Invesco Ltd. Sells 474,550 Shares of Piedmont Lithium Inc. – Sponsored ADR $PLL

Invesco Ltd. lowered its holdings in Piedmont Lithium Inc. – Sponsored ADR (NASDAQ:PLL) by 90.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,404 shares of the mineral exploration company’s stock after selling 474,550 shares during the quarter. Invesco Ltd. owned 0.23% of Piedmont Lithium worth $318,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in Piedmont Lithium in the fourth quarter valued at about $33,000. Cubist Systematic Strategies LLC bought a new stake in Piedmont Lithium in the fourth quarter valued at about $41,000. Deutsche Bank AG increased its stake in Piedmont Lithium by 31.9% in the fourth quarter. Deutsche Bank AG now owns 9,707 shares of the mineral exploration company’s stock valued at $85,000 after acquiring an additional 2,348 shares during the period. Raymond James Financial Inc. bought a new stake in Piedmont Lithium in the fourth quarter valued at about $98,000. Finally, GAMMA Investing LLC increased its stake in Piedmont Lithium by 324.9% in the first quarter. GAMMA Investing LLC now owns 16,601 shares of the mineral exploration company’s stock valued at $105,000 after acquiring an additional 12,694 shares during the period. Institutional investors own 52.23% of the company’s stock.

Piedmont Lithium Stock Performance

NASDAQ PLL opened at $7.33 on Friday. The stock has a market cap of $160.78 million, a P/E ratio of -2.86 and a beta of 0.32. The company’s 50-day simple moving average is $7.91 and its 200 day simple moving average is $7.12. Piedmont Lithium Inc. – Sponsored ADR has a twelve month low of $5.15 and a twelve month high of $15.44. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.01.

Piedmont Lithium (NASDAQ:PLL) last released its quarterly earnings results on Thursday, August 7th. The mineral exploration company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.08). The firm had revenue of $11.86 million during the quarter, compared to analyst estimates of $16.03 million. Piedmont Lithium had a negative net margin of 50.60% and a negative return on equity of 18.57%. As a group, research analysts forecast that Piedmont Lithium Inc. – Sponsored ADR will post -0.91 earnings per share for the current fiscal year.

Piedmont Lithium Company Profile

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.