Piedmont Lithium Inc. (NASDAQ:PLL) Given Average Recommendation of “Hold” by Analysts

Piedmont Lithium Inc. (NASDAQ:PLL) has been assigned an average recommendation of “Hold” from the seven research firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $67.00.

PLL has been the topic of several recent research reports. BMO Capital Markets raised their price objective on shares of Piedmont Lithium from $20.00 to $28.00 and gave the company a “market perform” rating in a research report on Friday, May 10th. DA Davidson restated a “buy” rating and set a $60.00 price target on shares of Piedmont Lithium in a report on Tuesday, April 16th.

Piedmont Lithium Trading Up 0.5 %

Shares of NASDAQ:PLL opened at $11.48 on Monday. The firm has a market cap of $222.36 million, a price-to-earnings ratio of -6.04 and a beta of 0.84. Piedmont Lithium has a 1 year low of $8.94 and a 1 year high of $60.09. The business has a fifty day simple moving average of $12.14 and a 200 day simple moving average of $13.86.

Piedmont Lithium (NASDAQ:PLL) last issued its earnings results on Thursday, May 9th. The mineral exploration company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.07). The business had revenue of $13.40 million during the quarter, compared to the consensus estimate of $13.77 million. On average, sell-side analysts forecast that Piedmont Lithium will post -0.31 EPS for the current year.

Institutional Trading of Piedmont Lithium

Several large investors have recently modified their holdings of PLL. Mirae Asset Global Investments Co. Ltd. boosted its stake in Piedmont Lithium by 107.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 390,064 shares of the mineral exploration company’s stock valued at $11,012,000 after purchasing an additional 201,881 shares during the period. Norges Bank acquired a new position in shares of Piedmont Lithium during the fourth quarter worth approximately $7,148,000. Scarborough Advisors LLC bought a new stake in shares of Piedmont Lithium in the fourth quarter valued at approximately $98,000. Principal Financial Group Inc. grew its stake in shares of Piedmont Lithium by 0.3% in the fourth quarter. Principal Financial Group Inc. now owns 361,625 shares of the mineral exploration company’s stock worth $10,209,000 after acquiring an additional 1,232 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Piedmont Lithium by 83.5% during the fourth quarter. SG Americas Securities LLC now owns 23,542 shares of the mineral exploration company’s stock worth $665,000 after acquiring an additional 10,713 shares during the period. 52.23% of the stock is owned by institutional investors.

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.