12 Most Promising EV Battery Stocks According to Wall Street Analysts

3. Sigma Lithium Corporation (NASDAQ:SGML)

Analysts’ Upside Potential as of April 29: 120.86%

Sigma Lithium Corporation (NASDAQ:SGML) is a commercial manufacturer of lithium concentrate used in electric vehicles, together with its direct and indirect subsidiaries. The firm owns 100% of four mineral properties: Grota do Cirilo, São José, Santa Clara, and Genipapo, all of which are located in the municipalities of Aracuai and Itinga in the Vale do Jequitinhonha region of Minas Gerais, Brazil.

In the fourth quarter, Sigma Lithium Corporation (NASDAQ:SGML)’s Quintuple Zero Green Lithium output grew by 28% to over 77,000 tons, its highest quarterly production to date, setting a new record. In terms of finances, the business showed a solid 26% adjusted EBITDA margin and a 42% cash and operating margin. Operational excellence showed up in safety performance, ranking among the best performers in the ICMM rankings with a TRFIR of 2.35 and more than 600 days without a lost-time injury. The reduction of short-term loan expenses to $19 per ton and all-in sustaining costs to $592 per ton resulted in a considerable improvement in cost efficiency. The year concluded with a strong cash position of $46 million.

According to a recent report by Sigma Lithium Corporation (NASDAQ:SGML), the company is still on course to increase its production capacity by 2025. The second Greentech industrial plant’s foundation earthworks have been finished on schedule and within budget by the firm, and commissioning is anticipated to start in Q4 2025. Furthermore, the firm highlighted its cost-effective strategy. To address the rising demand for lithium, the company is taking advantage of its status as one of the lowest-cost lithium producers in the world. By the end of the decade, it anticipates substantial growth in the lithium market, making it one of the Most Promising Stocks with an upside potential of 120.86%.