JPMorgan Chase & Co. raises Piedmont Lithium (NASDAQ:PLL) price target to $92.00

Piedmont Lithium (NASDAQ:PLL – Get an assessment) had its price target raised by JPMorgan Chase & Co. equity research analysts from $84.00 to $92.00 in a research report released Thursday to clients and investors, Benzinga reports. The company currently has an “overweight” rating on shares of the mining exploration company. JPMorgan Chase & Co.’s target price would indicate a potential upside of 31.48% from the stock’s previous close.

Other stock analysts have also recently released research reports on the stock. Evercore ISI reiterated a “buy” rating and issued a $95.00 price target on Piedmont Lithium shares in a research note on Thursday, November 25. Zacks Investment Research moved Piedmont Lithium shares from a “hold” rating to a “sell” rating in a research note on Tuesday, February 22. Finally, B. Riley raised his price target on Piedmont Lithium shares from $89.00 to $95.00 and gave the stock a “buy” rating in a Thursday, Feb. 17 research note. . One research analyst has rated the stock with a sell rating and seven have assigned the company a buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $87.89.

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Piedmont Lithium stock traded down $5.20 by midday Thursday, hitting $69.97. 2,136,612 shares of the company were traded, against an average volume of 400,835. The company has a quick ratio of 10.65, a current ratio of 10.65 and a leverage ratio of 0.01. The company’s 50-day moving average price is $55.03 and its 200-day moving average price is $56.30. Piedmont Lithium has a 52 week low of $40.65 and a 52 week high of $79.50.

Piedmont Lithium Inc (NASDAQ:PLL – Get Rating) last released its quarterly earnings data on Sunday, February 27. The mining exploration company reported ($0.67) earnings per share (EPS) for the quarter, missing Zacks’ consensus estimate of ($0.46) by ($0.21). Research analysts expect Piedmont Lithium to post -1.97 EPS for the current year.

Separately, Chief Financial Officer Michael D. White sold 1,744 shares of the company in a trade on Tuesday, January 4. The stock was sold at an average price of $54.18, for a total value of $94,489.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Additionally, CEO Keith D. Phillips sold 695 shares of the company in a trade on Tuesday, February 8. The stock was sold at an average price of $48.92, for a total value of $33,999.40. The disclosure of this sale can be found here. Insiders sold a total of 2,993 shares of the company valued at $158,511 during the last quarter. Company insiders hold 4.50% of the company’s shares.

A number of institutional investors and hedge funds have recently bought and sold shares of PLL. Creative Planning increased its stake in Piedmont Lithium shares by 5.8% during the third quarter. Creative Planning now owns 4,258 shares of the mining exploration company worth $232,000 after acquiring 233 additional shares in the last quarter. Legal & General Group Plc increased its stake in Piedmont Lithium shares by 1.8% during the fourth quarter. Legal & General Group Plc now owns 15,004 shares in the mining exploration company worth $787,000 after acquiring 267 additional shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Piedmont Lithium shares by 107.6% during the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 519 shares of the mining exploration company worth $28,000 after acquiring 269 additional shares in the last quarter. Zurcher Kantonalbank Zurcher Kantonalbank increased its stake in Piedmont Lithium shares by 21.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,158 shares of the mining exploration company worth $113,000 after acquiring 380 additional shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Piedmont Lithium shares by 10.6% during the fourth quarter. Arizona State Retirement System now owns 4,271 shares of the mining exploration company worth $224,000 after purchasing 410 additional shares during the period. Institutional investors hold 15.61% of the company’s shares.

About Piedmont Lithium (Get a rating)

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

Further reading

Analyst Recommendations for Piedmont Lithium (NASDAQ:PLL)

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