Piedmont Lithium (NASDAQ:PLL) Issues Earnings Results

Piedmont Lithium (NASDAQ:PLL) issued its earnings results on Thursday. The mineral exploration company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.12), Zacks reports.

Piedmont Lithium Trading Up 3.0 %

NASDAQ PLL traded up $0.25 on Thursday, hitting $8.45. The company’s stock had a trading volume of 240,827 shares, compared to its average volume of 270,873. Piedmont Lithium has a 52-week low of $6.57 and a 52-week high of $17.66. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. The company’s 50-day simple moving average is $8.91 and its 200 day simple moving average is $9.91. The firm has a market cap of $164.23 million, a P/E ratio of -2.08 and a beta of 0.78.

Insiders Place Their Bets

In other news, CEO Keith D. Phillips sold 41,867 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $12.31, for a total value of $515,382.77. Following the completion of the transaction, the chief executive officer now owns 170,616 shares in the company, valued at $2,100,282.96. This trade represents a 19.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PLL. Roth Mkm downgraded Piedmont Lithium from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $32.00 to $13.00 in a report on Wednesday, November 20th. BMO Capital Markets boosted their price objective on Piedmont Lithium from $9.50 to $14.00 and gave the stock a “market perform” rating in a research report on Friday, November 29th. Roth Capital cut 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 a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $21.42.

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.