FY2024 Earnings Estimate for Sigma Lithium Issued By Cormark

Sigma Lithium Co. (NASDAQ:SGML - Free Report) - Investment analysts at Cormark cut their FY2024 EPS estimates for shares of Sigma Lithium in a research report issued on Tuesday, February 25th. Cormark analyst S. Gill now anticipates that the company will earn ($0.13) per share for the year, down from their prior estimate of ($0.12). The consensus estimate for Sigma Lithium's current full-year earnings is ($0.12) per share.

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 Stock Performance

Shares of SGML stock traded down $0.36 during trading on Thursday, reaching $11.31. 409,149 shares of the company's stock traded hands, compared to its average volume of 502,570. The company has a market capitalization of $1.26 billion, a P/E ratio of -23.56 and a beta of 0.22. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.02. The firm's 50-day moving average is $11.47 and its 200 day moving average is $12.04. Sigma Lithium has a 1 year low of $8.47 and a 1 year high of $19.20.

Institutional Trading of Sigma Lithium

A number of hedge funds and other institutional investors have recently bought and sold shares of SGML. Van ECK Associates Corp increased its holdings in Sigma Lithium by 3.9% during the 3rd quarter. Van ECK Associates Corp now owns 1,248,755 shares of the company's stock worth $15,435,000 after acquiring an additional 47,143 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Sigma Lithium by 848.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 354,625 shares of the company's stock worth $4,388,000 after acquiring an additional 317,225 shares during the period. Bridgewater Associates LP bought a new stake in Sigma Lithium during the 3rd quarter worth approximately $4,584,000. Appian Way Asset Management LP increased its holdings in Sigma Lithium by 57.2% during the 3rd quarter. Appian Way Asset Management LP now owns 4,092,401 shares of the company's stock worth $50,582,000 after acquiring an additional 1,488,265 shares during the period. Finally, Polar Asset Management Partners Inc. increased its holdings in Sigma Lithium by 22.0% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 246,500 shares of the company's stock worth $3,047,000 after acquiring an additional 44,400 shares during the period. Institutional investors own 64.86% of the company's stock.

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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.