Sigma Lithium (NASDAQ:SGML) Stock Rating Upgraded by Zacks Investment Research

Sigma Lithium (NASDAQ:SGMLGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday, Zacks.com reports. The brokerage currently has a $18.00 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.49% from the company’s previous close.

According to Zacks, “Sigma Lithium Corporation is involved in producing battery-grade lithium. Sigma Lithium Corporation is based in VANCOUVER, BC. “

Several other analysts have also recently commented on the company. National Bank Financial increased their target price on Sigma Lithium from C$13.00 to C$17.00 in a report on Thursday, January 20th. Canaccord Genuity Group increased their target price on Sigma Lithium from $17.00 to $24.00 in a report on Wednesday, April 6th. Canaccord Genuity Group increased their target price on Sigma Lithium from C$24.00 to C$25.00 and gave the stock a “buy” rating in a report on Wednesday, April 13th. Finally, Bank of America began coverage on Sigma Lithium in a research note on Thursday, January 6th. They set a “buy” rating and a $14.00 price target on the stock.

Shares of SGML stock opened at $15.86 on Friday. The business’s fifty day simple moving average is $12.49. Sigma Lithium has a 52 week low of $3.84 and a 52 week high of $19.48.

Several institutional investors and hedge funds have recently modified their holdings of SGML. JGP Global Gestao de Recursos Ltda. acquired a new position in shares of Sigma Lithium during the third quarter valued at $42,844,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Sigma Lithium in the fourth quarter valued at about $6,714,000. National Bank of Canada FI acquired a new position in Sigma Lithium in the fourth quarter valued at about $3,114,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Sigma Lithium in the fourth quarter valued at about $1,024,000. Finally, NewGen Asset Management Ltd acquired a new position in Sigma Lithium in the fourth quarter valued at about $781,000. 5.46% of the stock is currently owned by institutional investors and hedge funds.

About Sigma Lithium (Get Rating)

Sigma Lithium Corporation engages in the exploration and development of lithium deposits in Brazil. It holds 100% interest in the Grota do Cirilo, Genipapo, Santa Clara, and São José properties comprising 27 mineral rights covering an area of approximately 191 square kilometers located in the Araçuaí and Itinga regions of the state of Minas Gerais, Brazil.

See Also

Get a free copy of the Zacks research report on Sigma Lithium (SGML)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Sigma Lithium Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sigma Lithium and related companies with MarketBeat.com's FREE daily email newsletter.