Piedmont Lithium (NASDAQ:PLL) Price Target Raised to $14.00

Piedmont Lithium (NASDAQ:PLL - Free Report) had its price target raised by BMO Capital Markets from $9.50 to $14.00 in a research note released on Friday,Benzinga reports. They currently have a market perform rating on the mineral exploration company's stock.

A number of other equities analysts have also commented on the company. B. Riley cut their price objective on Piedmont Lithium from $26.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, August 12th. Roth Mkm downgraded shares of Piedmont Lithium from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $32.00 to $13.00 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $8.00 price objective (down from $9.00) on shares of Piedmont Lithium in a research report on Monday, October 21st. Roth Capital cut shares of Piedmont Lithium from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Finally, Macquarie raised Piedmont Lithium from an "underperform" rating to a "neutral" rating and set a $13.50 price objective for the company in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Piedmont Lithium presently has a consensus rating of "Hold" and a consensus price target of $21.21.

Piedmont Lithium Trading Up 1.7 %

Shares of Piedmont Lithium stock traded up $0.21 on Friday, hitting $12.56. The stock had a trading volume of 244,869 shares, compared to its average volume of 714,674. The stock has a 50 day moving average of $11.94 and a 200 day moving average of $10.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 1.99. Piedmont Lithium has a twelve month low of $6.57 and a twelve month high of $31.82. The firm has a market capitalization of $244.17 million, a P/E ratio of -3.07 and a beta of 0.74.

Hedge Funds Weigh In On Piedmont Lithium

A number of institutional investors have recently modified their holdings of the company. National Bank of Canada FI boosted its stake in Piedmont Lithium by 2,095.4% during the 3rd quarter. National Bank of Canada FI now owns 2,854 shares of the mineral exploration company's stock valued at $25,000 after purchasing an additional 2,724 shares during the last quarter. FMR LLC lifted its holdings in shares of Piedmont Lithium by 38.7% in the third quarter. FMR LLC now owns 3,353 shares of the mineral exploration company's stock valued at $30,000 after purchasing an additional 936 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Piedmont Lithium during the second quarter valued at approximately $47,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Piedmont Lithium during the second quarter worth $58,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Piedmont Lithium in the 1st quarter valued at $71,000. 52.23% of the stock is owned by institutional investors and hedge funds.

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.