Piedmont Lithium (NASDAQ:PLL) Releases Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Piedmont Lithium (NASDAQ:PLL) announced its earnings results on Thursday. The mineral exploration company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.12), Zacks reports.

Piedmont Lithium Price Performance

Piedmont Lithium stock traded up $0.27 during mid-day trading on Thursday, hitting $8.47. The company’s stock had a trading volume of 259,230 shares, compared to its average volume of 271,436. 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 stock has a market capitalization of $164.73 million, a P/E ratio of -2.07 and a beta of 0.78. Piedmont Lithium has a twelve month low of $6.57 and a twelve month high of $17.66. The stock’s fifty day moving average price is $8.91 and its two-hundred day moving average price is $9.91.

Insiders Place Their Bets

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

Analyst Ratings Changes

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

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.