Piedmont Lithium (NASDAQ:PLL) Posts Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Piedmont Lithium (NASDAQ:PLL) released its earnings results on Thursday. The mineral exploration company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.12), Zacks reports. The firm had revenue of $45.59 million during the quarter, compared to the consensus estimate of $52.60 million.

Piedmont Lithium Stock Performance

PLL stock traded down $0.10 during mid-day trading on Friday, reaching $8.40. The company had a trading volume of 144,352 shares, compared to its average volume of 273,074. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $163.30 million, a P/E ratio of -2.05 and a beta of 0.78. Piedmont Lithium has a one year low of $6.57 and a one year high of $17.66. The stock’s 50-day simple moving average is $8.85 and its two-hundred day simple moving average is $9.90.

Insider Buying and Selling at Piedmont Lithium

In other Piedmont Lithium news, CEO Keith D. Phillips sold 41,867 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $12.31, for a total value of $515,382.77. Following the sale, the chief executive officer now directly owns 170,616 shares in the company, valued at approximately $2,100,282.96. This trade represents a 19.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.81% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on PLL. Roth Mkm cut Piedmont Lithium from a “buy” rating to a “neutral” rating and reduced their target price for the company from $32.00 to $13.00 in a research note on Wednesday, November 20th. Roth Capital cut Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Macquarie upgraded Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. Finally, BMO Capital Markets raised their price objective on Piedmont Lithium from $9.50 to $14.00 and gave the stock a “market perform” rating in a research note on Friday, November 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $21.42.

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.