What is Roth Capital’s Forecast for PLL FY2024 Earnings?

Piedmont Lithium Inc. (NASDAQ:PLL) – Investment analysts at Roth Capital decreased their FY2024 earnings estimates for Piedmont Lithium in a research note issued to investors on Tuesday, November 12th. Roth Capital analyst J. Reagor now forecasts that the mineral exploration company will earn ($3.02) per share for the year, down from their previous forecast of ($2.40). The consensus estimate for Piedmont Lithium’s current full-year earnings is ($2.66) per share. Roth Capital also issued estimates for Piedmont Lithium’s Q4 2024 earnings at ($0.25) EPS, Q1 2025 earnings at $0.11 EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at $0.03 EPS and FY2025 earnings at $0.16 EPS.

Other equities analysts have also recently issued reports about the stock. Macquarie cut shares of Piedmont Lithium from a “neutral” rating to an “underperform” rating and set a $7.80 target price on the stock. in a report on Wednesday, October 16th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $8.00 target price (down from $9.00) on shares of Piedmont Lithium in a report on Monday, October 21st. BMO Capital Markets raised their price target on Piedmont Lithium from $8.50 to $9.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Roth Mkm restated a “buy” rating and issued a $31.00 price target (down previously from $40.00) on shares of Piedmont Lithium in a research report on Wednesday, October 30th. Finally, B. Riley decreased their price objective on Piedmont Lithium from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $22.26.

Piedmont Lithium Price Performance

Shares of NASDAQ PLL opened at $11.68 on Friday. The stock has a market cap of $227.04 million, a P/E ratio of -2.86 and a beta of 0.74. Piedmont Lithium has a twelve month low of $6.57 and a twelve month high of $31.82. The stock has a 50 day moving average of $10.93 and a two-hundred day moving average of $10.96. The company has a current ratio of 1.99, a quick ratio of 2.32 and a debt-to-equity ratio of 0.01.

Piedmont Lithium (NASDAQ:PLL) last posted its earnings results on Tuesday, November 12th. The mineral exploration company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.40). The firm had revenue of $27.66 million during the quarter, compared to analyst estimates of $32.91 million.

Institutional Trading of Piedmont Lithium

A number of institutional investors have recently modified their holdings of the business. Headlands Technologies LLC purchased a new position in Piedmont Lithium in the first quarter valued at about $25,000. National Bank of Canada FI increased its stake in Piedmont Lithium by 2,095.4% in the 3rd quarter. National Bank of Canada FI now owns 2,854 shares of the mineral exploration company’s stock valued at $25,000 after purchasing an additional 2,724 shares in the last quarter. FMR LLC raised its holdings in Piedmont Lithium by 38.7% during the third quarter. FMR LLC now owns 3,353 shares of the mineral exploration company’s stock worth $30,000 after purchasing an additional 936 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Piedmont Lithium during the second quarter worth $47,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Piedmont Lithium in the first quarter valued at $71,000. 52.23% of the stock is currently owned by hedge funds and other institutional investors.

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.