Piedmont Lithium Inc. (NASDAQ:PLL - Free Report) - Equities researchers at Roth Capital cut their Q1 2024 EPS estimates for Piedmont Lithium in a research note issued to investors on Wednesday, April 10th. Roth Capital analyst J. Reagor now anticipates that the mineral exploration company will post earnings of ($0.31) per share for the quarter, down from their prior forecast of ($0.10). The consensus estimate for Piedmont Lithium's current full-year earnings is ($0.20) per share. Roth Capital also issued estimates for Piedmont Lithium's Q2 2024 earnings at ($0.06) EPS, Q3 2024 earnings at $0.12 EPS, Q4 2024 earnings at $0.37 EPS, FY2024 earnings at $0.13 EPS and FY2025 earnings at $2.02 EPS.
A number of other research firms have also recently issued reports on PLL. BTIG Research cut Piedmont Lithium from a "buy" rating to a "neutral" rating in a report on Friday, February 23rd. TD Cowen cut Piedmont Lithium from an "outperform" rating to a "market perform" rating and cut their price target for the company from $55.00 to $20.00 in a report on Monday, January 29th. 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. Finally, BMO Capital Markets initiated 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. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Piedmont Lithium presently has an average rating of "Hold" and an average target price of $71.67.
Check Out Our Latest Analysis on Piedmont Lithium
Piedmont Lithium Stock Performance
Shares of NASDAQ:PLL traded down $0.66 on Friday, hitting $12.68. The stock had a trading volume of 355,045 shares, compared to its average volume of 655,378. Piedmont Lithium has a twelve month low of $11.27 and a twelve month high of $65.72. The firm's 50 day moving average price is $13.42 and its 200-day moving average price is $22.59. The company has a market capitalization of $245.50 million, a price-to-earnings ratio of -11.03 and a beta of 0.77.
Piedmont Lithium (NASDAQ:PLL - Get Free Report) last issued its earnings results on Thursday, February 22nd. The mineral exploration company reported ($1.23) EPS for the quarter, missing the consensus estimate of $0.38 by ($1.61). The firm had revenue of ($7.31) million for the quarter, compared to the consensus estimate of $32.76 million.
Hedge Funds Weigh In On Piedmont Lithium
A number of large investors have recently bought and sold shares of the company. Invesco Ltd. raised its stake in Piedmont Lithium by 11.3% in the 3rd quarter. Invesco Ltd. now owns 570,392 shares of the mineral exploration company's stock valued at $22,645,000 after acquiring an additional 58,012 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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 worth $11,012,000 after purchasing an additional 201,881 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Piedmont Lithium by 83.5% during the 4th quarter. SG Americas Securities LLC now owns 23,542 shares of the mineral exploration company's stock worth $665,000 after purchasing an additional 10,713 shares in the last quarter. Boston Partners grew its holdings in shares of Piedmont Lithium by 251.4% during the 3rd quarter. Boston Partners now owns 71,453 shares of the mineral exploration company's stock worth $2,837,000 after purchasing an additional 51,118 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Piedmont Lithium by 8.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,877 shares of the mineral exploration company's stock worth $5,434,000 after purchasing an additional 10,243 shares in the last quarter. Institutional investors and hedge funds own 52.23% of the company's stock.
Piedmont Lithium Company Profile
(
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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.
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