Sigma Lithium Co. to Post Q3 2023 Earnings of $0.93 Per Share, Cormark Forecasts (NASDAQ:SGML)

Posted by Defense World Staff on Sep 11th, 2023

Sigma Lithium Co. (NASDAQ:SGML – Free Report) – Investment analysts at Cormark reduced their Q3 2023 EPS estimates for Sigma Lithium in a research report issued to clients and investors on Thursday, September 7th. Cormark analyst M. Whale now anticipates that the company will post earnings per share of $0.93 for the quarter, down from their prior forecast of $1.33. The consensus estimate for Sigma Lithium’s current full-year earnings is $2.91 per share. Cormark also issued estimates for Sigma Lithium’s Q4 2023 earnings at $1.26 EPS, FY2023 earnings at $1.72 EPS, Q2 2024 earnings at $0.96 EPS, Q3 2024 earnings at $0.99 EPS, Q4 2024 earnings at $2.50 EPS and FY2024 earnings at $5.53 EPS.

Sigma Lithium (NASDAQ:SGML – Get Free Report) last announced its quarterly earnings results on Thursday, August 10th. The company reported ($0.22) EPS for the quarter.

Several other research analysts have also recently weighed in on the stock. BMO Capital Markets decreased their price objective on shares of Sigma Lithium from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Wednesday, September 6th. Bank of America lowered their price target on Sigma Lithium from $44.00 to $42.00 in a report on Sunday, September 3rd.

Check Out Our Latest Report on SGML

Sigma Lithium Stock Down 1.7 %

NASDAQ:SGML opened at $32.02 on Monday. The firm has a market cap of $3.50 billion, a P/E ratio of -27.37 and a beta of 0.36. Sigma Lithium has a fifty-two week low of $23.43 and a fifty-two week high of $43.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.13 and a current ratio of 1.16. The firm has a 50-day simple moving average of $36.01 and a two-hundred day simple moving average of $36.82.

Institutional Investors Weigh In On Sigma Lithium

A number of hedge funds have recently modified their holdings of SGML. Nucleo Capital LTDA. lifted its position in Sigma Lithium by 1.4% during the first quarter. Nucleo Capital LTDA. now owns 3,045,160 shares of the company’s stock valued at $114,559,000 after purchasing an additional 42,214 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of Sigma Lithium by 44.6% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,542,175 shares of the company’s stock valued at $62,150,000 after buying an additional 475,794 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Sigma Lithium by 2.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 674,588 shares of the company’s stock valued at $25,883,000 after acquiring an additional 14,461 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of 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 acquiring an additional 245,052 shares during the period. Finally, SIR Capital Management L.P. increased its holdings in Sigma Lithium by 13.5% in the 1st quarter. SIR Capital Management L.P. now owns 485,846 shares of the company’s stock worth $18,278,000 after acquiring an additional 57,900 shares in the last quarter. Institutional investors own 19.26% 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.