Polymer Capital Management HK LTD Makes New $660,000 Investment in Sigma Lithium Corporation $SGML

Polymer Capital Management HK LTD acquired a new stake in Sigma Lithium Corporation (NASDAQ:SGML) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $660,000.

Several other institutional investors and hedge funds have also made changes to their positions in SGML. Goldman Sachs Group Inc. lifted its position in shares of Sigma Lithium by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 113,299 shares of the company’s stock valued at $1,178,000 after acquiring an additional 9,748 shares in the last quarter. Invesco Ltd. lifted its position in shares of Sigma Lithium by 22.2% in the second quarter. Invesco Ltd. now owns 899,945 shares of the company’s stock valued at $4,050,000 after acquiring an additional 163,335 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Sigma Lithium in the second quarter valued at $560,000. Jump Financial LLC purchased a new stake in shares of Sigma Lithium in the second quarter valued at $131,000. Finally, Nebula Research & Development LLC purchased a new stake in shares of Sigma Lithium in the second quarter valued at $87,000. 64.86% of the stock is currently owned by hedge funds and other institutional investors.

Sigma Lithium Stock Up 8.5%

SGML opened at $15.98 on Friday. Sigma Lithium Corporation has a 12 month low of $4.25 and a 12 month high of $24.48. The stock has a market cap of $1.79 billion, a P/E ratio of -40.97 and a beta of 0.54. The stock’s 50 day moving average price is $17.40 and its 200 day moving average price is $14.16. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.32 and a quick ratio of 0.25.

Sigma Lithium (NASDAQ:SGML) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%.The company had revenue of $42.34 million for the quarter, compared to analysts’ expectations of $42.48 million. As a group, research analysts predict that Sigma Lithium Corporation will post 1.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Zacks Research upgraded Sigma Lithium from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 21st. Bank of America upgraded Sigma Lithium from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $17.00 in a research note on Thursday, April 2nd. Wall Street Zen lowered Sigma Lithium from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sigma Lithium in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

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.