Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Piedmont Lithium Inc. (NASDAQ:PLL – Get Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 293,156 shares of the mineral exploration company’s stock, valued at approximately $21,398,000. Mirae Asset Global Investments Co. Ltd. owned about 1.63% of Piedmont Lithium at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in PLL. Captrust Financial Advisors boosted its holdings in Piedmont Lithium by 14.2% during the first quarter. Captrust Financial Advisors now owns 1,888 shares of the mineral exploration company’s stock worth $138,000 after purchasing an additional 235 shares during the last quarter. National Bank of Canada FI raised its position in Piedmont Lithium by 108.7% in the first quarter. National Bank of Canada FI now owns 480 shares of the mineral exploration company’s stock worth $35,000 after acquiring an additional 250 shares during the period. Citigroup Inc. raised its position in Piedmont Lithium by 112.3% in the first quarter. Citigroup Inc. now owns 620 shares of the mineral exploration company’s stock worth $45,000 after acquiring an additional 328 shares during the period. Geneos Wealth Management Inc. bought a new stake in Piedmont Lithium in the first quarter worth about $36,000. Finally, Fifth Third Bancorp bought a new stake in shares of Piedmont Lithium in the first quarter valued at approximately $50,000. 50.01% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Piedmont Lithium news, COO Patrick Brindle sold 4,491 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $66.97, for a total value of $300,762.27. Following the completion of the transaction, the chief operating officer now owns 37,957 shares of the company’s stock, valued at approximately $2,541,980.29. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Piedmont Lithium news, COO Patrick Brindle sold 4,491 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $66.97, for a total value of $300,762.27. Following the completion of the transaction, the chief operating officer now owns 37,957 shares of the company’s stock, valued at approximately $2,541,980.29. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey T. Armstrong purchased 2,500 shares of the business’s stock in a transaction on Wednesday, June 29th. The stock was bought at an average cost of $38.27 per share, with a total value of $95,675.00. Following the purchase, the director now owns 33,969 shares in the company, valued at $1,299,993.63. The disclosure for this purchase can be found here. 1.75% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several analysts have recently issued reports on PLL shares. Cowen started coverage on shares of Piedmont Lithium in a research report on Monday, May 23rd. They issued an “outperform” rating on the stock. Roth Capital reissued a “buy” rating on shares of Piedmont Lithium in a research report on Monday, September 5th. Finally, Cowen started coverage on shares of Piedmont Lithium in a research report on Monday, May 23rd. They issued an “outperform” rating and a $90.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $96.00.
Piedmont Lithium Stock Down 0.9 %
Piedmont Lithium stock opened at $59.55 on Friday. The firm’s 50 day simple moving average is $51.80 and its 200 day simple moving average is $57.28. Piedmont Lithium Inc. has a 1-year low of $32.08 and a 1-year high of $79.99.
Piedmont Lithium Profile
Piedmont Lithium Inc, an exploration stage company, engages in the exploration and development of resource projects in the United States. The company primarily holds a 100% interest in the Carolina Lithium Project that include an area of approximately 3,116 acres located within the Carolina Tin-Spodumene Belt situated to the west of Charlotte, North Carolina in the United States.
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