Van ECK Associates Corp Acquires 47,143 Shares of Sigma Lithium Co. (NASDAQ:SGML)

Van ECK Associates Corp grew its holdings in Sigma Lithium Co. (NASDAQ:SGML) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,248,755 shares of the company’s stock after acquiring an additional 47,143 shares during the period. Van ECK Associates Corp owned 1.13% of Sigma Lithium worth $15,435,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SGML. 1832 Asset Management L.P. boosted its holdings in Sigma Lithium by 43.3% in the first quarter. 1832 Asset Management L.P. now owns 382,000 shares of the company’s stock worth $4,951,000 after purchasing an additional 115,438 shares in the last quarter. Appian Way Asset Management LP increased its holdings in shares of Sigma Lithium by 47.2% during the 1st quarter. Appian Way Asset Management LP now owns 2,270,102 shares of the company’s stock valued at $29,421,000 after acquiring an additional 728,260 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Sigma Lithium by 65.9% in the 1st quarter. Tidal Investments LLC now owns 44,241 shares of the company’s stock valued at $573,000 after acquiring an additional 17,566 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Sigma Lithium in the 2nd quarter worth approximately $672,000. Finally, CQS US LLC boosted its position in Sigma Lithium by 72.0% during the second quarter. CQS US LLC now owns 215,000 shares of the company’s stock worth $2,586,000 after purchasing an additional 90,000 shares during the period. Institutional investors and hedge funds own 64.86% of the company’s stock.

Sigma Lithium Trading Down 3.5 %

Sigma Lithium stock opened at $13.33 on Wednesday. The business’s 50-day simple moving average is $12.35 and its 200-day simple moving average is $12.84. Sigma Lithium Co. has a 52 week low of $8.47 and a 52 week high of $34.31. The firm has a market capitalization of $1.48 billion, a PE ratio of 148.11 and a beta of 0.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.96 and a current ratio of 1.05.

Sigma Lithium (NASDAQ:SGML) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.23). The business had revenue of $45.94 million for the quarter, compared to analyst estimates of $69.70 million. Sigma Lithium had a return on equity of 6.18% and a net margin of 4.28%. Equities research analysts forecast that Sigma Lithium Co. will post 0.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.