Roth Capital Has Negative Outlook for PLL FY2024 Earnings

Piedmont Lithium Inc. (NASDAQ:PLL) – Investment analysts at Roth Capital cut their FY2024 EPS estimates for shares of Piedmont Lithium in a research report issued on Tuesday, November 12th. Roth Capital analyst J. Reagor now anticipates that the mineral exploration company will earn ($3.02) per share for the year, down from their prior estimate of ($2.40). The consensus estimate for Piedmont Lithium’s current full-year earnings is ($2.66) per share. Roth Capital also issued estimates for Piedmont Lithium’s Q4 2024 earnings at ($0.25) EPS, Q1 2025 earnings at $0.11 EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at $0.03 EPS and FY2025 earnings at $0.16 EPS.

Several other brokerages also recently commented on PLL. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $8.00 price target (down from $9.00) on shares of Piedmont Lithium in a report on Monday, October 21st. BMO Capital Markets boosted their target price on Piedmont Lithium from $8.50 to $9.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Roth Mkm restated a “buy” rating and issued a $31.00 target price (down from $40.00) on shares of Piedmont Lithium in a research note on Wednesday, October 30th. Macquarie downgraded Piedmont Lithium from a “neutral” rating to an “underperform” rating and set a $7.80 price target for the company. in a research report on Wednesday, October 16th. Finally, B. Riley decreased their price objective on shares of Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.26.

Piedmont Lithium Stock Down 2.3 %

Shares of NASDAQ PLL opened at $11.68 on Friday. The business has a 50-day simple moving average of $10.93 and a two-hundred day simple moving average of $10.95. Piedmont Lithium has a 52 week low of $6.57 and a 52 week high of $31.82. The company has a market cap of $227.04 million, a P/E ratio of -2.86 and a beta of 0.74. The company has a quick ratio of 2.32, a current ratio of 1.99 and a debt-to-equity ratio of 0.01.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC boosted its position in Piedmont Lithium by 12.0% during the second quarter. Millennium Management LLC now owns 381,248 shares of the mineral exploration company’s stock valued at $3,805,000 after buying an additional 40,826 shares during the period. Point72 Asset Management L.P. boosted its holdings in Piedmont Lithium by 20.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 300,000 shares of the mineral exploration company’s stock valued at $2,994,000 after acquiring an additional 50,000 shares during the period. Boston Partners grew its position in Piedmont Lithium by 154.5% during the 1st quarter. Boston Partners now owns 170,097 shares of the mineral exploration company’s stock worth $2,266,000 after acquiring an additional 103,273 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Piedmont Lithium by 15.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 154,881 shares of the mineral exploration company’s stock worth $1,383,000 after purchasing an additional 20,481 shares during the period. Finally, HITE Hedge Asset Management LLC increased its stake in Piedmont Lithium by 2.9% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 153,007 shares of the mineral exploration company’s stock worth $1,366,000 after purchasing an additional 4,345 shares during the period. 52.23% of the stock is currently owned by institutional investors.

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.