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

Piedmont Lithium Inc. (PLL) closed at $55.36 in the latest trading session, marking a +0.53% move from the prior day. This move outpaced the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 10.47%.

Heading into today, shares of the company had lost 0.63% over the past month, lagging the Basic Materials sector's gain of 0.64% and the S&P 500's gain of 2.61% in that time.

Investors will be hoping for strength from Piedmont Lithium Inc. as it approaches its next earnings release. The company is expected to report EPS of -$0.44, up 22.81% from the prior-year quarter.

It is also important to note the 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.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 143.88% higher. Piedmont Lithium Inc. currently has a Zacks Rank of #1 (Strong Buy).

Digging into valuation, Piedmont Lithium Inc. currently has a Forward P/E ratio of 8.64. This valuation marks a discount compared to its industry's average Forward P/E of 9.07.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 35% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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Piedmont Lithium Inc. (PLL) : Free Stock Analysis Report

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