Piedmont Lithium Inc. (PLL) Stock Sinks As Market Gains: What You Should Know
Piedmont Lithium Inc. (PLL) closed at $22.77 in the latest trading session, marking a -1% move from the prior day. This move lagged the S&P 500's daily gain of 0.08%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq gained 0.02%.
Shares of the company witnessed a loss of 22.44% over the previous month, trailing the performance of the Basic Materials sector with its gain of 1.22% and the S&P 500's gain of 3.52%.
The investment community will be closely monitoring the performance of Piedmont Lithium Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at $1.03, signifying a 266.13% increase compared to the same quarter of the previous year.
Any recent changes to analyst estimates for Piedmont Lithium Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Piedmont Lithium Inc. boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Piedmont Lithium Inc. is at present trading with a Forward P/E ratio of 9.14. This signifies a discount in comparison to the average Forward P/E of 11.6 for its industry.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 154, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Piedmont Lithium Inc. (PLL) : Free Stock Analysis Report
