Piedmont Lithium Inc. (NASDAQ:PLL) Expected to Post Q4 2024 Earnings of $0.08 Per Share

Piedmont Lithium Inc. (NASDAQ:PLL) – Equities researchers at Roth Capital lowered their Q4 2024 earnings per share estimates for shares of Piedmont Lithium in a research report issued on Friday, August 9th. Roth Capital analyst J. Reagor now forecasts that the mineral exploration company will post earnings of $0.08 per share for the quarter, down from their prior estimate of $0.09. The consensus estimate for Piedmont Lithium’s current full-year earnings is ($1.33) per share.

Piedmont Lithium (NASDAQ:PLL) last issued its quarterly earnings results on Thursday, August 8th. The mineral exploration company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.53). The business had revenue of $13.23 million for the quarter, compared to analyst estimates of $14.89 million. During the same quarter in the prior year, the company earned ($0.55) earnings per share.

A number of other equities research analysts have also issued reports on PLL. Macquarie reiterated a “neutral” rating and issued a $9.30 price target on shares of Piedmont Lithium in a research note on Monday. Roth Mkm reiterated a “buy” rating and set a $40.00 target price (down previously from $61.00) on shares of Piedmont Lithium in a research report on Friday, August 9th. B. Riley decreased their target price on Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday. DA Davidson restated a “buy” rating and issued a $60.00 price target on shares of Piedmont Lithium in a research note on Tuesday, April 16th. Finally, BMO Capital Markets cut their price objective on shares of Piedmont Lithium from $28.00 to $15.00 and set a “market perform” rating for the company in a report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Piedmont Lithium currently has an average rating of “Hold” and an average price target of $25.61.

Piedmont Lithium Price Performance

Shares of PLL stock opened at $7.87 on Monday. Piedmont Lithium has a one year low of $7.32 and a one year high of $46.66. The company’s fifty day moving average price is $10.45 and its 200-day moving average price is $12.47. The company has a market capitalization of $152.44 million, a price-to-earnings ratio of -4.14 and a beta of 0.84.

Institutional Trading of Piedmont Lithium

A number of large investors have recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC bought a new stake in shares of Piedmont Lithium in the 4th quarter worth about $28,000. GAMMA Investing LLC bought a new stake in Piedmont Lithium during the fourth quarter worth approximately $34,000. Headlands Technologies LLC bought a new stake in Piedmont Lithium during the first quarter worth approximately $25,000. PNC Financial Services Group Inc. raised its position in Piedmont Lithium by 143.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,580 shares of the mineral exploration company’s stock valued at $73,000 after purchasing an additional 1,521 shares during the period. Finally, Scarborough Advisors LLC bought a new stake in shares of Piedmont Lithium in the 4th quarter valued at approximately $98,000. Institutional investors own 52.23% of the company’s stock.

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.