Sigma Lithium Co. (NASDAQ:SGML) Stake Increased by Fourth Sail Capital LP

Fourth Sail Capital LP boosted its holdings in Sigma Lithium Co. (NASDAQ:SGML) by 1,572.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,134,797 shares of the company’s stock after acquiring an additional 2,947,331 shares during the quarter. Sigma Lithium comprises approximately 8.6% of Fourth Sail Capital LP’s portfolio, making the stock its 3rd biggest holding. Fourth Sail Capital LP owned about 2.83% of Sigma Lithium worth $37,712,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Sigma Lithium during the 4th quarter valued at approximately $17,608,000. 1832 Asset Management L.P. raised its holdings in Sigma Lithium by 9.4% during the fourth quarter. 1832 Asset Management L.P. now owns 266,562 shares of the company’s stock worth $8,405,000 after purchasing an additional 22,938 shares during the last quarter. Bardin Hill Management Partners LP purchased a new stake in Sigma Lithium during the fourth quarter worth $1,949,000. PenderFund Capital Management Ltd. acquired a new stake in Sigma Lithium in the fourth quarter valued at $32,000. Finally, Frontier Capital Management Co. LLC grew its holdings in Sigma Lithium by 26.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,258,218 shares of the company’s stock valued at $71,202,000 after purchasing an additional 466,688 shares during the last quarter. Institutional investors and hedge funds own 64.86% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SGML. 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 cut their target price on shares of Sigma Lithium from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Monday, August 19th.

Sigma Lithium Price Performance

SGML stock opened at $10.74 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.96 and a current ratio of 1.05. The stock’s 50 day moving average price is $10.59 and its 200 day moving average price is $13.01. The firm has a market cap of $1.19 billion, a P/E ratio of -82.62 and a beta of 0.16. Sigma Lithium Co. has a 1 year low of $8.47 and a 1 year high of $39.38.

Sigma Lithium (NASDAQ:SGML) last issued its quarterly earnings data on Thursday, August 15th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.23). The company had revenue of $45.94 million during the quarter, compared to analysts’ expectations of $69.70 million. Sigma Lithium had a net margin of 4.28% and a return on equity of 6.18%. On average, sell-side analysts expect that Sigma Lithium Co. will post 0.04 earnings per share for the current fiscal year.

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.