Piedmont Lithium’s (PLL) “Buy” Rating Reaffirmed at Evercore ISI

Piedmont Lithium (NASDAQ:PLL)‘s stock had its “buy” rating restated by analysts at Evercore ISI in a research note issued on Thursday, AnalystRatings.com reports. They currently have a $95.00 price objective on the mineral exploration company’s stock. Evercore ISI’s price objective indicates a potential upside of 61.26% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Loop Capital boosted their target price on shares of Piedmont Lithium from $86.00 to $108.00 and gave the company a “buy” rating in a research note on Monday, October 4th. Zacks Investment Research cut shares of Piedmont Lithium from a “hold” rating to a “sell” rating in a report on Friday, October 8th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Piedmont Lithium presently has a consensus rating of “Buy” and an average price target of $82.89.

Shares of NASDAQ:PLL opened at $58.91 on Thursday. The company’s fifty day moving average is $58.69 and its two-hundred day moving average is $61.35. The company has a debt-to-equity ratio of 0.01, a current ratio of 23.15 and a quick ratio of 23.15. Piedmont Lithium has a 12-month low of $23.56 and a 12-month high of $88.97.

In other Piedmont Lithium news, Director Jeffrey T. Armstrong acquired 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 29th. The stock was purchased at an average cost of $51.09 per share, for a total transaction of $127,725.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.72% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley raised its position in shares of Piedmont Lithium by 479.4% during the first quarter. Morgan Stanley now owns 98,031 shares of the mineral exploration company’s stock valued at $6,812,000 after buying an additional 81,111 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Piedmont Lithium during the second quarter valued at about $4,658,000. BlackRock Inc. raised its position in shares of Piedmont Lithium by 430.3% during the second quarter. BlackRock Inc. now owns 71,739 shares of the mineral exploration company’s stock valued at $5,607,000 after buying an additional 58,211 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Piedmont Lithium by 25.7% during the second quarter. Principal Financial Group Inc. now owns 210,537 shares of the mineral exploration company’s stock valued at $16,456,000 after buying an additional 43,062 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Piedmont Lithium during the first quarter valued at about $2,255,000. Institutional investors own 15.32% of the company’s stock.

About Piedmont Lithium

Piedmont Lithium, Inc is an exploration stage company, which engages in the exploration and development of mineral properties. The firm focuses on developing and manufacturing battery quality lithium hydroxide for the electric vehicle industry. Its projects include Carolina Lithium, Quebec, and Ghana.

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Analyst Recommendations for Piedmont Lithium (NASDAQ:PLL)

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