Piedmont Lithium (NASDAQ:PLL - Get Free Report) released its quarterly earnings results on Thursday. The mineral exploration company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.12), Zacks reports. The company had revenue of $45.59 million during the quarter, compared to the consensus estimate of $52.60 million.
Piedmont Lithium Stock Down 4.1 %
Shares of PLL traded down $0.35 during midday trading on Friday, reaching $8.15. 318,138 shares of the stock were exchanged, compared to its average volume of 278,283. The company has a market capitalization of $158.42 million, a P/E ratio of -1.99 and a beta of 0.78. 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 52 week low of $6.57 and a 52 week high of $17.66. The company's 50 day moving average is $8.80 and its two-hundred day moving average is $9.90.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on PLL shares. Roth Mkm cut their price objective on shares of Piedmont Lithium from $13.00 to $8.25 and set a "neutral" rating on the stock in a research report on Friday. Roth Capital downgraded shares of Piedmont Lithium from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 20th. Macquarie raised shares of Piedmont Lithium from a "hold" rating to a "strong-buy" rating in a research report on Friday, December 6th. Finally, BMO Capital Markets boosted their target price on Piedmont Lithium from $9.50 to $14.00 and gave the company a "market perform" rating in a research report on Friday, November 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Piedmont Lithium has a consensus rating of "Hold" and a consensus target price of $20.63.
View Our Latest Stock Analysis on PLL
Insider Activity at Piedmont Lithium
In related news, CEO Keith D. Phillips sold 41,867 shares of Piedmont Lithium stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $12.31, for a total transaction of $515,382.77. Following the transaction, the chief executive officer now directly owns 170,616 shares of the company's stock, valued at $2,100,282.96. This trade represents a 19.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.81% of the stock is currently owned by corporate insiders.
About Piedmont Lithium
(
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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.
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