Sigma Lithium (NASDAQ:SGML) Shares Up 3.6%

Shares of Sigma Lithium Co. (NASDAQ:SGML) rose 3.6% on Monday . The company traded as high as $11.84 and last traded at $11.82. Approximately 20,515 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 1,050,213 shares. The stock had previously closed at $11.41.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets decreased 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 Stock Up 5.0 %

The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -93.08 and a beta of 0.16. The business’s 50-day moving average is $10.53 and its two-hundred day moving average is $12.90. 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 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). Sigma Lithium had a return on equity of 6.18% and a net margin of 4.28%. The business had revenue of $45.94 million for the quarter, compared to the consensus estimate of $69.70 million. On average, equities analysts anticipate that Sigma Lithium Co. will post 0.04 earnings per share for the current year.

Institutional Investors Weigh In On Sigma Lithium

A number of institutional investors and hedge funds have recently made changes to their positions in SGML. Norges Bank bought a new position in Sigma Lithium during the fourth quarter worth $17,608,000. 1832 Asset Management L.P. lifted its holdings in shares of Sigma Lithium by 9.4% during the fourth quarter. 1832 Asset Management L.P. now owns 266,562 shares of the company’s stock worth $8,405,000 after buying an additional 22,938 shares in the last quarter. Bardin Hill Management Partners LP bought a new stake in shares of Sigma Lithium in the fourth quarter valued at about $1,949,000. PenderFund Capital Management Ltd. acquired a new position in shares of Sigma Lithium in the fourth quarter valued at about $32,000. Finally, Frontier Capital Management Co. LLC increased its position in Sigma Lithium by 26.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,258,218 shares of the company’s stock worth $71,202,000 after acquiring an additional 466,688 shares during the period. Institutional investors own 64.86% of the company’s stock.

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.