Q1 2024 Earnings Forecast for Sigma Lithium Co. Issued By Cormark (NASDAQ:SGML)

Sigma Lithium Co. (NASDAQ:SGML) – Research analysts at Cormark boosted their Q1 2024 earnings per share (EPS) estimates for shares of Sigma Lithium in a research report issued on Tuesday, April 9th. Cormark analyst M. Whale now forecasts that the company will earn $0.01 per share for the quarter, up from their prior forecast of ($0.06). The consensus estimate for Sigma Lithium’s current full-year earnings is $0.03 per share. Cormark also issued estimates for Sigma Lithium’s Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.13 EPS, Q4 2024 earnings at $0.17 EPS, FY2024 earnings at $0.35 EPS and FY2025 earnings at $1.88 EPS.

Several other brokerages have also recently commented on SGML. BMO Capital Markets reduced their price target on shares of Sigma Lithium from $38.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 27th. Bank of America raised their price target on shares of Sigma Lithium from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, March 18th.

Sigma Lithium Price Performance

Shares of NASDAQ SGML opened at $15.60 on Friday. Sigma Lithium has a 12-month low of $10.46 and a 12-month high of $43.18. The company has a current ratio of 1.54, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average price of $13.91 and a 200 day moving average price of $22.86.

Hedge Funds Weigh In On Sigma Lithium

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in shares of Sigma Lithium by 13.4% during the 3rd quarter. Van ECK Associates Corp now owns 887,543 shares of the company’s stock worth $28,791,000 after purchasing an additional 104,630 shares during the period. Principal Financial Group Inc. acquired a new stake in Sigma Lithium in the third quarter worth $9,605,000. Schonfeld Strategic Advisors LLC acquired a new stake in Sigma Lithium in the third quarter worth $3,484,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Sigma Lithium by 23.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 718,536 shares of the company’s stock worth $22,655,000 after acquiring an additional 134,389 shares during the period. Finally, Alps Advisors Inc. raised its holdings in shares of Sigma Lithium by 54.7% during the third quarter. Alps Advisors Inc. now owns 8,778 shares of the company’s stock worth $285,000 after acquiring an additional 3,104 shares during the period. Institutional investors and hedge funds own 64.86% of the company’s stock.

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.