Legal & General Group Plc Cuts Stake in Sigma Lithium Co. (NASDAQ:SGML)

Legal & General Group Plc lowered its stake in Sigma Lithium Co. (NASDAQ:SGML - Free Report) by 9.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,080,171 shares of the company's stock after selling 114,398 shares during the period. Legal & General Group Plc owned approximately 0.97% of Sigma Lithium worth $12,118,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SGML. Norges Bank bought a new position in shares of Sigma Lithium during the 4th quarter valued at approximately $28,050,000. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Sigma Lithium by 203.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,183,675 shares of the company's stock worth $24,501,000 after buying an additional 1,464,475 shares during the period. Invesco Ltd. increased its position in Sigma Lithium by 171.3% during the fourth quarter. Invesco Ltd. now owns 1,088,992 shares of the company's stock valued at $12,218,000 after acquiring an additional 687,639 shares during the last quarter. State Street Corp purchased a new stake in shares of Sigma Lithium in the third quarter valued at $1,831,000. Finally, Pinpoint Asset Management Ltd bought a new stake in shares of Sigma Lithium in the 4th quarter worth about $741,000. 64.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Sigma Lithium Trading Down 7.6 %

SGML traded down $0.59 during trading hours on Friday, reaching $7.14. 1,105,904 shares of the company's stock traded hands, compared to its average volume of 755,274. The firm has a 50-day moving average price of $10.41 and a 200 day moving average price of $11.83. The firm has a market capitalization of $794.53 million, a PE ratio of -14.87 and a beta of 0.26. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.02. Sigma Lithium Co. has a 52-week low of $6.77 and a 52-week high of $19.20.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last issued its earnings results on Monday, March 31st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.14). The company had revenue of $46.70 million for the quarter, compared to analysts' expectations of $71.77 million. Sigma Lithium had a negative net margin of 36.85% and a negative return on equity of 38.04%. As a group, sell-side analysts predict that Sigma Lithium Co. will post -0.12 EPS for the current fiscal year.

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.