Q3 EPS Forecast for Piedmont Lithium Decreased by Analyst

Piedmont Lithium Inc. (NASDAQ:PLL) – Equities researchers at Roth Capital decreased their Q3 2024 earnings per share (EPS) estimates for shares of Piedmont Lithium in a report released on Wednesday, October 30th. Roth Capital analyst J. Reagor now expects that the mineral exploration company will earn ($0.26) per share for the quarter, down from their prior estimate of ($0.24). The consensus estimate for Piedmont Lithium’s current full-year earnings is ($2.57) per share. Roth Capital also issued estimates for Piedmont Lithium’s Q4 2024 earnings at ($0.23) EPS, FY2024 earnings at ($2.40) EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.02) EPS.

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

Piedmont Lithium Trading Up 2.5 %

NASDAQ:PLL opened at $13.43 on Friday. The stock’s fifty day moving average price is $10.03 and its two-hundred day moving average price is $10.94. The company has a market cap of $260.94 million, a P/E ratio of -6.58 and a beta of 0.81. Piedmont Lithium has a 1 year low of $6.57 and a 1 year high of $31.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.32 and a quick ratio of 2.32.

Piedmont Lithium (NASDAQ:PLL) last released its quarterly earnings results on Thursday, August 8th. The mineral exploration company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.53). The business had revenue of $13.23 million during the quarter, compared to analysts’ expectations of $14.89 million. During the same quarter in the previous year, the business earned ($0.55) EPS.

Hedge Funds Weigh In On Piedmont Lithium

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new position in Piedmont Lithium in the 2nd quarter valued at $47,000. Cubist Systematic Strategies LLC purchased a new position in Piedmont Lithium during the second quarter worth about $723,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Piedmont Lithium in the 2nd quarter worth about $58,000. Point72 Asset Management L.P. grew its holdings in Piedmont Lithium by 20.0% in 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 buying an additional 50,000 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Piedmont Lithium by 12.0% during the 2nd quarter. Millennium Management LLC now owns 381,248 shares of the mineral exploration company’s stock valued at $3,805,000 after acquiring an additional 40,826 shares during the last quarter. Institutional investors and hedge funds 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.