Piedmont Lithium (NASDAQ:PLL) Posts Earnings Results, Misses Estimates By $0.12 EPS

Piedmont Lithium (NASDAQ:PLL) posted its quarterly earnings data on Thursday. The mineral exploration company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.12), Zacks reports.

Piedmont Lithium Trading Up 3.0 %

NASDAQ PLL traded up $0.25 during trading hours on Thursday, hitting $8.45. 240,827 shares of the company were exchanged, compared to its average volume of 270,873. The stock has a 50-day moving average price of $8.91 and a 200 day moving average price of $9.91. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.01. Piedmont Lithium has a 52 week low of $6.57 and a 52 week high of $17.66. The stock has a market cap of $164.23 million, a PE ratio of -2.08 and a beta of 0.78.

Analysts Set New Price Targets

A number of research firms recently weighed in on PLL. Roth Capital lowered Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. BMO Capital Markets lifted their target price on Piedmont Lithium from $9.50 to $14.00 and gave the company a “market perform” rating in a research report on Friday, November 29th. Macquarie upgraded Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Finally, Roth Mkm downgraded Piedmont Lithium from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $32.00 to $13.00 in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Piedmont Lithium presently has a consensus rating of “Hold” and an average price target of $21.42.

Insiders Place Their Bets

In other Piedmont Lithium news, CEO Keith D. Phillips sold 41,867 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $12.31, for a total transaction of $515,382.77. Following the sale, the chief executive officer now directly owns 170,616 shares of the company’s stock, valued at $2,100,282.96. The trade was a 19.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.81% of the stock is currently owned by insiders.

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.