For Piedmont Lithium Limited [PLL], Analyst sees a rise to $66. What next?

Piedmont Lithium Limited [NASDAQ: PLL] gained 13.82% on the last trading session, reaching $63.40 price per share at the time. The company report on February 8, 2021 that Leading Minerals Executive Joins Piedmont Board.

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Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce that experienced mining company executive Mr. Todd Hannigan has been appointed as Non-Executive Director of the Company, effective from.

Mr. Hannigan was formerly the Chief Executive Officer of Aston Resources Limited (“Aston”). During this period, he led the growth of Aston into one of Australia’s largest publicly listed resources companies. Aston raised approximately $2 billion in funding to acquire and develop the Maules Creek coal project through to first production. Aston merged with Whitehaven Coal Limited in a deal valued at over A$5 billion.

Piedmont Lithium Limited represents 13.85 million in outstanding shares, while the company has a total market value of $878.28 million with the latest information. PLL stock price has been found in the range of $55.50 to $64.987.

If compared to the average trading volume of 1.06M shares, PLL reached a trading volume of 1589297 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Piedmont Lithium Limited [PLL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PLL shares is $55.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PLL stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

B. Riley Securities have made an estimate for Piedmont Lithium Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 25, 2021. While these analysts kept the previous recommendation, Loop Capital raised their target price to Buy. The new note on the price target was released on January 22, 2021, representing the official price target for Piedmont Lithium Limited stock. Previously, the target price had yet another raise to $40, while BTIG Research analysts kept a Buy rating on PLL stock.

The Average True Range (ATR) for Piedmont Lithium Limited is set at 6.94 The Price to Book ratio for the last quarter was 27.57.

Trading performance analysis for PLL stock

Piedmont Lithium Limited [PLL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.62. With this latest performance, PLL shares gained by 14.75% in over the last four-week period, additionally plugging by 900.00% over the last 6 months – not to mention a rise of 664.60% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PLL stock in for the last two-week period is set at 62.31, with the RSI for the last a single of trading hit 63.12, and the three-weeks RSI is set at 62.20 for Piedmont Lithium Limited [PLL]. The present Moving Average for the last 50 days of trading for this stock 43.13, while it was recorded at 57.94 for the last single week of trading, and 21.19 for the last 200 days.

Piedmont Lithium Limited [PLL]: A deeper dive into fundamental analysis

Return on Total Capital for PLL is now -42.77, given the latest momentum, and Return on Invested Capital for the company is -38.23. Return on Equity for this stock declined to -40.75, with Return on Assets sitting at -33.95. When it comes to the capital structure of this company, Piedmont Lithium Limited [PLL] has a Total Debt to Total Equity ratio set at 10.76. Additionally, PLL Total Debt to Total Capital is recorded at 9.71, with Total Debt to Total Assets ending up at 9.35. Long-Term Debt to Equity for the company is recorded at 7.82, with the Long-Term Debt to Total Capital now at 7.06.

An analysis of insider ownership at Piedmont Lithium Limited [PLL]

There are presently around $97 million, or 0.84% of PLL stock, in the hands of institutional investors. The top three institutional holders of PLL stocks are: ALYESKA INVESTMENT GROUP, L.P. with ownership of 600,000, which is approximately New of the company’s market cap and around 0.24% of the total institutional ownership; VAN ECK ASSOCIATES CORP, holding 192,200 shares of the stock with an approximate value of $12.19 million in PLL stocks shares; and PRINCIPAL FINANCIAL GROUP INC, currently with $10.05 million in PLL stock with ownership of nearly New of the company’s market capitalization.

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Positions in Piedmont Lithium Limited stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 34 institutional holders increased their position in Piedmont Lithium Limited [NASDAQ:PLL] by around 1,496,652 shares. Additionally, 4 investors decreased positions by around 16,445 shares, while 0 investors held positions by with 14,602 shares. The mentioned changes placed institutional holdings at 1,527,699 shares, according to the latest SEC report filing. PLL stock had 28 new institutional investments in for a total of 1,472,047 shares, while 1 institutional investors sold positions of 13,321 shares during the same period.

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