Piedmont Lithium Inc. (NASDAQ:PLL) Receives $20.63 Consensus PT from Brokerages

Shares of Piedmont Lithium Inc. (NASDAQ:PLL) have been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $20.63.

PLL has been the topic of several recent analyst reports. Macquarie raised Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. BMO Capital Markets raised their target price on Piedmont Lithium from $9.50 to $14.00 and gave the stock a “market perform” rating in a research report on Friday, November 29th. Finally, Roth Mkm lowered their price target on shares of Piedmont Lithium from $13.00 to $8.25 and set a “neutral” rating on the stock in a report on Friday, February 21st.

Piedmont Lithium Stock Up 0.9 %

PLL stock opened at $6.65 on Friday. The company has a current ratio of 2.23, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. The firm has a market cap of $145.93 million, a PE ratio of -2.00 and a beta of 0.76. Piedmont Lithium has a 1 year low of $6.26 and a 1 year high of $17.66. The company has a fifty day simple moving average of $7.78 and a 200 day simple moving average of $9.72.

Piedmont Lithium (NASDAQ:PLL) last posted its earnings results on Thursday, February 20th. The mineral exploration company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.12). The firm had revenue of $45.59 million during the quarter, compared to analyst estimates of $52.60 million. Piedmont Lithium had a negative net margin of 64.84% and a negative return on equity of 17.74%. Sell-side analysts anticipate that Piedmont Lithium will post -0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI grew 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 worth $25,000 after purchasing an additional 2,724 shares during the last quarter. FMR LLC boosted its position 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 in the last quarter. BNP Paribas Financial Markets bought a new stake in Piedmont Lithium during the fourth quarter worth about $33,000. GAMMA Investing LLC increased its holdings in shares of Piedmont Lithium by 65.8% during the fourth quarter. GAMMA Investing LLC now owns 3,907 shares of the mineral exploration company’s stock worth $34,000 after buying an additional 1,550 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Piedmont Lithium in the fourth quarter valued at approximately $41,000. 52.23% of the stock is currently owned by institutional investors and hedge funds.

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.