Boston Partners Increases Stock Holdings in Piedmont Lithium Inc. (NASDAQ:PLL)

Boston Partners lifted its holdings in shares of Piedmont Lithium Inc. (NASDAQ:PLL) by 154.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 170,097 shares of the mineral exploration company’s stock after purchasing an additional 103,273 shares during the quarter. Boston Partners owned about 0.88% of Piedmont Lithium worth $2,266,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PLL. ICA Group Wealth Management LLC purchased a new position in shares of Piedmont Lithium in the 4th quarter valued at about $28,000. GAMMA Investing LLC acquired a new position in Piedmont Lithium during the 4th quarter worth approximately $34,000. Headlands Technologies LLC purchased a new stake in shares of Piedmont Lithium in the 1st quarter valued at approximately $25,000. PNC Financial Services Group Inc. lifted its position in shares of Piedmont Lithium by 143.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,580 shares of the mineral exploration company’s stock worth $73,000 after purchasing an additional 1,521 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new position in shares of Piedmont Lithium during the fourth quarter worth $98,000. Institutional investors and hedge funds own 52.23% of the company’s stock.

Piedmont Lithium Trading Down 1.7 %

Shares of NASDAQ PLL traded down $0.16 during trading hours on Friday, reaching $9.13. The stock had a trading volume of 604,398 shares, compared to its average volume of 421,331. The firm has a 50-day moving average of $11.13 and a 200-day moving average of $12.97. The firm has a market cap of $176.85 million, a price-to-earnings ratio of -4.81 and a beta of 0.84. Piedmont Lithium Inc. has a fifty-two week low of $8.71 and a fifty-two week high of $52.76.

Piedmont Lithium (NASDAQ:PLL) last posted its quarterly earnings data on Thursday, May 9th. The mineral exploration company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.07). The firm had revenue of $13.40 million during the quarter, compared to analyst estimates of $13.77 million. On average, equities analysts predict that Piedmont Lithium Inc. will post -1.74 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on PLL shares. DA Davidson reaffirmed a “buy” rating and set a $60.00 price target on shares of Piedmont Lithium in a report on Tuesday, April 16th. BMO Capital Markets lowered their price target on Piedmont Lithium from $28.00 to $15.00 and set a “market perform” rating for the company in a report on Friday, July 26th. Finally, Roth Mkm dropped their price target on shares of Piedmont Lithium from $65.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $44.33.

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.