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

Shares of Piedmont Lithium Inc. (NASDAQ:PLLGet Rating) have earned an average recommendation of “Buy” from the six brokerages that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $96.00.

A number of brokerages recently commented on PLL. Cowen began coverage on Piedmont Lithium in a research report on Monday, May 23rd. They issued an “outperform” rating and a $90.00 target price for the company. Cowen began coverage on Piedmont Lithium in a research report on Monday, May 23rd. They issued an “outperform” rating for the company.

Insiders Place Their Bets

In related news, Director Jeffrey T. Armstrong acquired 2,500 shares of the firm’s stock in a transaction on Wednesday, June 29th. The stock was purchased at an average cost of $38.27 per share, with a total value of $95,675.00. Following the acquisition, the director now owns 33,969 shares of the company’s stock, valued at approximately $1,299,993.63. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Keith D. Phillips sold 3,944 shares of the company’s stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $50.07, for a total value of $197,476.08. Following the completion of the transaction, the chief executive officer now directly owns 101,544 shares of the company’s stock, valued at $5,084,308.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey T. Armstrong bought 2,500 shares of Piedmont Lithium stock in a transaction dated Wednesday, June 29th. The stock was acquired at an average cost of $38.27 per share, with a total value of $95,675.00. Following the completion of the acquisition, the director now owns 33,969 shares of the company’s stock, valued at $1,299,993.63. The disclosure for this purchase can be found here. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Piedmont Lithium

Several institutional investors have recently modified their holdings of PLL. National Bank of Canada FI lifted its stake in Piedmont Lithium by 108.7% in the first quarter. National Bank of Canada FI now owns 480 shares of the mineral exploration company’s stock valued at $35,000 after purchasing an additional 250 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in Piedmont Lithium in the first quarter valued at approximately $36,000. Citigroup Inc. lifted its stake in Piedmont Lithium by 112.3% in the first quarter. Citigroup Inc. now owns 620 shares of the mineral exploration company’s stock valued at $45,000 after purchasing an additional 328 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in Piedmont Lithium in the first quarter valued at approximately $49,000. Finally, Fifth Third Bancorp purchased a new position in Piedmont Lithium in the first quarter valued at approximately $50,000. 24.02% of the stock is owned by institutional investors.

Piedmont Lithium Price Performance

Shares of NASDAQ:PLL opened at $42.50 on Friday. The business’s 50-day moving average is $46.60 and its 200-day moving average is $55.23. Piedmont Lithium has a 1 year low of $32.08 and a 1 year high of $79.99.

Piedmont Lithium (NASDAQ:PLLGet Rating) last issued its earnings results on Friday, May 6th. The mineral exploration company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.17). Equities analysts anticipate that Piedmont Lithium will post -1.28 EPS for the current fiscal year.

Piedmont Lithium Company Profile

(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.

See Also

Analyst Recommendations for Piedmont Lithium (NASDAQ:PLL)

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