Piedmont Lithium Inc. (NASDAQ:PLL) Receives $71.67 Consensus Target Price from Analysts

Shares of Piedmont Lithium Inc. (NASDAQ:PLLGet Free Report) have received a consensus rating of “Hold” from the six analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $71.67.

Several research firms recently commented on PLL. JPMorgan Chase & Co. cut their price target on Piedmont Lithium from $25.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, February 8th. BTIG Research cut Piedmont Lithium from a “buy” rating to a “neutral” rating in a research report on Friday, February 23rd. BMO Capital Markets started coverage on Piedmont Lithium in a report on Friday, February 16th. They set a “market perform” rating and a $20.00 price objective for the company. Finally, TD Cowen cut shares of Piedmont Lithium from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $55.00 to $20.00 in a research report on Monday, January 29th.

Read Our Latest Stock Analysis on PLL

Hedge Funds Weigh In On Piedmont Lithium

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its holdings in Piedmont Lithium by 1,522.7% in the 1st quarter. State Street Corp now owns 1,149,201 shares of the mineral exploration company’s stock valued at $83,880,000 after purchasing an additional 1,078,382 shares during the period. Norges Bank bought a new position in shares of Piedmont Lithium in the fourth quarter valued at approximately $7,148,000. Schonfeld Strategic Advisors LLC raised its stake in shares of Piedmont Lithium by 176.3% during the third quarter. Schonfeld Strategic Advisors LLC now owns 343,563 shares of the mineral exploration company’s stock worth $13,639,000 after acquiring an additional 219,206 shares in the last quarter. Renaissance Technologies LLC increased its position in Piedmont Lithium by 783.7% during the 2nd quarter. Renaissance Technologies LLC now owns 231,300 shares of the mineral exploration company’s stock valued at $8,422,000 after purchasing an additional 205,125 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Piedmont Lithium by 107.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 390,064 shares of the mineral exploration company’s stock worth $11,012,000 after purchasing an additional 201,881 shares in the last quarter. 48.76% of the stock is owned by institutional investors.

Piedmont Lithium Trading Down 5.6 %

Shares of PLL stock opened at $12.53 on Tuesday. The stock has a market capitalization of $242.59 million, a price-to-earnings ratio of -10.90 and a beta of 0.79. Piedmont Lithium has a twelve month low of $11.27 and a twelve month high of $65.72. The stock has a fifty day simple moving average of $16.22 and a two-hundred day simple moving average of $27.04.

Piedmont Lithium (NASDAQ:PLLGet Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The mineral exploration company reported ($1.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($1.61). The firm had revenue of ($7.31) million during the quarter, compared to analyst estimates of $32.76 million. Research analysts predict that Piedmont Lithium will post -0.2 EPS for the current fiscal year.

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.

Further Reading

Analyst Recommendations for Piedmont Lithium (NASDAQ:PLL)

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