Piedmont Lithium (NASDAQ:PLL) Announces Quarterly Earnings Results

Piedmont Lithium (NASDAQ:PLL) issued its quarterly earnings results on Tuesday. The mineral exploration company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.40), reports. The firm had revenue of $27.66 million for the quarter, compared to analysts’ expectations of $32.91 million.

Piedmont Lithium Trading Up 3.1 %

PLL opened at $13.35 on Thursday. The firm has a market capitalization of $259.39 million, a price-to-earnings ratio of -3.26 and a beta of 0.74. Piedmont Lithium has a one year low of $6.57 and a one year high of $31.82. The business has a 50 day simple moving average of $10.74 and a two-hundred day simple moving average of $10.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.99 and a quick ratio of 2.32.

Institutional Trading of Piedmont Lithium

Several large investors have recently added to or reduced their stakes in PLL. FMR LLC boosted its position in Piedmont Lithium by 38.7% during the 3rd quarter. FMR LLC now owns 3,353 shares of the mineral exploration company’s stock valued at $30,000 after acquiring an additional 936 shares in the last quarter. Larson Financial Group LLC grew its stake in Piedmont Lithium by 53.0% in the third quarter. Larson Financial Group LLC now owns 24,943 shares of the mineral exploration company’s stock worth $223,000 after purchasing an additional 8,643 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Piedmont Lithium by 15.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 154,881 shares of the mineral exploration company’s stock worth $1,383,000 after purchasing an additional 20,481 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of Piedmont Lithium by 708.5% during the 3rd quarter. Quest Partners LLC now owns 31,032 shares of the mineral exploration company’s stock valued at $277,000 after buying an additional 27,194 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of Piedmont Lithium in the 2nd quarter worth about $47,000. Institutional investors own 52.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Macquarie lowered 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. BMO Capital Markets raised their price objective on Piedmont Lithium from $8.50 to $9.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Roth Mkm reissued a “buy” rating and issued a $31.00 target price (down previously from $40.00) on shares of Piedmont Lithium in a research note on Wednesday, October 30th. JPMorgan Chase & Co. restated an “underweight” rating and set a $8.00 price target (down from $9.00) on shares of Piedmont Lithium in a research report on Monday, October 21st. Finally, B. Riley lowered their price objective on Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Piedmont Lithium has an average rating of “Hold” and an average price target of $22.26.

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.