Cormark Analysts Boost Earnings Estimates for Sigma Lithium Co. (NASDAQ:SGML)

Posted by on Aug 5th, 2023

Sigma Lithium Co. (NASDAQ:SGML – Free Report) – Investment analysts at Cormark upped their Q2 2023 earnings per share (EPS) estimates for shares of Sigma Lithium in a research note issued on Tuesday, August 1st. Cormark analyst M. Whale now forecasts that the company will post earnings per share of ($0.16) for the quarter, up from their previous forecast of ($0.83). The consensus estimate for Sigma Lithium’s current full-year earnings is $2.39 per share. Cormark also issued estimates for Sigma Lithium’s Q3 2023 earnings at $0.17 EPS, FY2023 earnings at $0.09 EPS, Q1 2024 earnings at ($0.33) EPS, Q2 2024 earnings at $1.34 EPS, Q3 2024 earnings at $2.19 EPS, Q4 2024 earnings at $2.75 EPS and FY2024 earnings at $5.95 EPS.

Sigma Lithium (NASDAQ:SGML – Get Free Report) last released its quarterly earnings results on Monday, June 12th. The company reported ($0.53) earnings per share for the quarter.

Sigma Lithium Price Performance

Shares of Sigma Lithium stock opened at $37.51 on Friday. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of -43.11 and a beta of 0.27. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.06 and a current ratio of 3.06. The stock has a 50 day moving average price of $39.00 and a 200-day moving average price of $36.24. Sigma Lithium has a one year low of $18.53 and a one year high of $43.18.

Hedge Funds Weigh In On Sigma Lithium

A number of large investors have recently bought and sold shares of the business. Barclays PLC boosted its holdings in Sigma Lithium by 4.8% during the 2nd quarter. Barclays PLC now owns 38,746 shares of the company’s stock valued at $1,562,000 after acquiring an additional 1,760 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in Sigma Lithium during the 2nd quarter valued at $2,442,000. LPL Financial LLC raised its position in Sigma Lithium by 119.0% during the 2nd quarter. LPL Financial LLC now owns 14,820 shares of the company’s stock valued at $597,000 after purchasing an additional 8,054 shares in the last quarter. Petra Financial Advisors Inc. bought a new stake in Sigma Lithium during the 2nd quarter valued at $1,415,000. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in Sigma Lithium by 71.1% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 589,611 shares of the company’s stock valued at $23,740,000 after purchasing an additional 245,052 shares in the last quarter. Hedge funds and other institutional investors own 22.87% of the company’s stock.

About Sigma Lithium

(Get 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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Earnings History and Estimates for Sigma Lithium (NASDAQ:SGML)

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