Van ECK Associates Corp Grows Position in Sigma Lithium Corporation $SGML

Van ECK Associates Corp grew its holdings in Sigma Lithium Corporation (NASDAQ:SGML) by 142.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,606,668 shares of the company’s stock after buying an additional 2,709,397 shares during the period. Van ECK Associates Corp’s holdings in Sigma Lithium were worth $29,529,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SGML. Norges Bank purchased a new position in Sigma Lithium in the 2nd quarter worth approximately $11,250,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Sigma Lithium by 24.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,550,713 shares of the company’s stock valued at $7,091,000 after purchasing an additional 309,338 shares during the period. Legal & General Group Plc raised its stake in Sigma Lithium by 0.5% during the third quarter. Legal & General Group Plc now owns 1,312,232 shares of the company’s stock worth $8,416,000 after purchasing an additional 7,157 shares during the period. Electron Capital Partners LLC grew its stake in shares of Sigma Lithium by 0.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,067,947 shares of the company’s stock valued at $4,806,000 after buying an additional 4,557 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Sigma Lithium by 67.6% in the 2nd quarter. Bank of America Corp DE now owns 1,041,043 shares of the company’s stock valued at $4,685,000 after buying an additional 419,740 shares during the period. 64.86% of the stock is owned by hedge funds and other institutional investors.

Sigma Lithium Stock Up 0.1%

Shares of NASDAQ SGML opened at $12.96 on Thursday. The company has a quick ratio of 0.32, a current ratio of 0.49 and a debt-to-equity ratio of 1.38. The business’s 50 day moving average is $13.35 and its two-hundred day moving average is $9.86. Sigma Lithium Corporation has a 52-week low of $4.25 and a 52-week high of $16.88. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -41.81, a PEG ratio of 0.35 and a beta of -0.06.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $18.00 price objective on shares of Sigma Lithium in a report on Wednesday, January 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sigma Lithium in a research note on Monday, December 29th. Citigroup downgraded Sigma Lithium from an “overweight” rating to an “underperform” rating in a research report on Thursday, January 8th. Bank of America upgraded Sigma Lithium from an “underperform” rating to a “neutral” rating and set a $14.00 price target for the company in a report on Tuesday, February 3rd. Finally, Canaccord Genuity Group raised Sigma Lithium from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $17.50.

Sigma Lithium Company Profile

Sigma Lithium Corp. is a Canada-based mineral exploration and development company focused on the sustainable production of battery-grade lithium from hard rock deposits. The company’s flagship asset is the Grota do Cirilo lithium project, located in the state of Minas Gerais, Brazil. Grota do Cirilo comprises a fully permitted, low-altitude spodumene mine and processing plant designed to produce high-purity lithium concentrate and downstream lithium hydroxide for the global electric vehicle and energy storage markets.

Since its founding in 2018, Sigma Lithium has pursued a vertically integrated approach, overseeing each stage of production from ore extraction and beneficiation to chemical conversion.