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

Reuters
2024-11-12

** Miner Piedmont Lithium's 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))

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