Cormark Analysts Reduce Earnings Estimates for Sigma Lithium

Sigma Lithium Co. (NASDAQ:SGML) – Stock analysts at Cormark reduced their FY2024 EPS estimates for shares of Sigma Lithium in a research report issued on Tuesday, February 25th. Cormark analyst S. Gill now expects that the company will post earnings of ($0.13) per share for the year, down from their previous estimate of ($0.12). The consensus estimate for Sigma Lithium’s current full-year earnings is ($0.12) per share.

Separately, Bank of America lowered their target price on shares of Sigma Lithium from $25.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th.

Sigma Lithium Trading Down 0.7 %

NASDAQ SGML opened at $11.67 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.02. Sigma Lithium has a 12 month low of $8.47 and a 12 month high of $19.20. The company has a market capitalization of $1.30 billion, a PE ratio of -24.31 and a beta of 0.22. The stock has a 50-day simple moving average of $11.45 and a 200 day simple moving average of $12.00.

Hedge Funds Weigh In On Sigma Lithium

Several institutional investors have recently modified their holdings of the business. Woodline Partners LP raised its holdings in Sigma Lithium by 113.5% during the 4th quarter. Woodline Partners LP now owns 1,617,673 shares of the company’s stock worth $18,150,000 after buying an additional 859,924 shares during the period. Sourcerock Group LLC increased its position in shares of Sigma Lithium by 46.0% during the fourth quarter. Sourcerock Group LLC now owns 1,387,222 shares of the company’s stock worth $15,565,000 after acquiring an additional 437,010 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Sigma Lithium during the fourth quarter worth $150,000. Point72 Asset Management L.P. lifted its position in Sigma Lithium by 349.0% in the 4th quarter. Point72 Asset Management L.P. now owns 405,274 shares of the company’s stock valued at $4,547,000 after acquiring an additional 315,008 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Sigma Lithium by 1.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,254,882 shares of the company’s stock worth $14,127,000 after purchasing an additional 22,828 shares during the period. Institutional investors own 64.86% of the company’s stock.

About Sigma Lithium

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.