Sigma Lithium Slides 11.33% as Major Indexes Rise

Sigma Lithium shares fell 11.33% to close at $8.34 in the latest session, even as major U.S. indexes edged higher. The S&P 500 gained 0.2%, while the Dow and Nasdaq each rose 0.04%.

The shares also lost 26.85% over the past month. That decline exceeded the 8.41% drop in the Basic Materials sector and the S&P 500’s 0.35% fall over the same period.

Investors are looking ahead to the company’s upcoming earnings release. Zacks estimates call for earnings of $0.08 per share and revenue of $55.79 million, increases of 180% and 95.4%, respectively, from the year-earlier quarter.

For the full year, Zacks’ consensus estimates project earnings of $0.50 per share and revenue of $276.56 million. Those figures represent projected gains of 211.11% and 151.39%, respectively, from the previous year.

Zacks said its consensus earnings estimate rose 11.11% over the past 30 days. It also reported a forward price-to-earnings ratio of 18.8 for Sigma Lithium, compared with an industry average of 18.74.