Piedmont Lithium (NASDAQ:PLL) Price Target Raised to $9.00 at BMO Capital Markets

Piedmont Lithium (NASDAQ:PLL) had its price target upped by BMO Capital Markets from $8.50 to $9.00 in a research note issued to investors on Tuesday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the mineral exploration company’s stock.

PLL has been the topic of several other reports. Macquarie lowered Piedmont Lithium from a “neutral” rating to an “underperform” rating and set a $7.80 price target on the stock. in a research report on Wednesday, October 16th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $8.00 price target (down from $9.00) on shares of Piedmont Lithium in a research report on Monday, October 21st. Roth Mkm reiterated a “buy” rating and set a $40.00 target price (down from $61.00) on shares of Piedmont Lithium in a report on Friday, August 9th. Finally, B. Riley reduced their target price on Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.26.

Piedmont Lithium Stock Down 1.5 %

NASDAQ PLL opened at $13.10 on Tuesday. Piedmont Lithium has a 52 week low of $6.57 and a 52 week high of $31.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.32 and a current ratio of 2.32. The stock has a market capitalization of $254.53 million, a P/E ratio of -6.42 and a beta of 0.81. The stock has a fifty day moving average of $9.94 and a 200-day moving average of $10.95.

Piedmont Lithium (NASDAQ:PLL) last posted its quarterly earnings results on Thursday, August 8th. The mineral exploration company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.53). The firm had revenue of $13.23 million during the quarter, compared to analyst estimates of $14.89 million. During the same quarter in the prior year, the company earned ($0.55) EPS. On average, equities research analysts forecast that Piedmont Lithium will post -2.57 EPS for the current year.

Institutional Trading of Piedmont Lithium

A number of institutional investors have recently modified their holdings of PLL. HITE Hedge Asset Management LLC bought a new stake in shares of Piedmont Lithium in the second quarter valued at about $1,484,000. Raymond James & Associates bought a new stake in shares of Piedmont Lithium in the second quarter valued at about $1,472,000. Boston Partners lifted its holdings in shares of Piedmont Lithium by 154.5% in the first quarter. Boston Partners now owns 170,097 shares of the mineral exploration company’s stock valued at $2,266,000 after purchasing an additional 103,273 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Piedmont Lithium in the second quarter valued at about $874,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Piedmont Lithium in the second quarter valued at about $723,000. 52.23% of the stock is currently owned by institutional investors.

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.