11 Biggest Lithium Stocks to Buy Right Now

6. Sigma Lithium Corporation (NASDAQ:SGML)

Market Capitalization as of September 6: $1.03 billion

Number of Hedge Fund Holders: 20

Sigma Lithium Corporation (NASDAQ:SGML) is carving out a significant role in the global lithium market, driven by its aggressive exploration and development efforts in Brazil. The company is deeply involved in the lithium-ion battery supply chain as it caters to the rising demand for electric vehicles worldwide. It owns several properties in Minas Gerais, Brazil, including Grota do Cirilo, Genipapo, Santa Clara, and São José, which together span approximately 185 square kilometers.

In February, the company received a letter of intention from the Development Bank of Brazil (BNDES) for additional funding aimed at expanding its Grota do Cirilo project. The funding is intended to boost the plant’s production capacity from 270,000 tonnes per year to 510,000 tonnes.

Additionally, it obtained a full environmental license for a second plant, which will allow the processing of up to 3.7 million tonnes per year. The regulatory approval is crucial for scaling up production to meet growing market demands. It takes the 6th spot on our list of biggest lithium stocks to buy right now.

Further strengthening its position, Sigma Lithium (NASDAQ:SGML) secured a development loan of BRL 487 million (approximately USD 87.5 million) from BNDES on August 29. The loan will finance the construction of the company’s second Greentech Carbon Neutral Plant in Brazil.

The plant is already under construction and is expected to be completed by summer 2025. The new facility is projected to double the production capacity of its Quintuple Zero Green Lithium, which brings the total capacity to around 520,000 tonnes per year.

The company’s performance in the second quarter of the year highlights its strong market presence. The company reported a significant increase in sales volume, with prices 10% higher than those of its competitors. Revenue surged to C$62.86 million, which marked a nearly 69% increase from the previous quarter. In addition, it managed to reduce its cash costs by 22%, which enhanced its profit margins to 54% and exceeded its financial targets.

Sigma Lithium (NASDAQ:SGML) was held by 20 hedge funds in Q2 and the stakes amounted to $89.1 million. Appian Way Asset Management is the top shareholder of the company and has a position worth $31.3 million as of Q2.