Northern Trust Corp Increases Holdings in Piedmont Lithium Inc. (NASDAQ:PLL)

Northern Trust Corp grew its holdings in Piedmont Lithium Inc. (NASDAQ:PLL) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,989 shares of the mineral exploration company’s stock after acquiring an additional 5,247 shares during the period. Northern Trust Corp’s holdings in Piedmont Lithium were worth $1,372,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Atria Wealth Solutions Inc. purchased a new position in shares of Piedmont Lithium in the fourth quarter valued at about $91,000. Raymond James Financial Inc. purchased a new position in shares of Piedmont Lithium in the fourth quarter valued at about $98,000. Mariner LLC lifted its position in shares of Piedmont Lithium by 12.0% in the fourth quarter. Mariner LLC now owns 12,262 shares of the mineral exploration company’s stock valued at $107,000 after acquiring an additional 1,313 shares in the last quarter. American Century Companies Inc. purchased a new position in shares of Piedmont Lithium in the fourth quarter valued at about $109,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Piedmont Lithium by 23.1% in the third quarter. JPMorgan Chase & Co. now owns 31,060 shares of the mineral exploration company’s stock valued at $277,000 after acquiring an additional 5,831 shares in the last quarter. 52.23% of the stock is currently owned by hedge funds and other institutional investors.

Piedmont Lithium Price Performance

NASDAQ:PLL opened at $6.55 on Wednesday. The company has a current ratio of 2.23, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $143.75 million, a P/E ratio of -1.97 and a beta of 0.42. Piedmont Lithium Inc. has a 12 month low of $5.15 and a 12 month high of $15.44. The business’s 50-day moving average is $6.75 and its 200 day moving average is $8.46.

Piedmont Lithium (NASDAQ:PLL) last posted its earnings results on Wednesday, May 7th. The mineral exploration company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.21). The firm had revenue of $20.00 million during the quarter, compared to analysts’ expectations of $36.34 million. Piedmont Lithium had a negative return on equity of 17.74% and a negative net margin of 64.84%. On average, equities research analysts forecast that Piedmont Lithium Inc. will post -0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm lowered their price objective on Piedmont Lithium from $13.00 to $8.25 and set a “neutral” rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.75.

Piedmont Lithium 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.