B. Riley Research Analysts Lower Earnings Estimates for PLL

Piedmont Lithium Inc. (NASDAQ:PLL - Free Report) - Investment analysts at B. Riley decreased their FY2024 earnings per share (EPS) estimates for Piedmont Lithium in a research report issued on Wednesday, November 13th. B. Riley analyst M. Key now anticipates that the mineral exploration company will post earnings per share of ($3.33) for the year, down from their prior forecast of ($2.59). B. Riley currently has a "Buy" rating and a $20.00 price target on the stock. The consensus estimate for Piedmont Lithium's current full-year earnings is ($3.08) per share. B. Riley also issued estimates for Piedmont Lithium's Q4 2024 earnings at ($0.56) EPS, FY2025 earnings at ($1.16) EPS and FY2026 earnings at $0.19 EPS.

Several other equities research analysts also recently commented on PLL. Roth Mkm reiterated a "buy" rating and set a $31.00 target price (down from $40.00) on shares of Piedmont Lithium in a report on Wednesday, October 30th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $8.00 target price (down previously from $9.00) on shares of Piedmont Lithium in a research report on Monday, October 21st. Macquarie lowered Piedmont Lithium from a "neutral" rating to an "underperform" rating and set a $7.80 target price for the company. in a research report on Wednesday, October 16th. Finally, BMO Capital Markets boosted their price objective on Piedmont Lithium from $8.50 to $9.00 and gave the company a "market perform" rating in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $22.26.

Piedmont Lithium Trading Up 10.1 %

Shares of Piedmont Lithium stock traded up $1.18 during trading hours on Monday, reaching $12.86. The stock had a trading volume of 667,546 shares, compared to its average volume of 709,894. The firm has a market capitalization of $250.00 million, a price-to-earnings ratio of -3.11 and a beta of 0.74. The company has a current ratio of 1.99, a quick ratio of 2.32 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 $31.82. The firm has a 50 day simple moving average of $10.93 and a two-hundred day simple moving average of $10.95.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC acquired a new position in shares of Piedmont Lithium during the 1st quarter worth about $25,000. National Bank of Canada FI lifted its position in shares of 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 worth $25,000 after purchasing an additional 2,724 shares during the last quarter. FMR LLC lifted its position in shares of Piedmont Lithium by 38.7% during the 3rd quarter. FMR LLC now owns 3,353 shares of the mineral exploration company's stock worth $30,000 after purchasing an additional 936 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Piedmont Lithium during the 2nd quarter worth about $47,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Piedmont Lithium during the 2nd quarter worth about $58,000. Hedge funds and other institutional investors own 52.23% of the company's stock.

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.