Piedmont Lithium (NASDAQ:PLL) PT Raised to $28.00

Piedmont Lithium (NASDAQ:PLL - Get Free Report) had its target price lifted by stock analysts at BMO Capital Markets from $20.00 to $28.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a "market perform" rating on the mineral exploration company's stock. BMO Capital Markets' target price points to a potential upside of 111.96% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. BTIG Research cut Piedmont Lithium from a "buy" rating to a "neutral" rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. reduced their price objective on Piedmont Lithium from $25.00 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, February 8th. DA Davidson reissued a "buy" rating and issued a $60.00 price objective on shares of Piedmont Lithium in a research note on Tuesday, April 16th. Finally, TD Cowen cut Piedmont Lithium from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $55.00 to $20.00 in a research note on Monday, January 29th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $67.00.

Piedmont Lithium Trading Down 1.4 %

NASDAQ PLL traded down $0.19 during trading hours on Friday, hitting $13.21. 483,823 shares of the company's stock were exchanged, compared to its average volume of 1,100,116. The stock has a 50-day simple moving average of $12.95 and a 200 day simple moving average of $19.48. Piedmont Lithium has a 1-year low of $10.82 and a 1-year high of $65.72. The firm has a market cap of $255.75 million, a price-to-earnings ratio of -11.49 and a beta of 0.77.

Piedmont Lithium (NASDAQ:PLL - Get Free Report) last released 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 company had revenue of ($7.31) million during the quarter, compared to analyst estimates of $32.76 million. On average, sell-side analysts anticipate that Piedmont Lithium will post -0.43 earnings per share for the current fiscal year.

Institutional Trading of Piedmont Lithium

Several institutional investors and hedge funds have recently made changes to their positions in the company. ICA Group Wealth Management LLC bought a new stake in Piedmont Lithium during the fourth quarter worth $28,000. GAMMA Investing LLC bought a new stake in Piedmont Lithium during the fourth quarter worth $34,000. Headlands Technologies LLC bought a new stake in Piedmont Lithium during the first quarter worth $25,000. FNY Investment Advisers LLC bought a new stake in Piedmont Lithium during the fourth quarter worth $62,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Piedmont Lithium by 143.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,580 shares of the mineral exploration company's stock worth $73,000 after acquiring an additional 1,521 shares during the period. Hedge funds and other institutional investors own 52.23% of the company's stock.

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.