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Piedmont Lithium Inc. (PLL) Gains As Market Dips: What You Should Know
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Piedmont Lithium Inc. (PLL - Free Report) closed the most recent trading day at $56.20, moving +1.85% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.15%. Elsewhere, the Dow lost 0.28%, while the tech-heavy Nasdaq added 3.16%.
Coming into today, shares of the company had lost 15.69% in the past month. In that same time, the Basic Materials sector lost 4.43%, while the S&P 500 lost 5.39%.
Wall Street will be looking for positivity from Piedmont Lithium Inc. as it approaches its next earnings report date.
Any recent changes to analyst estimates for Piedmont Lithium Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.13% lower within the past month. Piedmont Lithium Inc. is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Piedmont Lithium Inc. currently has a Forward P/E ratio of 21.11. This valuation marks a premium compared to its industry's average Forward P/E of 9.89.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 41% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Piedmont Lithium Inc. (PLL) Gains As Market Dips: What You Should Know
Piedmont Lithium Inc. (PLL - Free Report) closed the most recent trading day at $56.20, moving +1.85% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.15%. Elsewhere, the Dow lost 0.28%, while the tech-heavy Nasdaq added 3.16%.
Coming into today, shares of the company had lost 15.69% in the past month. In that same time, the Basic Materials sector lost 4.43%, while the S&P 500 lost 5.39%.
Wall Street will be looking for positivity from Piedmont Lithium Inc. as it approaches its next earnings report date.
Any recent changes to analyst estimates for Piedmont Lithium Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.13% lower within the past month. Piedmont Lithium Inc. is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Piedmont Lithium Inc. currently has a Forward P/E ratio of 21.11. This valuation marks a premium compared to its industry's average Forward P/E of 9.89.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 41% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.