Piedmont Lithium (NASDAQ:PLL) Downgraded by Zacks Investment Research to “Sell”

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Zacks Investment Research cut shares of Piedmont Lithium (NASDAQ:PLL) from a hold rating to a sell rating in a report released on Saturday, Zacks.com reports.

According to Zacks, “Piedmont Lithium Ltd is a mineral resource company. It engages in the identification, acquisition, exploration and development of resource projects primarily in Australia. Piedmont Lithium Ltd is based in Perth, Australia. “

PLL has been the topic of a number of other reports. ValuEngine raised Piedmont Lithium from a hold rating to a buy rating in a research note on Tuesday, June 9th. Roth Capital cut their target price on Piedmont Lithium from $28.00 to $20.00 and set a buy rating on the stock in a research note on Wednesday, May 27th.

PLL opened at $5.61 on Friday. The stock has a fifty day simple moving average of $7.00 and a two-hundred day simple moving average of $7.15. The company has a market cap of $37.45 million, a price-to-earnings ratio of -3.55 and a beta of 1.89. Piedmont Lithium has a 12-month low of $4.00 and a 12-month high of $11.75.

Piedmont Lithium Company Profile

Piedmont Lithium Limited engages in the exploration and development of mineral properties in the United States. It primarily holds a 100% interest in the Piedmont lithium project covering a landholding of 1,092 acres in the Carolina Lithium Belt, North Carolina. The company was formerly known as WCP Resources Limited and changed its name to Piedmont Lithium Limited in August 2017.

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