Norges Bank Takes Position in Sigma Lithium Co. (NASDAQ:SGML)

Norges Bank bought a new position in Sigma Lithium Co. (NASDAQ:SGML - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,500,000 shares of the company's stock, valued at approximately $28,050,000. Norges Bank owned approximately 2.25% of Sigma Lithium as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Sigma Lithium by 13,614.9% during the fourth quarter. JPMorgan Chase & Co. now owns 33,053 shares of the company's stock valued at $371,000 after purchasing an additional 32,812 shares in the last quarter. American Century Companies Inc. bought a new position in Sigma Lithium during the 4th quarter valued at about $408,000. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Sigma Lithium by 203.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,183,675 shares of the company's stock valued at $24,501,000 after acquiring an additional 1,464,475 shares during the period. U S Global Investors Inc. boosted its holdings in shares of Sigma Lithium by 233.3% during the 4th quarter. U S Global Investors Inc. now owns 10,000 shares of the company's stock valued at $112,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Sigma Lithium in the fourth quarter worth approximately $728,000. Hedge funds and other institutional investors own 64.86% of the company's stock.

Analysts Set New Price Targets

Separately, Bank of America dropped their target price 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.

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Sigma Lithium Stock Performance

Shares of SGML traded up $0.18 during trading hours on Friday, hitting $8.12. The stock had a trading volume of 535,671 shares, compared to its average volume of 756,957. Sigma Lithium Co. has a 12 month low of $7.05 and a 12 month high of $19.20. The stock has a fifty day moving average price of $10.75 and a 200 day moving average price of $12.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.84 and a quick ratio of 0.72. The firm has a market capitalization of $903.59 million, a PE ratio of -16.92 and a beta of 0.26.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last released its quarterly earnings results on Monday, March 31st. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.14). The business 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%. Analysts anticipate that Sigma Lithium Co. will post -0.12 EPS for the current 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.