Levin Capital Strategies L.P. Grows Position in Sigma Lithium Corporation $SGML

by · The Markets Daily

Levin Capital Strategies L.P. increased its position in Sigma Lithium Corporation (NASDAQ:SGML – Free Report) by 125.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 22,500 shares of the company’s stock after purchasing an additional 12,500 shares during the period. Levin Capital Strategies L.P.’s holdings in Sigma Lithium were worth $101,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new stake in shares of Sigma Lithium during the 1st quarter valued at $109,000. Aberdeen Group plc purchased a new position in Sigma Lithium during the 2nd quarter valued at about $187,000. Ascent Group LLC purchased a new position in Sigma Lithium during the 1st quarter valued at about $264,000. Maven Securities LTD boosted its stake in Sigma Lithium by 185.9% during the first quarter. Maven Securities LTD now owns 42,891 shares of the company’s stock worth $446,000 after acquiring an additional 27,891 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Sigma Lithium in the first quarter worth about $550,000. Hedge funds and other institutional investors own 64.86% of the company’s stock.

Sigma Lithium Stock Performance

SGML stock opened at $5.36 on Tuesday. The stock’s 50 day simple moving average is $6.35 and its 200 day simple moving average is $6.14. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 1.26. Sigma Lithium Corporation has a 12-month low of $4.25 and a 12-month high of $14.77. The stock has a market capitalization of $597.00 million, a PE ratio of -12.18 and a beta of 0.08.

Sigma Lithium (NASDAQ:SGML – Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.14). Sigma Lithium had a negative net margin of 35.69% and a negative return on equity of 47.19%. The business had revenue of $16.89 million for the quarter, compared to the consensus estimate of $50.44 million. As a group, research analysts forecast that Sigma Lithium Corporation will post -0.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on SGML. Wall Street Zen lowered shares of Sigma Lithium from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Zacks Research cut Sigma Lithium from a “hold” rating to a “strong sell” rating in a research note on Monday, October 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sigma Lithium in a report on Wednesday, October 8th. Bank of America downgraded Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a report on Friday, October 24th. Finally, Cormark upgraded shares of Sigma Lithium to a “moderate buy” rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Sell” and a consensus target price of $7.00.

Check Out Our Latest Research Report on Sigma Lithium

About Sigma Lithium

(Free Report)

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.

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