Bridgewater Associates LP Makes New $4.58 Million Investment in Sigma Lithium Co. (NASDAQ:SGML)

Bridgewater Associates LP bought a new position in Sigma Lithium Co. (NASDAQ:SGML) in the 3rd quarter, Holdings Channel reports. The firm bought 370,865 shares of the company’s stock, valued at approximately $4,584,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SGML. The Manufacturers Life Insurance Company lifted its stake in Sigma Lithium by 848.2% in the third quarter. The Manufacturers Life Insurance Company now owns 354,625 shares of the company’s stock worth $4,388,000 after acquiring an additional 317,225 shares during the period. Van ECK Associates Corp raised its holdings in shares of Sigma Lithium by 3.9% in the 3rd quarter. Van ECK Associates Corp now owns 1,248,755 shares of the company’s stock valued at $15,435,000 after purchasing an additional 47,143 shares in the last quarter. Perpetual Ltd purchased a new stake in shares of Sigma Lithium in the 3rd quarter worth approximately $2,096,000. SG Americas Securities LLC boosted its stake in shares of Sigma Lithium by 100.8% during the third quarter. SG Americas Securities LLC now owns 112,242 shares of the company’s stock valued at $1,387,000 after purchasing an additional 56,347 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in Sigma Lithium during the second quarter valued at approximately $48,000. Institutional investors own 64.86% of the company’s stock.

Analyst Upgrades and Downgrades

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

Sigma Lithium Price Performance

Shares of SGML stock opened at $13.76 on Friday. The company has a market cap of $1.53 billion, a P/E ratio of -28.67 and a beta of 0.16. 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 stock’s 50-day moving average is $13.55 and its 200 day moving average is $12.66. Sigma Lithium Co. has a 1-year low of $8.47 and a 1-year high of $34.31.

About Sigma Lithium

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.