Piedmont Lithium Inc. (NASDAQ:PLL) Receives Consensus Rating of “Buy” from Brokerages

Piedmont Lithium Inc. (NASDAQ:PLLGet Rating) has received an average recommendation of “Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $96.25.

PLL has been the topic of a number of recent analyst reports. Roth Capital reiterated a “buy” rating on shares of Piedmont Lithium in a report on Monday, September 5th. B. Riley increased their price target on Piedmont Lithium from $95.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, October 27th.

Insider Activity

In other news, CEO Keith D. Phillips sold 6,164 shares of Piedmont Lithium stock in a transaction that occurred on Friday, October 21st. The stock was sold at an average price of $56.79, for a total value of $350,053.56. Following the completion of the transaction, the chief executive officer now owns 120,259 shares in the company, valued at approximately $6,829,508.61. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Keith D. Phillips sold 7,324 shares of the business’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $62.64, for a total transaction of $458,775.36. Following the completion of the sale, the chief executive officer now owns 128,982 shares of the company’s stock, valued at approximately $8,079,432.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Keith D. Phillips sold 6,164 shares of the firm’s stock in a transaction dated Friday, October 21st. The stock was sold at an average price of $56.79, for a total transaction of $350,053.56. Following the completion of the transaction, the chief executive officer now directly owns 120,259 shares in the company, valued at approximately $6,829,508.61. The disclosure for this sale can be found here. Company insiders own 1.75% of the company’s stock.

Institutional Trading of Piedmont Lithium

Institutional investors and hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI grew its stake in Piedmont Lithium by 108.7% during the 1st quarter. National Bank of Canada FI now owns 480 shares of the mineral exploration company’s stock worth $35,000 after buying an additional 250 shares during the last quarter. Optimum Investment Advisors bought a new position in shares of Piedmont Lithium during the third quarter worth about $27,000. Geneos Wealth Management Inc. bought a new stake in Piedmont Lithium in the 1st quarter valued at about $36,000. First Personal Financial Services acquired a new position in Piedmont Lithium during the 3rd quarter valued at about $33,000. Finally, Citigroup Inc. grew its position in 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 purchasing an additional 328 shares during the last quarter. 50.01% of the stock is currently owned by institutional investors and hedge funds.

Piedmont Lithium Price Performance

NASDAQ PLL opened at $57.45 on Tuesday. The company’s fifty day simple moving average is $58.21 and its 200-day simple moving average is $53.40. Piedmont Lithium has a 52 week low of $32.08 and a 52 week high of $79.99.

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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Analyst Recommendations for Piedmont Lithium (NASDAQ:PLL)

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