Bank of New York Mellon Corp Invests $728,000 in Sigma Lithium Co. (NASDAQ:SGML)

Bank of New York Mellon Corp acquired a new stake in Sigma Lithium Co. (NASDAQ:SGML - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 64,871 shares of the company's stock, valued at approximately $728,000. Bank of New York Mellon Corp owned 0.06% of Sigma Lithium as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Appian Way Asset Management LP raised its holdings in shares of Sigma Lithium by 57.2% in the 3rd quarter. Appian Way Asset Management LP now owns 4,092,401 shares of the company's stock worth $50,582,000 after purchasing an additional 1,488,265 shares during the period. Bridgewater Associates LP purchased a new stake in shares of Sigma Lithium during the third quarter valued at approximately $4,584,000. The Manufacturers Life Insurance Company raised its stake in shares of Sigma Lithium by 848.2% during the third quarter. The Manufacturers Life Insurance Company now owns 354,625 shares of the company's stock valued at $4,388,000 after purchasing an additional 317,225 shares during the period. State Street Corp acquired a new position in shares of Sigma Lithium during the third quarter worth $1,831,000. Finally, Polar Asset Management Partners Inc. boosted its stake in shares of Sigma Lithium by 22.0% in the third quarter. Polar Asset Management Partners Inc. now owns 246,500 shares of the company's stock valued at $3,047,000 after purchasing an additional 44,400 shares during the period. 64.86% of the stock is currently owned by institutional investors and hedge funds.

Sigma Lithium Stock Down 0.3 %

NASDAQ SGML traded down $0.04 during mid-day trading on Friday, reaching $11.50. 564,756 shares of the company's stock traded hands, compared to its average volume of 755,845. The company has a fifty day simple moving average of $11.35 and a 200-day simple moving average of $12.24. Sigma Lithium Co. has a 1-year low of $8.47 and a 1-year high of $19.20. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -23.96 and a beta of 0.21. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.02.

Remove Ads

Wall Street Analyst Weigh In

Separately, Bank of America dropped their price target on shares of Sigma Lithium from $25.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th.

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.