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

Piedmont Lithium (NASDAQ:PLL) issued its quarterly earnings data on Thursday. The mineral exploration company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.12), Zacks reports. The firm had revenue of $45.59 million for the quarter, compared to analyst estimates of $52.60 million. Piedmont Lithium had a negative return on equity of 17.74% and a negative net margin of 64.84%.

Piedmont Lithium Stock Down 4.1 %

Piedmont Lithium stock traded down $0.35 during mid-day trading on Friday, reaching $8.15. 318,138 shares of the company’s stock were exchanged, compared to its average volume of 228,755. The company has a market cap of $158.44 million, a P/E ratio of -2.45 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 company has a quick ratio of 1.99, a current ratio of 2.23 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $8.80 and a 200-day moving average of $9.90.

Insiders Place Their Bets

In other news, CEO Keith D. Phillips sold 41,867 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $12.31, for a total value of $515,382.77. Following the sale, the chief executive officer now directly owns 170,616 shares in the company, valued at approximately $2,100,282.96. This trade represents a 19.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.81% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PLL shares. Roth Mkm decreased their target price on Piedmont Lithium from $13.00 to $8.25 and set a “neutral” rating on the stock in a research report on Friday. 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 increased 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. Finally, Macquarie upgraded Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.63.

About Piedmont Lithium

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.