BMO Capital Markets Forecasts Strong Price Appreciation for Piedmont Lithium (NASDAQ:PLL) Stock

Piedmont Lithium (NASDAQ:PLL) had its price objective increased by BMO Capital Markets from $9.50 to $14.00 in a research report sent to investors on Friday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the mineral exploration company’s stock.

A number of other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $8.00 price objective (down previously from $9.00) on shares of Piedmont Lithium in a research report on Monday, October 21st. B. Riley dropped their price objective on Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Macquarie raised Piedmont Lithium from an “underperform” rating to a “neutral” rating and set a $13.50 target price on the stock in a research note on Thursday, November 21st. Roth Mkm cut Piedmont Lithium from a “buy” rating to a “neutral” rating and lowered their target price for the company from $32.00 to $13.00 in a report on Wednesday, November 20th. Finally, Roth Capital downgraded shares of Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.21.

Piedmont Lithium Trading Up 1.7 %

PLL opened at $12.56 on Friday. Piedmont Lithium has a one year low of $6.57 and a one year high of $31.82. The business’s 50 day moving average price is $11.94 and its 200 day moving average price is $10.87. The stock has a market capitalization of $244.14 million, a PE ratio of -3.07 and a beta of 0.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 1.99.

Hedge Funds Weigh In On Piedmont Lithium

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI lifted its holdings in shares of Piedmont Lithium by 2,095.4% in the 3rd quarter. National Bank of Canada FI now owns 2,854 shares of the mineral exploration company’s stock valued at $25,000 after purchasing an additional 2,724 shares during the last quarter. FMR LLC lifted its stake in Piedmont Lithium by 38.7% in the third quarter. FMR LLC now owns 3,353 shares of the mineral exploration company’s stock valued at $30,000 after buying an additional 936 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Piedmont Lithium in the second quarter valued at approximately $47,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Piedmont Lithium during the first quarter worth approximately $71,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Piedmont Lithium in the 2nd quarter valued at $58,000. 52.23% of the stock is owned by institutional investors and hedge funds.

About Piedmont Lithium

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.