Piedmont Lithium (NASDAQ:PLL) Issues Quarterly Earnings Results

Piedmont Lithium (NASDAQ:PLL) posted its quarterly earnings data on Thursday. The mineral exploration company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.12), Zacks reports.

Piedmont Lithium Price Performance

NASDAQ:PLL traded up $0.27 during trading hours on Thursday, reaching $8.47. 259,230 shares of the company traded hands, compared to its average volume of 271,436. The firm’s 50-day moving average is $8.91 and its 200-day moving average is $9.91. The stock has a market cap of $164.73 million, a P/E ratio of -2.07 and a beta of 0.78. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.99 and a quick ratio of 1.99. Piedmont Lithium has a 1-year low of $6.57 and a 1-year high of $17.66.

Insider Buying and Selling at Piedmont Lithium

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

Wall Street Analyst Weigh In

PLL has been the topic of several recent analyst reports. Roth Capital cut Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Roth Mkm cut Piedmont Lithium from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $32.00 to $13.00 in a report on Wednesday, November 20th. BMO Capital Markets upped their price target on Piedmont Lithium from $9.50 to $14.00 and gave the stock a “market perform” rating in a report on Friday, November 29th. Finally, Macquarie upgraded Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.42.

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.