In the latest close session, Sigma Lithium Corporation (SGML) was up +2.33% at $12.30. The stock outperformed the S&P 500, which registered a daily loss of 0.51%. Elsewhere, the Dow saw an upswing of 0.53%, while the tech-heavy Nasdaq depreciated by 1.51%.
Coming into today, shares of the company had lost 25.94% in the past month. In that same time, the Basic Materials sector gained 16.13%, while the S&P 500 gained 0.93%.
The investment community will be closely monitoring the performance of Sigma Lithium Corporation in its forthcoming earnings report. The company is forecasted to report an EPS of -$0.12, showcasing a 50% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $35.9 million, reflecting a 25.26% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.35 per share and revenue of $129 million, indicating changes of +23.91% and 0%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Sigma Lithium Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 31.25% higher within the past month. At present, Sigma Lithium Corporation boasts a Zacks Rank of #2 (Buy).
With respect to valuation, Sigma Lithium Corporation is currently being traded at a Forward P/E ratio of 19.08. This expresses a discount compared to the average Forward P/E of 21.18 of its industry.
Meanwhile, SGML's PEG ratio is currently 0.32. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Mining - Miscellaneous industry had an average PEG ratio of 1.06.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 60, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Sigma Lithium Corporation (SGML): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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