) has announced its first-quarter earnings for 2024, showcasing a series of significant achievements and strategic advancements. The company reported an 11% increase in lithium pricing, reaching $1,290 per ton, and has positioned itself as the world's second-lowest cost lithium concentrate producer with costs at $397 per ton.
With a strong cash position of $108 million, the company initiated the construction of its second green plant and reported a 25% increase in realized prices, capturing 9% of the value of lithium hydroxide on the London Metals Exchange. Sigma sold 52,857 tons of lithium concentrate, generating $37.2 million in revenue, and reported an adjusted EBITDA of $6 million, delivering a margin of nearly 16%.
InvestingPro Tips indicate that analysts are optimistic about Sigma Lithium's future, expecting net income and sales growth in the current year. This aligns with the company's reported increase in lithium pricing and the expansion of its mineral reserves. The anticipation of growth is further supported by Sigma Lithium's impressive gross profit margins, which stood at 43.42% for the last twelve months as of Q1 2024.
For those interested in a deeper dive into Sigma Lithium's potential and to access more InvestingPro Tips, visiting https://www.investing.com/pro/SGML offers a wealth of information. Currently, there are 19 additional tips available on InvestingPro, providing comprehensive insights into the company's financial health and market performance. To enhance your investing strategy, use coupon codeData also highlights the company's significant EBITDA growth of 116.
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