BMO Capital analyst Joel Jackson lowered the firm’s price target on Sigma Lithium to $40 from $44 and keeps an Outperform rating on the shares. The analyst updated the company’s model post the Q3 report to reflect lower spodumene price realizations through the end of 2024. The firm believes Q4 all-in and run-rate costs could be 30% lower going forward after assuming some startup costs in Q3 don’t repeat, and it continues to assume no more meaningful tailings sales, so no more tailings road freight costs.
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