Piedmont Lithium (NASDAQ:PLL) Issues Earnings Results

Piedmont Lithium (NASDAQ:PLL) released its earnings results on Thursday. The mineral exploration company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.12), Zacks reports. The business had revenue of $45.59 million for the quarter, compared to the consensus estimate of $52.60 million.

Piedmont Lithium Stock Down 1.2 %

NASDAQ:PLL traded down $0.10 during trading hours on Friday, hitting $8.40. The stock had a trading volume of 144,352 shares, compared to its average volume of 273,074. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. Piedmont Lithium has a 1-year low of $6.57 and a 1-year high of $17.66. The business has a 50 day simple moving average of $8.85 and a two-hundred day simple moving average of $9.90. The company has a market cap of $163.30 million, a PE ratio of -2.05 and a beta of 0.78.

Insider Buying and Selling at Piedmont Lithium

In other news, CEO Keith D. Phillips sold 41,867 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $12.31, for a total transaction of $515,382.77. Following the completion of the transaction, the chief executive officer now directly owns 170,616 shares in the company, valued at approximately $2,100,282.96. This represents a 19.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.81% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PLL has been the topic of several recent analyst reports. Macquarie upgraded shares of Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Roth Mkm lowered shares of Piedmont Lithium from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $32.00 to $13.00 in a report on Wednesday, November 20th. BMO Capital Markets increased their price objective on shares of Piedmont Lithium from $9.50 to $14.00 and gave the stock a “market perform” rating in a report on Friday, November 29th. Finally, Roth Capital lowered shares of Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Piedmont Lithium currently has an average rating of “Hold” and an average target price of $21.42.

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.