Van ECK Associates Corp Grows Stock Position in Sigma Lithium Co. (NASDAQ:SGML)

Van ECK Associates Corp grew its stake in Sigma Lithium Co. (NASDAQ:SGML - Free Report) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,248,755 shares of the company's stock after purchasing an additional 47,143 shares during the period. Van ECK Associates Corp owned about 1.13% of Sigma Lithium worth $15,435,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new stake in Sigma Lithium during the 2nd quarter valued at $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Sigma Lithium during the second quarter worth approximately $107,000. Tidal Investments LLC grew its holdings in shares of Sigma Lithium by 65.9% in the first quarter. Tidal Investments LLC now owns 44,241 shares of the company's stock worth $573,000 after purchasing an additional 17,566 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Sigma Lithium in the second quarter worth approximately $672,000. Finally, Perpetual Ltd bought a new position in shares of Sigma Lithium in the third quarter worth approximately $2,096,000. 64.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets dropped their target price on shares of Sigma Lithium from $25.00 to $20.00 and set an "outperform" rating on the stock in a report on Monday, August 19th.

Sigma Lithium Stock Performance

Shares of NASDAQ:SGML traded down $0.10 during mid-day trading on Wednesday, reaching $13.23. 854,287 shares of the company traded hands, compared to its average volume of 1,019,077. The company's 50 day moving average price is $12.41 and its 200-day moving average price is $12.84. The firm has a market cap of $1.47 billion, a PE ratio of 147.00 and a beta of 0.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.05 and a quick ratio of 0.96. Sigma Lithium Co. has a 52 week low of $8.47 and a 52 week high of $34.31.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $69.70 million. On average, equities analysts expect that Sigma Lithium Co. will post 0.05 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.