Sigma Lithium (NASDAQ:SGML) Price Target Cut to $20.00 by Analysts at BMO Capital Markets

Sigma Lithium (NASDAQ:SGML) had its price objective decreased by BMO Capital Markets from $25.00 to $20.00 in a research note released on Monday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Separately, Bank of America boosted their price target on Sigma Lithium from $25.00 to $29.00 and gave the company a buy rating in a research note on Monday, May 20th.

Sigma Lithium Price Performance

Shares of SGML opened at $10.72 on Monday. The firm has a market capitalization of $1.19 billion, a PE ratio of -82.46 and a beta of 0.17. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.07 and a quick ratio of 0.98. The company’s fifty day moving average price is $11.29 and its 200-day moving average price is $13.44. Sigma Lithium has a 1-year low of $8.47 and a 1-year high of $39.38.

Hedge Funds Weigh In On Sigma Lithium

A number of institutional investors have recently bought and sold shares of SGML. Fourth Sail Capital LP increased its stake in shares of Sigma Lithium by 1,572.2% in the second quarter. Fourth Sail Capital LP now owns 3,134,797 shares of the company’s stock worth $37,712,000 after acquiring an additional 2,947,331 shares during the period. Appian Way Asset Management LP boosted its holdings in Sigma Lithium by 14.7% in the second quarter. Appian Way Asset Management LP now owns 2,604,136 shares of the company’s stock valued at $31,328,000 after purchasing an additional 334,034 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in Sigma Lithium by 26.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,258,218 shares of the company’s stock worth $71,202,000 after purchasing an additional 466,688 shares during the period. Electron Capital Partners LLC purchased a new position in shares of Sigma Lithium during the 4th quarter valued at about $69,703,000. Finally, Millennium Management LLC lifted its holdings in shares of Sigma Lithium by 16.9% in the 2nd quarter. Millennium Management LLC now owns 1,243,579 shares of the company’s stock valued at $14,960,000 after buying an additional 179,355 shares during the period. 64.86% of the stock is owned by hedge funds and other institutional investors.

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.