Piedmont Lithium rises after posting smaller-than-expected Q3 loss

Piedmont Lithium

12/11/2024 14:08

** Miner Piedmont Lithium's  PLL.O  shares rise ~1% to
$12.26 premarket
    ** Co posts loss of 42 cents per share vs estimate of a loss
of 58 cents per share - LSEG data 
    ** Reports revenue of $27.6 mln vs estimate of ~$28.2 mln
    ** PLL cuts 2024 shipment forecast to between 102,000 and
116,000 dry metric tonnes from 126,000 dry metric tonnes
    ** PLL says in response to a customer request that it
"expects to shift a previously planned cargo from Q4 2024 to
early Q1 2025, and contemplating shifting a second shipment from
December 2024 to January 2025 to realize material transport cost
savings by combining this shipment with one from Sayona Quebec"
    ** "We expect these shifts to be accretive to our 2025
shipments totals," PLL says 
    ** Four of 9 brokerages rate the stock "buy", 3 "hold" and 2
"sell"; median PT is $10.5 - LSEG data
    ** Up to last close, PLL down 57% YTD

 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com))