Piedmont Lithium (NASDAQ:PLL – Get Free Report) had its price target cut by investment analysts at JPMorgan Chase & Co. from $25.00 to $15.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the mineral exploration company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 2.46% from the stock’s previous close.
Separately, TD Cowen downgraded shares of Piedmont Lithium from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $55.00 to $20.00 in a research note on Monday, January 29th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Piedmont Lithium currently has a consensus rating of “Moderate Buy” and an average target price of $91.67.
Piedmont Lithium Price Performance
Piedmont Lithium (NASDAQ:PLL – Get Free Report) last posted its quarterly earnings results on Tuesday, November 7th. The mineral exploration company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.63). The company had revenue of $47.13 million for the quarter, compared to analyst estimates of $56.50 million. On average, research analysts anticipate that Piedmont Lithium will post 0.7 earnings per share for the current year.
Institutional Investors Weigh In On Piedmont Lithium
Large investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. bought a new stake in Piedmont Lithium in the first quarter valued at approximately $36,000. Tucker Asset Management LLC bought a new stake in Piedmont Lithium in the second quarter valued at approximately $29,000. Citigroup Inc. increased its stake in Piedmont Lithium by 112.3% in the first quarter. Citigroup Inc. now owns 620 shares of the mineral exploration company’s stock valued at $45,000 after purchasing an additional 328 shares in the last quarter. Money Concepts Capital Corp bought a new stake in Piedmont Lithium in the fourth quarter valued at approximately $37,000. Finally, Point72 Middle East FZE bought a new stake in Piedmont Lithium in the fourth quarter valued at approximately $38,000. Institutional investors own 48.76% 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 3,245 acres located within the Carolina Tin-Spodumene Belt situated to the northwest of Charlotte, North Carolina in the United States.
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