Brokerages Set Piedmont Lithium Inc. (NASDAQ:PLL) PT at $23.47

by · The Markets Daily

Shares of Piedmont Lithium Inc. (NASDAQ:PLL – Get Free Report) have earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $23.54.

A number of equities analysts recently weighed in on PLL shares. Roth Mkm reaffirmed a “buy” rating and issued a $40.00 price target (down previously from $61.00) on shares of Piedmont Lithium in a report on Friday, August 9th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $8.00 price target (down from $9.00) on shares of Piedmont Lithium in a research report on Monday, October 21st. B. Riley decreased their price objective on Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Macquarie lowered shares of Piedmont Lithium from a “neutral” rating to an “underperform” rating and set a $7.80 target price for the company. in a report on Wednesday, October 16th. Finally, BMO Capital Markets upped their target price on shares of Piedmont Lithium from $8.50 to $9.00 and gave the stock a “market perform” rating in a report on Tuesday.

View Our Latest Analysis on PLL

Piedmont Lithium Stock Performance

NASDAQ PLL opened at $13.30 on Wednesday. The stock has a market capitalization of $258.42 million, a price-to-earnings ratio of -6.52 and a beta of 0.81. Piedmont Lithium has a twelve month low of $6.57 and a twelve month high of $31.82. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $9.77 and a 200 day moving average of $10.92.

Piedmont Lithium (NASDAQ:PLL – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The mineral exploration company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.53). The company had revenue of $13.23 million during the quarter, compared to the consensus estimate of $14.89 million. During the same period last year, the firm earned ($0.55) earnings per share. Sell-side analysts anticipate that Piedmont Lithium will post -2.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Piedmont Lithium

A number of hedge funds have recently modified their holdings of PLL. PNC Financial Services Group Inc. grew its holdings in shares of Piedmont Lithium by 143.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,580 shares of the mineral exploration company’s stock valued at $73,000 after purchasing an additional 1,521 shares during the period. GAMMA Investing LLC lifted its position in shares of Piedmont Lithium by 66.6% during the first quarter. GAMMA Investing LLC now owns 1,992 shares of the mineral exploration company’s stock worth $27,000 after purchasing an additional 796 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Piedmont Lithium during the first quarter worth about $25,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Piedmont Lithium during the first quarter worth about $71,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Piedmont Lithium by 49.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,054 shares of the mineral exploration company’s stock worth $254,000 after purchasing an additional 6,328 shares in the last quarter. Hedge funds and other institutional investors own 52.23% of the company’s stock.

About Piedmont Lithium

(Get Free Report

Piedmont Lithium Inc, a development stage company, engages in the exploration and development of resource projects in the United States. The company primarily holds a 100% interest in the Carolina Lithium Project that include an area of approximately 3,706 acres located within the Carolina Tin-Spodumene Belt situated to the northwest of Charlotte, North Carolina in the United States.

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