Piedmont Lithium Inc. (NASDAQ:PLL) Receives Average Rating of “Buy” from Analysts

Shares of Piedmont Lithium Inc. (NASDAQ:PLLGet Rating) have earned an average recommendation of “Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $95.00.

Several equities research analysts have commented on PLL shares. Zacks Investment Research upgraded Piedmont Lithium from a “sell” rating to a “hold” rating in a research note on Saturday. B. Riley boosted their price objective on Piedmont Lithium from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, February 17th. Finally, JPMorgan Chase & Co. boosted their price objective on Piedmont Lithium from $84.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, March 24th.

Institutional investors have recently modified their holdings of the company. National Bank of Canada FI boosted its holdings in shares of Piedmont Lithium by 108.7% during the 1st quarter. National Bank of Canada FI now owns 480 shares of the mineral exploration company’s stock worth $35,000 after purchasing an additional 250 shares during the last quarter. NEXT Financial Group Inc acquired a new position in shares of Piedmont Lithium during the 4th quarter worth approximately $26,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Piedmont Lithium during the 3rd quarter worth approximately $32,000. Citigroup Inc. boosted its holdings in shares of Piedmont Lithium by 112.3% during the 1st quarter. Citigroup Inc. now owns 620 shares of the mineral exploration company’s stock worth $45,000 after purchasing an additional 328 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in Piedmont Lithium in the first quarter valued at approximately $50,000. Institutional investors and hedge funds own 24.02% of the company’s stock.

Shares of Piedmont Lithium stock opened at $52.30 on Friday. Piedmont Lithium has a twelve month low of $40.65 and a twelve month high of $79.99. The business has a 50-day moving average price of $67.92 and a 200 day moving average price of $59.24.

Piedmont Lithium (NASDAQ:PLLGet Rating) last announced its quarterly earnings results on Sunday, February 27th. The mineral exploration company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.21). Analysts forecast that Piedmont Lithium will post -1.6 earnings per share for the current fiscal year.

About Piedmont Lithium (Get Rating)

Piedmont Lithium Inc, an exploration 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 3,116 acres located within the Carolina Tin-Spodumene Belt situated to the west of Charlotte, North Carolina in the United States.

Featured Articles

Analyst Recommendations for Piedmont Lithium (NASDAQ:PLL)

Receive News & Ratings for Piedmont Lithium Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Piedmont Lithium and related companies with MarketBeat.com's FREE daily email newsletter.