FY2024 Earnings Forecast for Sigma Lithium Issued By Cormark

Sigma Lithium Co. (NASDAQ:SGML) – Analysts at Cormark dropped their FY2024 earnings per share estimates for shares of Sigma Lithium in a research note issued to investors on Tuesday, February 25th. Cormark analyst S. Gill now forecasts that the company will post earnings per share of ($0.13) 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 decreased their target price on shares of Sigma Lithium from $25.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th.

Sigma Lithium Stock Performance

Shares of NASDAQ SGML opened at $11.75 on Thursday. The company has a 50-day simple moving average of $11.43 and a 200-day simple moving average 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 company has a market cap of $1.31 billion, a PE ratio of -24.48 and a beta of 0.22. Sigma Lithium has a 12 month low of $8.47 and a 12 month high of $19.20.

Institutional Trading of Sigma Lithium

Hedge funds have recently added to or reduced their stakes in the business. Aquatic Capital Management LLC purchased a new position in shares of Sigma Lithium during the 4th quarter worth about $27,000. U S Global Investors Inc. increased its position in Sigma Lithium by 233.3% during the fourth quarter. U S Global Investors Inc. now owns 10,000 shares of the company’s stock worth $112,000 after purchasing an additional 7,000 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Sigma Lithium during the third quarter worth approximately $122,000. Pictet Asset Management Holding SA acquired a new position in shares of Sigma Lithium in the 4th quarter valued at $142,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Sigma Lithium during the 4th quarter valued at $150,000. 64.86% of the stock is owned by institutional investors and hedge funds.

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.