Production Volume
77,000 tons (28% increase year-over-year) due to improved operational efficiencies and the introduction of a new lithium reprocessing circuit.
Sales Volume
73,900 tons (29% increase quarter-on-quarter) attributed to fine-tuning of commercial strategy and alignment with partners in the UAE.
Average CIF China Realized Price
$900 per ton, well above spot prices, reflecting successful commercial strategy.
All-in Sustaining Costs
$592 per ton (22% decrease quarter-over-quarter) due to economies of scale and improved operational efficiencies.
Cash and Operating Margin
42% cash margin in Q4, demonstrating resilience in cash generation despite pricing cycles.
Adjusted EBITDA Margin
26% in Q4, with reported EBITDA of $12 million, reflecting strong operational consistency.
Underlying EBITDA for the Year
$46 million (25% margin), adjusted for previous year's provisional price settlements.
Cash Position
$46 million, resulting from improved working capital efficiency and reduced short-term debt costs.
Short-term Debt Costs
$19 per ton, reduced from previous levels, contributing to improved financial efficiency.
Long-term Debt Maturity
Manageable within the context of business, representing only four months of sales at current lithium prices.
Wall Street analysts forecast SGML stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for SGML is 11.50 USD with a low forecast of 10.00 USD and a high forecast of 13.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
Wall Street analysts forecast SGML stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for SGML is 11.50 USD with a low forecast of 10.00 USD and a high forecast of 13.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Buy
0 Hold
1 Sell
Hold
Current: 12.540
Low
10.00
Averages
11.50
High
13.00
Current: 12.540
Low
10.00
Averages
11.50
High
13.00
Canaccord
Katie Lachapelle
Hold
to
Buy
upgrade
$28
2026-01-23
New
Reason
Canaccord
Katie Lachapelle
Price Target
$28
AI Analysis
2026-01-23
New
upgrade
Hold
to
Buy
Reason
Canaccord analyst Katie Lachapelle upgraded Sigma Lithium to Buy from Hold with a price target of C$28, up from C$20.50.
Canaccord
Buy
to
Hold
downgrade
$14
2026-01-16
Reason
Canaccord
Price Target
$14
2026-01-16
downgrade
Buy
to
Hold
Reason
As previously reported last night, Canaccord downgraded Sigma Lithium to Hold from Buy with a price target of C$20.50, up from C$14, as part of a Q4 preview for the Canadian critical minerals group. Updates to the firm's 2026 and 2027 price deck results in an average target price increase of 30%, but the firm downgraded Sigma as it awaits the resumption of mining on site and a resolution regarding the company's ability to use its waste piles, the analyst told investors.
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BofA
Neutral -> Underperform
downgrade
$11 -> $13
2026-01-08
Reason
BofA
Price Target
$11 -> $13
2026-01-08
downgrade
Neutral -> Underperform
Reason
BofA downgraded Sigma Lithium to Underperform from Neutral with a price target of $13, up from $11.
BofA
Neutral -> Underperform
downgrade
$11 -> $13
2026-01-08
Reason
BofA
Price Target
$11 -> $13
2026-01-08
downgrade
Neutral -> Underperform
Reason
As previously reported, BofA downgraded Sigma Lithium to Underperform from Neutral with a price target of $13, up from $11, citing unresolved operational and liquidity issues. While shares have rallied 158% since November 14 on improving lithium fundamentals, the firm sees more potential downside than upside as shares are now baking in considerable volumes from successful mining despite minimal progress in addressing outstanding issues and management having yet to provide clarity on the resumption of mining or receipt of cash from prepayments, the analyst tells investors.
About SGML
Sigma Lithium Corporation is a global lithium producer dedicated to powering electric vehicle batteries with carbon-neutral, socially and environmentally sustainable chemical-grade lithium concentrate. Its 100% wholly owned Grota do Cirilo operation is a fully integrated hard-rock lithium mining and industrial beneficiation complex. The site is located in the State of Minas Gerais, Brazil. The Company operates at the forefront of environmental and social sustainability in the electric vehicle battery materials supply chain, producing Quintuple Zero Green Lithium, which consists of net-zero carbon lithium made with zero dirty power, zero potable water, zero toxic chemicals, and zero tailings dams. It produces 270,000 tons of lithium oxide concentrated on an annualized basis at its Greentech Industrial Lithium Plant. It is also engaged in constructing a second plant to double production capacity to 520,000 tons of lithium oxide concentrate.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
