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

·2 min read

Piedmont Lithium Inc. (PLL) closed at $62.08 in the latest trading session, marking a -0.88% move from the prior day. This change lagged the S&P 500's daily gain of 1.06%. Elsewhere, the Dow gained 0.71%, while the tech-heavy Nasdaq added 0.18%.

Heading into today, shares of the company had lost 6.1% over the past month, lagging the Basic Materials sector's gain of 2.82% and the S&P 500's loss of 1.14% in that time.

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

Investors might also notice recent changes to analyst estimates for Piedmont Lithium Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate 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 167, which puts it in the bottom 34% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

To follow PLL in the coming trading sessions, be sure to utilize Zacks.com.


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