Mirae Asset Global Investments Co. Ltd. Makes New $21.40 Million Investment in Piedmont Lithium Inc. (NASDAQ:PLL)

Mirae Asset Global Investments Co. Ltd. acquired a new position in Piedmont Lithium Inc. (NASDAQ:PLLGet Rating) in the 1st quarter, Holdings Channel reports. The firm acquired 293,156 shares of the mineral exploration company’s stock, valued at approximately $21,398,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Captrust Financial Advisors raised its holdings in Piedmont Lithium by 14.2% in the 1st quarter. Captrust Financial Advisors now owns 1,888 shares of the mineral exploration company’s stock worth $138,000 after purchasing an additional 235 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Piedmont Lithium by 108.7% in the 1st quarter. National Bank of Canada FI now owns 480 shares of the mineral exploration company’s stock worth $35,000 after acquiring an additional 250 shares in the last quarter. Citigroup Inc. increased its stake in shares of Piedmont Lithium by 112.3% in the 1st quarter. Citigroup Inc. now owns 620 shares of the mineral exploration company’s stock worth $45,000 after acquiring an additional 328 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Piedmont Lithium in the 1st quarter worth about $36,000. Finally, Fifth Third Bancorp bought a new position in shares of Piedmont Lithium in the 1st quarter worth about $50,000. 50.01% of the stock is currently owned by institutional investors.

Piedmont Lithium Price Performance

Shares of PLL stock opened at $59.55 on Friday. Piedmont Lithium Inc. has a one year low of $32.08 and a one year high of $79.99. The company’s 50-day moving average is $51.80 and its 200 day moving average is $57.28.

Analysts Set New Price Targets

PLL has been the subject of several research reports. Roth Capital reiterated a “buy” rating on shares of Piedmont Lithium in a research note on Monday, September 5th. Cowen initiated coverage on shares of Piedmont Lithium in a research note on Monday, May 23rd. They issued an “outperform” rating and a $90.00 price target for the company. Finally, Cowen started coverage on shares of Piedmont Lithium in a research note on Monday, May 23rd. They issued an “outperform” rating for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $96.00.

Insider Activity at Piedmont Lithium

In related news, Director Jeffrey T. Armstrong purchased 2,500 shares of the company’s stock in a transaction dated Wednesday, June 29th. The shares were purchased at an average price of $38.27 per share, with a total value of $95,675.00. Following the acquisition, the director now directly owns 33,969 shares in the company, valued at approximately $1,299,993.63. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Jeffrey T. Armstrong purchased 2,500 shares of the company’s stock in a transaction dated Wednesday, June 29th. The shares were purchased at an average price of $38.27 per share, with a total value of $95,675.00. Following the acquisition, the director now directly owns 33,969 shares in the company, valued at approximately $1,299,993.63. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Keith D. Phillips sold 5,995 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $51.82, for a total transaction of $310,660.90. Following the sale, the chief executive officer now directly owns 110,771 shares in the company, valued at approximately $5,740,153.22. The disclosure for this sale can be found here. 1.75% of the stock is currently owned by insiders.

About Piedmont Lithium

(Get Rating)

Piedmont Lithium Inc, an exploration 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 3,116 acres located within the Carolina Tin-Spodumene Belt situated to the west of Charlotte, North Carolina in the United States.

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Institutional Ownership by Quarter for Piedmont Lithium (NASDAQ:PLL)

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