Sigma Lithium Co. (NASDAQ:SGML) Stake Raised by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in Sigma Lithium Co. (NASDAQ:SGML) by 47.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,057,916 shares of the company’s stock after purchasing an additional 338,380 shares during the quarter. Van ECK Associates Corp’s holdings in Sigma Lithium were worth $13,711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SGML. Citigroup Inc. purchased a new position in Sigma Lithium in the 3rd quarter worth about $423,000. Schonfeld Strategic Advisors LLC purchased a new position in Sigma Lithium in the 3rd quarter worth about $3,484,000. Alps Advisors Inc. increased its stake in Sigma Lithium by 54.7% in the 3rd quarter. Alps Advisors Inc. now owns 8,778 shares of the company’s stock worth $285,000 after purchasing an additional 3,104 shares in the last quarter. Capricorn Fund Managers Ltd increased its stake in Sigma Lithium by 5.4% in the 4th quarter. Capricorn Fund Managers Ltd now owns 83,800 shares of the company’s stock worth $2,642,000 after purchasing an additional 4,300 shares in the last quarter. Finally, Inscription Capital LLC increased its stake in Sigma Lithium by 110.5% in the 4th quarter. Inscription Capital LLC now owns 20,000 shares of the company’s stock worth $631,000 after purchasing an additional 10,500 shares in the last quarter. Hedge funds and other institutional investors own 64.86% of the company’s stock.

Sigma Lithium Stock Performance

NASDAQ:SGML traded down $0.05 on Friday, hitting $12.37. 282,061 shares of the company’s stock traded hands, compared to its average volume of 1,142,772. The company has a current ratio of 1.07, a quick ratio of 0.98 and a debt-to-equity ratio of 0.02. Sigma Lithium Co. has a 1 year low of $10.46 and a 1 year high of $41.90. The firm has a 50-day moving average price of $14.76 and a 200-day moving average price of $17.38.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). The company had revenue of $37.39 million during the quarter, compared to analyst estimates of $57.79 million. Sell-side analysts expect that Sigma Lithium Co. will post 0.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Bank of America lifted their price target on Sigma Lithium from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, May 20th. BMO Capital Markets lowered their target price on Sigma Lithium from $38.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 27th.

Sigma Lithium 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.