Raymond James Financial Services Advisors Inc. raised its position in Piedmont Lithium Inc. (NASDAQ:PLL) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,559 shares of the mineral exploration company’s stock after buying an additional 816 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.10% of Piedmont Lithium worth $847,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of Piedmont Lithium by 107.6% during the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 519 shares of the mineral exploration company’s stock valued at $28,000 after purchasing an additional 269 shares during the period. Citigroup Inc. raised its stake in shares of Piedmont Lithium by 208.0% during the 2nd quarter. Citigroup Inc. now owns 385 shares of the mineral exploration company’s stock valued at $30,000 after purchasing an additional 260 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Piedmont Lithium by 1,965.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 413 shares of the mineral exploration company’s stock valued at $32,000 after purchasing an additional 393 shares during the period. Legal & General Group Plc bought a new stake in shares of Piedmont Lithium during the 2nd quarter valued at $49,000. Finally, Creative Financial Designs Inc. ADV bought a new stake in shares of Piedmont Lithium during the 3rd quarter valued at $77,000. Hedge funds and other institutional investors own 16.16% of the company’s stock.
A number of analysts recently issued reports on PLL shares. Evercore ISI reiterated a “buy” rating and set a $95.00 price objective on shares of Piedmont Lithium in a research note on Thursday, November 25th. Loop Capital boosted their price objective on Piedmont Lithium from $86.00 to $108.00 and gave the company a “buy” rating in a research note on Monday, October 4th. Finally, Zacks Investment Research cut Piedmont Lithium from a “buy” rating to a “hold” rating in a research report on Thursday, December 16th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Piedmont Lithium currently has a consensus rating of “Buy” and an average price target of $86.44.
In related news, EVP Patrick Brindle sold 3,534 shares of the stock in a transaction dated Wednesday, December 22nd. The stock was sold at an average price of $52.76, for a total transaction of $186,453.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael D. White sold 1,744 shares of the stock in a transaction dated Tuesday, January 4th. The shares were sold at an average price of $54.18, for a total value of $94,489.92. The disclosure for this sale can be found here. Insiders sold a total of 8,990 shares of company stock valued at $478,592 over the last quarter. Company insiders own 4.50% of the company’s stock.
About Piedmont Lithium
Piedmont Lithium, Inc is an exploration stage company, which engages in the exploration and development of mineral properties. The firm focuses on developing and manufacturing battery quality lithium hydroxide for the electric vehicle industry. Its projects include Carolina Lithium, Quebec, and Ghana.
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