Sigma Lithium downgraded to Neutral at BofA on increased risks

As previously reported, BofA analyst Rock Hoffman downgraded Sigma Lithium (SGML) to Neutral from Buy with a price target of $7, down from $10, telling investors that the Q2 report left the firm concerned as cash ran low and days payable outstanding were high. The firm’s downgrade balances project merits with near-term uncertainty as downtime could further strain cash balances and complicate financing discussions, the analyst tells investors.