Piedmont Lithium Inc. (NASDAQ:PLL) Shares Bought by Boston Partners

Boston Partners lifted its holdings in shares of Piedmont Lithium Inc. (NASDAQ:PLL) by 154.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 170,097 shares of the mineral exploration company’s stock after buying an additional 103,273 shares during the period. Boston Partners’ holdings in Piedmont Lithium were worth $2,266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PLL. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Piedmont Lithium by 107.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 390,064 shares of the mineral exploration company’s stock valued at $11,012,000 after acquiring an additional 201,881 shares in the last quarter. Norges Bank acquired a new stake in Piedmont Lithium in the fourth quarter worth approximately $7,148,000. Scarborough Advisors LLC bought a new position in Piedmont Lithium during the 4th quarter valued at $98,000. Principal Financial Group Inc. increased its position in shares of Piedmont Lithium by 0.3% during the 4th quarter. Principal Financial Group Inc. now owns 361,625 shares of the mineral exploration company’s stock valued at $10,209,000 after purchasing an additional 1,232 shares during the period. Finally, GAMMA Investing LLC bought a new stake in shares of Piedmont Lithium in the 4th quarter worth $34,000. 52.23% of the stock is owned by institutional investors.

Piedmont Lithium Price Performance

Piedmont Lithium stock traded down $0.16 during midday trading on Friday, reaching $9.13. The stock had a trading volume of 604,398 shares, compared to its average volume of 421,331. Piedmont Lithium Inc. has a twelve month low of $8.71 and a twelve month high of $52.76. The firm has a market cap of $176.85 million, a price-to-earnings ratio of -4.81 and a beta of 0.84. The firm’s fifty day simple moving average is $11.13 and its two-hundred day simple moving average is $12.97.

Piedmont Lithium (NASDAQ:PLL) last issued its earnings results on Thursday, May 9th. The mineral exploration company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.07). The firm had revenue of $13.40 million during the quarter, compared to analyst estimates of $13.77 million. As a group, sell-side analysts predict that Piedmont Lithium Inc. will post -1.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. BMO Capital Markets reduced 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 research report on Friday, July 26th. DA Davidson reissued a “buy” rating and set a $60.00 target price on shares of Piedmont Lithium in a research note on Tuesday, April 16th. Finally, Roth Mkm decreased their price target on shares of Piedmont Lithium from $65.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Piedmont Lithium has a consensus rating of “Hold” and an average price target of $44.33.

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.