Piedmont Lithium (NASDAQ:PLL) Stock Rating Upgraded by Macquarie

Piedmont Lithium (NASDAQ:PLL) was upgraded by research analysts at Macquarie from an “underperform” rating to a “neutral” rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The brokerage currently has a $13.50 price target on the mineral exploration company’s stock. Macquarie’s target price would indicate a potential upside of 28.94% from the company’s previous close.

Other equities analysts also recently issued reports about the company. B. Riley lowered their target price on Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Roth Capital cut Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Roth Mkm lowered shares of Piedmont Lithium from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $32.00 to $13.00 in a report on Wednesday. BMO Capital Markets lifted their price target on shares of Piedmont Lithium from $8.50 to $9.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $8.00 price target (down from $9.00) on shares of Piedmont Lithium in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.50.

Piedmont Lithium Trading Down 14.5 %

Shares of PLL stock opened at $10.47 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. Piedmont Lithium has a 12-month low of $6.57 and a 12-month high of $31.82. The stock has a market capitalization of $203.54 million, a P/E ratio of -2.56 and a beta of 0.74. The firm’s 50 day moving average is $11.21 and its 200 day moving average is $10.93.

Institutional Investors Weigh In On Piedmont Lithium

Several large investors have recently made changes to their positions in PLL. National Bank of Canada FI grew its position in Piedmont Lithium by 2,095.4% in the third quarter. National Bank of Canada FI now owns 2,854 shares of the mineral exploration company’s stock worth $25,000 after acquiring an additional 2,724 shares in the last quarter. FMR LLC boosted its holdings in shares of Piedmont Lithium by 38.7% in the 3rd quarter. FMR LLC now owns 3,353 shares of the mineral exploration company’s stock worth $30,000 after purchasing an additional 936 shares during the period. Point72 DIFC Ltd bought a new position in shares of Piedmont Lithium during the 2nd quarter valued at approximately $47,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Piedmont Lithium during the 2nd quarter valued at $58,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in Piedmont Lithium in the first quarter worth $71,000. 52.23% of the stock is owned by institutional investors.

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.