Piedmont Lithium (NASDAQ:PLL) Given New $14.00 Price Target at BMO Capital Markets

Piedmont Lithium (NASDAQ:PLL) had its price target increased by research analysts at BMO Capital Markets from $9.50 to $14.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “market perform” rating on the mineral exploration company’s stock. BMO Capital Markets’ target price suggests a potential upside of 12.00% from the stock’s previous close.

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

Piedmont Lithium Price Performance

Shares of PLL stock traded up $0.15 during trading hours on Friday, hitting $12.50. The company’s stock had a trading volume of 207,971 shares, compared to its average volume of 714,485. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $11.84 and a 200-day moving average of $10.92. Piedmont Lithium has a twelve month low of $6.57 and a twelve month high of $31.82. The stock has a market cap of $243 million, a price-to-earnings ratio of -3.06 and a beta of 0.74.

Institutional Investors Weigh In On Piedmont Lithium

Several hedge funds have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System purchased a new position in shares of Piedmont Lithium in the 1st quarter worth about $71,000. Price T Rowe Associates Inc. MD raised its holdings in Piedmont Lithium by 49.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,054 shares of the mineral exploration company’s stock valued at $254,000 after buying an additional 6,328 shares during the period. Boston Partners lifted its position in Piedmont Lithium by 154.5% during the first quarter. Boston Partners now owns 170,097 shares of the mineral exploration company’s stock valued at $2,266,000 after buying an additional 103,273 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Piedmont Lithium during the second quarter worth approximately $144,000. Finally, Raymond James & Associates acquired a new stake in shares of Piedmont Lithium in the second quarter worth $1,472,000. 52.23% of the stock is owned by institutional investors and hedge funds.

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.