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Piedmont Lithium Inc. (PLL) Gains As Market Dips: What You Should Know

·2 min read

In the latest trading session, Piedmont Lithium Inc. (PLL) closed at $62.66, marking a +0.93% move from the previous day. The stock outpaced the S&P 500's daily loss of 4.32%. Meanwhile, the Dow lost 3.94%, and the Nasdaq, a tech-heavy index, lost 0.36%.

Prior to today's trading, shares of the company had lost 7.76% over the past month. This has lagged the Basic Materials sector's loss of 1.06% and the S&P 500's loss of 3.75% in that time.

Investors will be hoping for strength from Piedmont Lithium Inc. as it approaches its next earnings release.

Investors should also note any recent changes to analyst estimates for Piedmont Lithium Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 27.29% lower. Piedmont Lithium Inc. is holding a Zacks Rank of #3 (Hold) right now.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 171, which puts it in the bottom 33% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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