Capital LP lifted its stake in shares of Sigma Lithium by 1,572.2% in the 2nd quarter. Fourth Sail Capital LP now owns 3,134,797 shares of the company’s stock valued at $37,712,000 after purchasing an additional 2,947,331 shares during the period. Electron Capital Partners LLC acquired a new position in shares of Sigma Lithium in the fourth quarter worth about $69,703,000. Appian Way Asset Management LP raised its position in shares of Sigma Lithium by 47.2% in the first quarter. Appian Way Asset Management LP now owns 2,270,102 shares of the company’s stock worth $29,421,000 after acquiring an additional 728,260 shares during the period. Norges Bank acquired a new stake in shares of Sigma Lithium during the 4th quarter valued at about $17,608,000. Finally, Frontier Capital Management Co. LLC increased its stake in shares of Sigma Lithium by 26.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,258,218 shares of the company’s stock valued at $71,202,000 after purchasing an additional 466,688 shares in the last quarter. Hedge funds and other institutional investors own 64.86% of the company’s stock.

Wall Street Analyst Weigh In

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

Sigma Lithium Stock Performance

NASDAQ:SGML opened at $12.36 on Tuesday. The company has a fifty day moving average of $10.53 and a two-hundred day moving average of $12.83. Sigma Lithium Co. has a fifty-two week low of $8.47 and a fifty-two week high of $34.31. The stock has a market capitalization of $1.37 billion, a PE ratio of -95.23 and a beta of 0.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.96 and a current ratio of 1.05.

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

Sigma Lithium 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.