Piedmont Lithium (NASDAQ:PLL) Stock Rating Reaffirmed by JPMorgan Chase & Co.

Piedmont Lithium (NASDAQ:PLL)‘s stock had its “underweight” rating reiterated by analysts at JPMorgan Chase & Co. in a research note issued to investors on Monday, MarketBeat.com reports. They presently have a $8.00 target price on the mineral exploration company’s stock, down from their previous target price of $9.00. JPMorgan Chase & Co.‘s target price suggests a potential downside of 34.10% from the stock’s current price.

PLL has been the subject of a number of other research reports. Macquarie cut 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. B. Riley reduced their price target on Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, August 12th. BMO Capital Markets reduced their price target on Piedmont Lithium from $15.00 to $8.50 and set a “market perform” rating for the company in a research report on Friday, September 6th. Finally, Roth Mkm reissued a “buy” rating and set a $40.00 price objective (down previously from $61.00) on shares of Piedmont Lithium in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.47.

Piedmont Lithium Stock Up 15.3 %

Shares of Piedmont Lithium stock opened at $12.14 on Monday. The stock’s fifty day moving average is $9.22 and its 200-day moving average is $10.96. The firm has a market capitalization of $235.88 million, a PE ratio of -5.95 and a beta of 0.81. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.01. Piedmont Lithium has a 12-month low of $6.57 and a 12-month high of $31.82.

Piedmont Lithium (NASDAQ:PLL) last issued its quarterly earnings results on Thursday, August 8th. The mineral exploration company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.53). The firm had revenue of $13.23 million during the quarter, compared to analyst estimates of $14.89 million. During the same quarter last year, the company earned ($0.55) EPS. Equities analysts anticipate that Piedmont Lithium will post -2.47 earnings per share for the current year.

Institutional Investors Weigh In On Piedmont Lithium

Large investors have recently modified their holdings of the stock. HITE Hedge Asset Management LLC bought a new stake in Piedmont Lithium during the 2nd quarter worth approximately $1,484,000. Raymond James & Associates bought a new stake in Piedmont Lithium during the 2nd quarter worth approximately $1,472,000. 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. Marshall Wace LLP bought a new stake in Piedmont Lithium during the 2nd quarter worth approximately $874,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Piedmont Lithium during the 2nd quarter worth approximately $723,000. 52.23% of the stock is currently owned by institutional investors.

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.