Piedmont Lithium (NASDAQ:PLL) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Piedmont Lithium (NASDAQ:PLL) had its price objective lifted by research analysts at BMO Capital Markets from $9.50 to $14.00 in a report issued on Friday,Benzinga reports. The firm currently has a “market perform” rating on the mineral exploration company’s stock. BMO Capital Markets’ target price indicates a potential upside of 11.46% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Macquarie raised shares of Piedmont Lithium from an “underperform” rating to a “neutral” rating and set a $13.50 price objective for the company in a research note on Thursday, November 21st. Roth Mkm lowered shares of Piedmont Lithium from a “buy” rating to a “neutral” rating and reduced their price target for the company from $32.00 to $13.00 in a research report on Wednesday, November 20th. Roth Capital cut shares of Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 20th. B. Riley dropped their price objective on Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $8.00 target price (down from $9.00) on shares of Piedmont Lithium in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $21.21.

Piedmont Lithium Price Performance

Shares of NASDAQ:PLL opened at $12.56 on Friday. The firm has a market capitalization of $244.17 million, a PE ratio of -3.07 and a beta of 0.74. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $11.94 and a two-hundred day moving average price of $10.90. Piedmont Lithium has a twelve month low of $6.57 and a twelve month high of $31.82.

Institutional Investors Weigh In On Piedmont Lithium

A number of large investors have recently made changes to their positions in the business. National Bank of Canada FI boosted its position in shares of Piedmont Lithium by 2,095.4% during the third quarter. National Bank of Canada FI now owns 2,854 shares of the mineral exploration company’s stock valued at $25,000 after purchasing an additional 2,724 shares in the last quarter. FMR LLC boosted its holdings in shares of Piedmont Lithium by 38.7% during the 3rd quarter. FMR LLC now owns 3,353 shares of the mineral exploration company’s stock valued at $30,000 after buying an additional 936 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Piedmont Lithium in the 2nd quarter worth about $47,000. State Board of Administration of Florida Retirement System bought a new position in shares of Piedmont Lithium in the 1st quarter worth about $71,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Piedmont Lithium during the 2nd quarter valued at about $58,000. 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.