FY2024 Earnings Forecast for Sigma Lithium Issued By Cormark

Sigma Lithium Co. (NASDAQ:SGML) – Research analysts at Cormark dropped their FY2024 earnings estimates for shares of Sigma Lithium in a research report issued on Tuesday, February 25th. Cormark analyst S. Gill now anticipates that the company will post earnings of ($0.13) per share for the year, down from their previous estimate of ($0.12). The consensus estimate for Sigma Lithium’s current full-year earnings is ($0.12) per share.

Separately, Bank of America dropped their target price on shares of Sigma Lithium from $25.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th.

Sigma Lithium Price Performance

SGML opened at $11.31 on Thursday. The company has a 50-day moving average of $11.46 and a 200-day moving average of $12.00. The company has a market capitalization of $1.26 billion, a P/E ratio of -23.56 and a beta of 0.22. Sigma Lithium has a 1-year low of $8.47 and a 1-year high of $19.20. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.72 and a current ratio of 0.84.

Institutional Investors Weigh In On Sigma Lithium

A number of institutional investors have recently modified their holdings of the business. Appian Way Asset Management LP grew its position in shares of Sigma Lithium by 15.2% during the 4th quarter. Appian Way Asset Management LP now owns 4,712,425 shares of the company’s stock valued at $52,873,000 after buying an additional 620,024 shares during the last quarter. Norges Bank bought a new stake in shares of Sigma Lithium during the 4th quarter valued at about $28,050,000. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Sigma Lithium by 203.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,183,675 shares of the company’s stock valued at $24,501,000 after buying an additional 1,464,475 shares during the last quarter. Woodline Partners LP grew its position in shares of Sigma Lithium by 113.5% during the 4th quarter. Woodline Partners LP now owns 1,617,673 shares of the company’s stock valued at $18,150,000 after buying an additional 859,924 shares during the last quarter. Finally, Sourcerock Group LLC grew its position in shares of Sigma Lithium by 46.0% during the 4th quarter. Sourcerock Group LLC now owns 1,387,222 shares of the company’s stock valued at $15,565,000 after buying an additional 437,010 shares during the last quarter. Institutional investors own 64.86% of the company’s stock.

About Sigma Lithium

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.