Raymond James Financial Inc. Takes $98,000 Position in Piedmont Lithium Inc. (NASDAQ:PLL)

Raymond James Financial Inc. acquired a new position in shares of Piedmont Lithium Inc. (NASDAQ:PLL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 11,226 shares of the mineral exploration company’s stock, valued at approximately $98,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PLL. Charles Schwab Investment Management Inc. raised its stake in Piedmont Lithium by 15.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 154,881 shares of the mineral exploration company’s stock valued at $1,383,000 after acquiring an additional 20,481 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Piedmont Lithium by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 70,082 shares of the mineral exploration company’s stock valued at $613,000 after purchasing an additional 1,855 shares during the period. Barclays PLC increased its holdings in shares of Piedmont Lithium by 104.9% during the third quarter. Barclays PLC now owns 34,322 shares of the mineral exploration company’s stock valued at $307,000 after purchasing an additional 17,569 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Piedmont Lithium by 23.1% during the third quarter. JPMorgan Chase & Co. now owns 31,060 shares of the mineral exploration company’s stock valued at $277,000 after purchasing an additional 5,831 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in Piedmont Lithium in the third quarter worth about $103,000. 52.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, 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 note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.63.

Piedmont Lithium Trading Up 4.8 %

PLL stock opened at $6.33 on Friday. 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 firm has a market cap of $138.91 million, a P/E ratio of -1.91 and a beta of 0.55. Piedmont Lithium Inc. has a 1-year low of $5.15 and a 1-year high of $17.66. The business’s 50 day moving average is $7.12 and its 200-day moving average is $9.58.

Piedmont Lithium (NASDAQ:PLL) last released its quarterly earnings results on Thursday, February 20th. The mineral exploration company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.12). Piedmont Lithium had a negative return on equity of 17.74% and a negative net margin of 64.84%. The business had revenue of $45.59 million for the quarter, compared to the consensus estimate of $52.60 million. Equities analysts anticipate that Piedmont Lithium Inc. will post -0.91 earnings per share for the current fiscal year.

About Piedmont Lithium

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.