Van ECK Associates Corp Decreases Stock Holdings in Sigma Lithium Co. (NASDAQ:SGML)

Van ECK Associates Corp trimmed its holdings in shares of Sigma Lithium Co. (NASDAQ:SGML) by 18.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 719,536 shares of the company’s stock after selling 168,007 shares during the quarter. Van ECK Associates Corp owned 0.65% of Sigma Lithium worth $22,687,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Sigma Lithium by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 647,882 shares of the company’s stock valued at $20,543,000 after acquiring an additional 4,003 shares during the last quarter. Canton Hathaway LLC purchased a new stake in shares of Sigma Lithium during the fourth quarter valued at approximately $60,000. Mirae Asset Global Investments Co. Ltd. increased its position in Sigma Lithium by 23.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 718,536 shares of the company’s stock worth $22,655,000 after buying an additional 134,389 shares during the last quarter. U S Global Investors Inc. purchased a new stake in Sigma Lithium in the fourth quarter worth $252,000. Finally, Inscription Capital LLC increased its position in Sigma Lithium by 110.5% in the fourth quarter. Inscription Capital LLC now owns 20,000 shares of the company’s stock worth $631,000 after buying an additional 10,500 shares during the last quarter. 64.86% of the stock is owned by hedge funds and other institutional investors.

Sigma Lithium Price Performance

Sigma Lithium stock opened at $14.37 on Wednesday. Sigma Lithium Co. has a one year low of $10.46 and a one year high of $43.18. The business has a fifty day moving average price of $13.79 and a 200-day moving average price of $21.32. The company has a quick ratio of 1.32, a current ratio of 1.54 and a debt-to-equity ratio of 0.02.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SGML. Bank of America raised their target price on Sigma Lithium from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. BMO Capital Markets decreased their target price on Sigma Lithium from $38.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, March 27th.

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.