What is B. Riley’s Forecast for PLL FY2024 Earnings?

Piedmont Lithium Inc. (NASDAQ:PLL) – Stock analysts at B. Riley dropped their FY2024 earnings estimates for shares of Piedmont Lithium in a note issued to investors on Wednesday, November 13th. B. Riley analyst M. Key now anticipates that the mineral exploration company will post earnings per share of ($3.33) for the year, down from their previous forecast of ($2.59). B. Riley has a “Buy” rating and a $20.00 price target on the stock. The consensus estimate for Piedmont Lithium’s current full-year earnings is ($3.08) per share. B. Riley also issued estimates for Piedmont Lithium’s Q4 2024 earnings at ($0.56) EPS, FY2025 earnings at ($1.16) EPS and FY2026 earnings at $0.19 EPS.

Several other analysts also recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Piedmont Lithium from $8.50 to $9.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Roth Mkm reaffirmed a “buy” rating and issued a $31.00 target price (down previously from $40.00) on shares of Piedmont Lithium in a report on Wednesday, October 30th. JPMorgan Chase & Co. reaffirmed 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. Finally, Macquarie downgraded shares of Piedmont Lithium from a “neutral” rating to an “underperform” rating and set a $7.80 target price on the stock. in a report on Wednesday, October 16th. Two investment 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 company presently has an average rating of “Hold” and an average target price of $22.26.

Piedmont Lithium Trading Down 2.3 %

Shares of Piedmont Lithium stock opened at $11.68 on Monday. Piedmont Lithium has a 1 year low of $6.57 and a 1 year high of $31.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.32 and a current ratio of 1.99. The company has a market capitalization of $227.06 million, a P/E ratio of -2.86 and a beta of 0.74. The company’s fifty day moving average is $10.93 and its two-hundred day moving average is $10.95.

Hedge Funds Weigh In On Piedmont Lithium

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC raised its position in Piedmont Lithium by 38.7% during the third quarter. FMR LLC now owns 3,353 shares of the mineral exploration company’s stock worth $30,000 after acquiring an additional 936 shares during the last quarter. Headlands Technologies LLC acquired a new position in Piedmont Lithium during the first quarter worth about $25,000. National Bank of Canada FI raised its position in shares of Piedmont Lithium by 2,095.4% in the third quarter. National Bank of Canada FI now owns 2,854 shares of the mineral exploration company’s stock valued at $25,000 after buying an additional 2,724 shares during the last quarter. HITE Hedge Asset Management LLC raised its position in shares of Piedmont Lithium by 2.9% in the third quarter. HITE Hedge Asset Management LLC now owns 153,007 shares of the mineral exploration company’s stock valued at $1,366,000 after buying an additional 4,345 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of Piedmont Lithium in the second quarter valued at approximately $47,000. Institutional investors and hedge funds 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.