Sigma Lithium

SGML · TSX

$7.83+$0.35 (+4.68%)TodayMarket closed · Oct 23, 7:30 PM ET

Prev close $7.48

SGML analyst rating

BuyConsensus of 4 analysts over the last 12 months. 50% rate it a buy.

Strong buy0
Buy2
Hold2
Underperform0
Sell0

12-month price target · 6 analysts

Average $10.10 (+29.0% upside)

Low: $7.03
Now: $7.83
High: $16.59

Upgrades and downgrades

The latest rating actions, newest first

SGML analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
BMO Capital	Oct 1, 2026	Downgrade	Outperform → Market Perform	$10.00	45%
JP Morgan	Sep 18, 2026	Initiates	Overweight	$14.00	32%
B of A Securities	Apr 2, 2026	Upgrade	Neutral → Buy	$14.00 → $17.00	33%
Canaccord Genuity	Jan 16, 2026	Downgrade	Buy → Hold	$14.00 → $20.50	25%
B of A Securities	Jan 8, 2026	Downgrade	Neutral → Underperform	$11.00 → $13.00	33%

The case for and against

Updated Sep 26, 2024

Bull case

Sigma Lithium Corp is experiencing an improved outlook as it increases its post-expansion spodumene sales forecast to approximately 750 kilotonnes, indicating robust operational performance at its Grota do Cirilo Project. The company's projected cash costs are notably decreasing, with an estimated $553 per tonne at the port, alongside anticipated price recoveries for lithium, reaching about $1.6k per tonne by the end of 2024 and $2k by mid-2025. With significant assets in Brazil and the potential for further resource extensions, Sigma Lithium is positioned for a positive re-rating as a lithium feedstock producer, driven by increasing production capacity and favorable market conditions.

Bear case

Sigma Lithium Corp faces a negative outlook primarily due to declining spodumene concentrate prices, which have dropped to approximately $1,000 per ton, raising concerns about the company’s ability to generate positive EBITDA in a bearish price scenario. The anticipated feasibility study for project expansion has been delayed, likely linked to the need for funding amidst falling prices, which has led to significant downward revisions of projected EBITDA for 2024 and 2025. Furthermore, the company's quarterly performance is expected to be adversely affected by a retroactive financial hit, contributing to a pessimistic financial trajectory ahead of a potentially turbulent Q4 report.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.