Piedmont Lithium (NASDAQ:PLL) Releases Earnings Results, Misses Estimates By $0.12 EPS

Piedmont Lithium (NASDAQ:PLL) posted its earnings results 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 company had revenue of $45.59 million during the quarter, compared to analysts’ expectations of $52.60 million. Piedmont Lithium had a negative net margin of 64.84% and a negative return on equity of 17.74%.

Piedmont Lithium Stock Performance

NASDAQ:PLL traded down $0.35 during mid-day trading on Friday, reaching $8.15. The stock had a trading volume of 318,138 shares, compared to its average volume of 228,755. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 2.23. The business has a 50 day simple moving average of $8.80 and a 200 day simple moving average of $9.90. Piedmont Lithium has a twelve month low of $6.57 and a twelve month high of $17.66. The firm has a market capitalization of $158.44 million, a price-to-earnings ratio of -2.45 and a beta of 0.78.

Insiders Place Their Bets

In other Piedmont Lithium news, CEO Keith D. Phillips sold 41,867 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $12.31, for a total transaction of $515,382.77. Following the transaction, the chief executive officer now owns 170,616 shares in the company, valued at approximately $2,100,282.96. The trade was a 19.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.81% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PLL has been the topic of a number of recent analyst reports. BMO Capital Markets increased their target price on shares of Piedmont Lithium from $9.50 to $14.00 and gave the company a “market perform” rating in a research report on Friday, November 29th. Macquarie raised shares of Piedmont Lithium from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Roth Mkm lowered their price objective on shares of Piedmont Lithium from $13.00 to $8.25 and set a “neutral” rating on the stock in a research report on Friday. Finally, Roth Capital downgraded shares of Piedmont Lithium from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 20th. 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 given a strong buy rating to the stock. According to data from MarketBeat, Piedmont Lithium presently has a consensus rating of “Hold” and a consensus target price of $20.63.

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.