Sigma Lithium (NASDAQ:SGML) Price Target Lowered to $16.00 at Bank of America

Sigma Lithium (NASDAQ:SGML) had its price objective decreased by Bank of America from $25.00 to $16.00 in a report issued on Tuesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Sigma Lithium Trading Up 0.6 %

NASDAQ:SGML opened at $11.98 on Tuesday. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -24.96 and a beta of 0.23. Sigma Lithium has a 52 week low of $8.47 and a 52 week high of $27.20. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $12.54 and a 200 day moving average of $12.01.

Institutional Trading of Sigma Lithium

A number of institutional investors have recently bought and sold shares of the stock. Fourth Sail Capital LP increased its stake in Sigma Lithium by 1,572.2% during the 2nd quarter. Fourth Sail Capital LP now owns 3,134,797 shares of the company’s stock valued at $37,712,000 after purchasing an additional 2,947,331 shares in the last quarter. Appian Way Asset Management LP grew its holdings in shares of Sigma Lithium by 57.2% during the third quarter. Appian Way Asset Management LP now owns 4,092,401 shares of the company’s stock valued at $50,582,000 after buying an additional 1,488,265 shares during the last quarter. Bridgewater Associates LP acquired a new position in shares of Sigma Lithium in the 3rd quarter valued at $4,584,000. The Manufacturers Life Insurance Company raised its stake in Sigma Lithium by 848.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 354,625 shares of the company’s stock worth $4,388,000 after acquiring an additional 317,225 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Sigma Lithium by 16.9% during the 2nd quarter. Millennium Management LLC now owns 1,243,579 shares of the company’s stock worth $14,960,000 after acquiring an additional 179,355 shares during the period. 64.86% of the stock is currently owned by institutional investors and hedge funds.

Sigma Lithium Company 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.