Sigma Lithium (NASDAQ:SGML) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Sigma Lithium (NASDAQ:SGMLGet Rating) from a buy rating to a hold rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “Sigma Lithium Corporation is involved in producing battery-grade lithium. Sigma Lithium Corporation is based in VANCOUVER, BC. “

Several other research firms have also weighed in on SGML. Canaccord Genuity Group lifted their target price on shares of Sigma Lithium from C$24.00 to C$25.00 and gave the company a buy rating in a report on Wednesday, April 13th. Canaccord Genuity Group lifted their target price on shares of Sigma Lithium from $17.00 to $24.00 in a report on Wednesday, April 6th.

NASDAQ:SGML opened at $18.30 on Wednesday. The firm’s fifty day simple moving average is $15.48 and its 200 day simple moving average is $12.00. Sigma Lithium has a twelve month low of $4.48 and a twelve month high of $19.48.

Sigma Lithium (NASDAQ:SGMLGet Rating) last posted its earnings results on Friday, April 1st. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.05). Sell-side analysts forecast that Sigma Lithium will post -0.07 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Principal Street Partners LLC increased its stake in Sigma Lithium by 6.4% during the 4th quarter. Principal Street Partners LLC now owns 37,235 shares of the company’s stock worth $388,000 after buying an additional 2,235 shares during the period. NewGen Asset Management Ltd purchased a new stake in Sigma Lithium during the 4th quarter worth $781,000. National Bank of Canada FI bought a new stake in shares of Sigma Lithium in the 4th quarter worth about $3,114,000. JPMorgan Chase & Co. bought a new stake in shares of Sigma Lithium in the 1st quarter worth about $207,000. Finally, UBS Group AG bought a new stake in shares of Sigma Lithium in the 3rd quarter worth about $40,000. 6.58% of the stock is currently owned by hedge funds and other institutional investors.

About Sigma Lithium (Get Rating)

Sigma Lithium Corporation engages in the exploration and development of lithium deposits in Brazil. It holds 100% interest in the Grota do Cirilo, Genipapo, Santa Clara, and São José properties comprising 27 mineral rights covering an area of approximately 191 square kilometers located in the Araçuaí and Itinga regions of the state of Minas Gerais, Brazil.

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