Piedmont Lithium (NASDAQ:PLL) Price Target Increased to $9.00 by Analysts at BMO Capital Markets

Piedmont Lithium (NASDAQ:PLL) had its price objective boosted by BMO Capital Markets from $8.50 to $9.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a market perform rating on the mineral exploration company’s stock.

A number of other equities research analysts also recently issued reports on PLL. Roth Mkm restated a “buy” rating and issued a $40.00 target price (down from $61.00) on shares of Piedmont Lithium in a report on Friday, August 9th. Macquarie cut shares of Piedmont Lithium from a “neutral” rating to an “underperform” rating and set a $7.80 price objective for the company. in a research note on Wednesday, October 16th. B. Riley cut their target price on Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $8.00 target price (down previously from $9.00) on shares of Piedmont Lithium in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.54.

Piedmont Lithium Stock Down 2.5 %

Shares of NASDAQ PLL opened at $13.30 on Tuesday. The firm’s 50 day moving average price is $9.77 and its 200 day moving average price is $10.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.32 and a current ratio of 2.32. The firm has a market cap of $258.42 million, a P/E ratio of -6.52 and a beta of 0.81. Piedmont Lithium has a 1 year low of $6.57 and a 1 year high of $31.82.

Piedmont Lithium (NASDAQ:PLL) last announced its quarterly earnings data on Thursday, August 8th. The mineral exploration company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.53). The firm had revenue of $13.23 million during the quarter, compared to analyst estimates of $14.89 million. During the same period in the prior year, the company posted ($0.55) earnings per share. As a group, sell-side analysts anticipate that Piedmont Lithium will post -2.58 earnings per share for the current year.

Institutional Investors Weigh In On Piedmont Lithium

Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in Piedmont Lithium by 143.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,580 shares of the mineral exploration company’s stock worth $73,000 after acquiring an additional 1,521 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Piedmont Lithium during the first quarter valued at approximately $25,000. Point72 DIFC Ltd acquired a new position in shares of Piedmont Lithium during the second quarter worth $47,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Piedmont Lithium in the first quarter valued at $71,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Piedmont Lithium during the 2nd quarter valued at $58,000. Hedge funds and other institutional investors own 52.23% of the company’s stock.

Piedmont Lithium Company Profile

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.