Van ECK Associates Corp Purchases 47,143 Shares of Sigma Lithium Co. (NASDAQ:SGML)

Van ECK Associates Corp raised its holdings in Sigma Lithium Co. (NASDAQ:SGML) by 3.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,248,755 shares of the company’s stock after purchasing an additional 47,143 shares during the period. Van ECK Associates Corp’s holdings in Sigma Lithium were worth $15,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. 1832 Asset Management L.P. increased its stake in Sigma Lithium by 43.3% in the first quarter. 1832 Asset Management L.P. now owns 382,000 shares of the company’s stock valued at $4,951,000 after acquiring an additional 115,438 shares during the period. SG Americas Securities LLC bought a new stake in shares of Sigma Lithium in the 2nd quarter valued at approximately $672,000. Perpetual Ltd acquired a new position in shares of Sigma Lithium in the 3rd quarter worth approximately $2,096,000. Fourth Sail Capital LP lifted its position in shares of Sigma Lithium by 1,572.2% during the 2nd quarter. Fourth Sail Capital LP now owns 3,134,797 shares of the company’s stock worth $37,712,000 after buying an additional 2,947,331 shares during the period. Finally, Millennium Management LLC boosted its stake in Sigma Lithium by 16.9% in the 2nd quarter. Millennium Management LLC now owns 1,243,579 shares of the company’s stock valued at $14,960,000 after buying an additional 179,355 shares in the last quarter. Institutional investors and hedge funds own 64.86% of the company’s stock.

Sigma Lithium Price Performance

Shares of Sigma Lithium stock opened at $13.33 on Wednesday. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 148.11 and a beta of 0.16. The firm’s 50-day moving average price is $12.35 and its two-hundred day moving average price is $12.84. The company has a current ratio of 1.05, a quick ratio of 0.96 and a debt-to-equity ratio of 0.02. Sigma Lithium Co. has a 1-year low of $8.47 and a 1-year high of $34.31.

Sigma Lithium (NASDAQ:SGML) last released its quarterly earnings results on Thursday, August 15th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.23). The business had revenue of $45.94 million for 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%. On average, equities analysts predict that Sigma Lithium Co. will post 0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.