Piedmont Lithium Stock (NASDAQ:PLL), Trade Ideas

Piedmont Lithium

Pall

Pall Corporation

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Piedmont Lithium Inc, is a U.S. based, development-stage, multi-asset, integrated lithium business in support of a clean energy economy and U.S. and world-wide energy security. Its portfolio of wholly-owned projects includes Carolina Lithium, a proposed fully integrated spodumene ore-to-lithium hydroxide project in Gaston County, North Carolina, and Tennessee Lithium, a proposed merchant lithium hydroxide manufacturing plant in McMinn County, Tennessee.

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ATI Reports Q1 Earnings; Piedmont Lithium Boosts Production; Buenaventura Announces Q1 Results And More: Tuesday&#39;s Top Mining Stories

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Top Stories: Piedmont Lithium gets mining permit, Senators urge Biden to block Nippon Steel&#39;s acquisition of U.S. Steel, Ioneer progresses towards construction, IperionX enters titanium supply agreement. Benzinga Mining connects mining companies with retail investors.

Piedmont Receives A Mining Permit; Senators Against US Steel Deal; Ioneer Closer To Rhyolite Ridge Construction And More: Monday&#39;s Top Mining Stories

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Shares of  Ultragenyx Pharmaceutical Inc.  (NASDAQ: RARE) fell sharply during Monday’s session after the company revealed new data from the Phase 1/2 study of GTX-102 for Angelman syndrome, a genetic disorder causing developmental disabilities and nerve-related symptoms.

Why Ultragenyx Pharmaceutical Shares Are Trading Lower By Around 9%? Here Are Other Stocks Moving In Monday&#39;s Mid-Day Session

Piedmont Lithium Inc

GEMFIELDS GROUP LTD by Gemfields Group Ltd.

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PLATA LATINA MINERALS CRP by Plata Latina Minerals Corp

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Piedmont Lithium Inc Chess Depository Interest

PALLADON VENTURES LTD NEW by Palladon Ventures Ltd.

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ATI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATI#NYSE">ATI</a>): The Dallas-based company <a href="https://www.benzinga.com/news/earnings/24/04/38515910/ati-q1-adj-0-48-beats-0-41-estimate-sales-1-04b-beat-1-03b-estimate">reported first-quarter (Q1)</a> revenue of $1.04 billion in 2024. Net income hovered at around $66 million (or 46 cents per share). 
<ul>
<li>Aerospace and defense sales rose to $616 million, driving a 7% year-over-year growth.&nbsp;</li>
<li>Adjusted net income was $68.4 million (48 cents per share), with adjusted EBITDA at $151 million, or 14.5% of sales.&nbsp;</li>
<li>The company highlighted strong demand for specialty alloys and significant improvements in cash flow in addition to completing $150 million in share repurchases.</li>
</ul>
Piedmont Lithium (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>): The North Carolina-based company announced Q1 2024 shipments of about 15,500 dry metric tons (dmt) of spodumene concentrate. Piedmont also has a record quarterly production of 40,439 dmt at North American Lithium; it set a monthly record of 15,699 dmt in March. 
<ul>
<li>The company is targeting full-year shipments of approximately 126,000 dmt, predominantly in the second half of 2024 as it ramps up to full production.&nbsp;</li>
<li>Piedmont is aiming to focus on contract customers to minimize dependence on the fluctuating spot market.</li>
</ul>
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/news/large-cap/24/04/38500350/first-quantum-minerals-closes-ravensthorpe-nickel-mine-cuts-330-jobs">First Quantum Minerals Closes Ravensthorpe Nickel Mine, Cuts 330 Jobs</a>
Buenaventura (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BVN#NYSE">BVN</a>): Peru&#8217;s largest publicly-traded precious metals mining company reported an EBITDA of $94.4 million. That&#8217;s up from $51.6 million in Q1 2023. 
<ul>
<li>Net income of $67.1 million, slightly down from $72.8 million. </li>
<li>The company&#8217;s cash position stood at $174 million, with a net debt of $525.3 million, resulting in a leverage ratio of 1.87x. </li>
<li>Key developments included receiving the final operating permit for the Yumpag mine, anticipated to produce 6.5 to 7.2 million silver ounces in 2024, and $29.4 million in dividends from Cerro Verde.&nbsp;</li>
<li>Q1 CAPEX for the San Gabriel project was $38.4 million.</li>
</ul>
American Battery Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>): Scott Smith, a former Tesla executive, is now at American Battery Technology. 
<ul>
<li>American Battery named Smith vice president of financial planning and analysis to support the company&#8217;s strategic growth and lead investor relations. </li>
<li>Smith was the former Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) head of financial planning and analysis in Europe and recently moved from Berlin to the Reno headquarters.</li>
<li>He brings extensive experience in financial operations and market expansions, crucial to the company's expanding recycling and lithium manufacturing operations.</li>
</ul>
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/m-a/24/04/38469869/elliott-managements-1b-anglo-american-stake-ups-ante-as-mining-megamerger-collapses">Elliott Management&#8217;s $1 Billion Anglo American Stake Ups Ante As Mining Megamerger Collapses</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!

ATI Reports Q1 Earnings; Piedmont Lithium Boosts Production; Buenaventura Announces Q1 Results And More: Tuesday's Top Mining Stories

General

Piedmont Lithium Shipped Approximately 15,500 dmt Of Spodumene Concentrate In Q1'24

DA Davidson analyst Matt Summerville maintains Piedmont Lithium (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>) with a Buy and maintains $60 price target.

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DA Davidson Maintains Buy on Piedmont Lithium, Maintains $60 Price Target

Top Stories for April 15, 2024:
1. Piedmont Lithium (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>) received approval from the North Carolina Department of Environmental Quality for a mining permit for its <a href="https://www.benzinga.com/wiim/24/04/38245557/piedmont-lithium-shares-are-trading-higher-after-the-company-announced-that-it-received-mining-permi">Carolina Lithium project</a> in Gaston County. 
This permit, issued after a detailed review since August 2021, enables the construction, operation and reclamation of the site.&nbsp;
Piedmont&#8217;s CEO Keith Phillips highlighted the project&#8217;s potential as a low-cost, sustainable lithium operation crucial to the U.S. electric vehicle supply chain, expected to significantly boost Gaston County&#8217;s economy and create hundreds of jobs.
2. Two steel-state Democratic senators from Ohio and Pennsylvania are urging President Joe Biden to block Nippon Steel&#8217;s acquisition of U.S. Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), citing national security and job concerns. 
Biden has publicly opposed the deal, emphasizing that the company should remain American-owned, and is putting the deal through a secretive national security review.&nbsp;
The transaction also faces an extended antitrust probe from the Justice Department, potentially delaying its completion.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/news/24/04/38220578/canada-nickel-ramps-up-ontarios-crawford-project-we-are-confidently-moving-into-this-next-phase">Canada Nickel Ramps Up Ontario&#8217;s Crawford Project: &#8216;We Are Confidently Moving Into This Next Phase&#8217;</a>
3. Ioneer (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IONR#NASDAQ">IONR</a>) progresses toward construction at its Rhyolite Ridge Lithium-Boron site with the Bureau of Land Management&#8217;s upcoming release of a draft Environmental Impact Statement, marking a major milestone in the project's environmental review. 
This document is pivotal for advancing U.S. lithium production and includes measures to protect the endangered Tiehm&#8217;s buckwheat.&nbsp;
Public comment on the draft will begin on April 19, followed by a final review and decision expected by October 2024.&nbsp;
If approved, construction will start post-final investment decision, with production anticipated in 2027.
4. IperionX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPX#NASDAQ">IPX</a>) entered a framework agreement with United Stars Holdings to potentially supply up to 80 metric tons of titanium products annually for 10 years. 
These products will serve the defense and advanced technology sectors, featuring uses in vehicle drivetrains, robotic motors and wind turbines.&nbsp;
IperionX is developing a comprehensive American titanium supply chain, incorporating U.S.-sourced titanium minerals, advanced refining technologies and extensive recycling capabilities to produce cost-effective, high-performance titanium alloys.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/news/24/04/38248505/us-uk-clamp-down-on-russian-metals-trade-due-to-its-brutal-ward-against-ukraine">US, UK Clamp Down On Russian Metals Trade Due To &#8216;Its Brutal War Against Ukraine&#8217;</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
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Piedmont Receives A Mining Permit; Senators Against US Steel Deal; Ioneer Closer To Rhyolite Ridge Construction And More: Monday's Top Mining Stories

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rare#NASDAQ">RARE</a>) fell sharply during Monday&rsquo;s session after the company revealed new data from the Phase 1/2 study of GTX-102 for Angelman syndrome, a genetic disorder causing developmental disabilities and nerve-related symptoms.
Ultragenyx Pharmaceutical shares dipped 9.4% to $42.46 on Monday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Soligenix, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sngx#NASDAQ">SNGX</a>) shares surged 71.5% to $0.6679 after the company announced that it was granted orphan drug designation to the active ingredient in MarVax for the prevention and post-exposure prophylaxis against MARV infection by the FDA.</li>
<li>Longeveron Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lgvn#NASDAQ">LGVN</a>) surged 54% to $2.6350 following insider buys from multiple company executives.</li>
<li>SuperCom Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/spcb#NASDAQ">SPCB</a>) shares gained 39.4% to $0.3849 after jumping around 18% on Friday.</li>
<li>Piedmont Lithium Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pll#NYSE">PLL</a>) shares gained 32.1% to $16.75 following a 5% decline on Friday.</li>
<li>Snap One Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/snpo#NASDAQ">SNPO</a>) surged 31.6% to $10.71 after the company announced that it will be acquired by Resideo Technologies.</li>
<li>Organovo Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/onvo#NASDAQ">ONVO</a>) shares surged 30.9% to $1.32 after the company announced Phase 2 results for FXR314. Study results demonstrated statistically significant reduction in liver fat content from baseline in patients receiving FXR314 compared to placebo.</li>
<li>Kuke Music Holding Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kuke#NASDAQ">KUKE</a>) jumped 27% to $2.7650.</li>
<li>HUB Cyber Security Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hubc#NASDAQ">HUBC</a>) gained 24% to $1.61 after gaining over 11% on Friday.</li>
<li>Edgio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/egio#NASDAQ">EGIO</a>) gained 24% to $22.18.</li>
<li>Kaival Brands Innovations Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kavl#NASDAQ">KAVL</a>) surged 23.6% to $3.30.</li>
<li>Envoy Medical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coch#NASDAQ">COCH</a>) gained 22.6% to $6.19.</li>
<li>Medical Properties Trust, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mpw#NYSE">MPW</a>) rose 19.9% to $4.7850 after the company announced that it sold its majority interest in Utah Hospitals.</li>
<li>CareMax, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cmax#NASDAQ">CMAX</a>) climbed 19.5% to $3.78.</li>
<li>SES AI Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ses#NYSE">SES</a>) surged 18.7% to $1.77.</li>
<li>Mobile-health Network Solutions (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mndr#NASDAQ">MNDR</a>) gained 17.7% to $17.67.</li>
<li>Adial Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adil#NASDAQ">ADIL</a>) rose 16.7% to $2.72.</li>
<li>ProKidney Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prok#NASDAQ">PROK</a>) gained 16.7% to $2.0426.</li>
<li>Biotricity, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/btcy#NASDAQ">BTCY</a>) rose 16.5% to $1.34.</li>
<li>Yatsen Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ysg#NYSE">YSG</a>) gained 13.3% to $3.41.</li>
<li>Destiny Tech100 Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dxyz#NASDAQ">DXYZ</a>) shares gained 12.8% to $32.71 after dipping 42% on Friday.</li>
<li>Encore Wire Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wire#NASDAQ">WIRE</a>) surged 11.7% to $291.60 after the company entered an agreement to be acquired by Prysmian for $290 per share in cash.</li>
<li>Century Aluminum Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cenx#NASDAQ">CENX</a>) gained 9.5% to $18.05.</li>
<li>Extreme Networks, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/extr#NASDAQ">EXTR</a>) gained 5.7% to $11.31. B. Riley Securities analyst Dave Kang upgraded Extreme Networks from Neutral to Buy and maintained a $14 price target.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Marinus Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrns#NASDAQ">MRNS</a>) shares dipped 77% to $1.6800 after the company provided an update on the Phase 3 RAISE trial and reported preliminary Q1 financial results.</li>
<li>Swvl Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/swvl#NASDAQ">SWVL</a>) fell 35% to $8.58.</li>
<li>VIA optronics AG (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/viao#NASDAQ">VIAO</a>) dipped 34% to $0.2765.</li>
<li>Veru Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/veru#NASDAQ">VERU</a>) fell 24% to $1.1550. Oppenheimer analyst Leland Gershell reiterated Veru with an Outperform and lowered the price target from $7 to $5.</li>
<li>Rent the Runway, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rent#NASDAQ">RENT</a>) dipped 19.8% to $15.42.</li>
<li>NextPlat Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxpl#NASDAQ">NXPL</a>) fell 19.8% to $1.50 after jumping 24% on Friday. The company entered into a definitive business combination agreement with its majority-owned subsidiary Progressive Care Inc.</li>
<li>Cyngn Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cyn#NASDAQ">CYN</a>) shares fell 19.1% to $0.1170 after declining around 7% on Friday.</li>
<li>ProMIS Neurosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pmn#NASDAQ">PMN</a>) fell 15.6% to $1.95.</li>
<li>Biohaven Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bhvn#NASDAQ">BHVN</a>) dipped 15.4% to $44.90. Biohaven showcased innovative neuroscience portfolio with 20 presentations at the 2024 AAN Annual Meeting.</li>
<li>Neumora Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nmra#NASDAQ">NMRA</a>) shares declined 15.1% to $11.48 after the FDA placed a clinical hold on the company&#39;s Phase 1 NMRA-266 study.</li>
<li>Alterity Therapeutics Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/athe#NASDAQ">ATHE</a>) dipped 15% to $2.49.</li>
<li>Surf Air Mobility Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/srfm#NASDAQ">SRFM</a>) fell 15% to $0.53.</li>
<li>IM Cannabis Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/imcc#NASDAQ">IMCC</a>) fell 14.2% to $0.5399.</li>
<li>Polestar Automotive Holding Uk Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/psny#NASDAQ">PSNY</a>) fell 12.7% to $1.2699. On Friday, Cantor Fitzgerald analyst Andres Sheppard reiterated Polestar Automotive with an Overweight and maintained a $5 price target.</li>
<li>Desktop Metal, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dm#NYSE">DM</a>) fell 10.8% to $0.8510.</li>
<li>Local Bounti Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/locl#NYSE">LOCL</a>) declined 10.2% to $2.1550.</li>
<li>Q32 Bio Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qttb#NASDAQ">QTTB</a>) fell 10% to $26.00.</li>
<li>SunPower Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/spwr#NASDAQ">SPWR</a>) fell 8.3% to $2.2750.</li>
<li>Informatica Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/infa#NASDAQ">INFA</a>) dipped 8.1% to $35.36 amid increased volatility following reports suggesting Salesforce is in talks to buy the company.</li>
<li>TRACON Pharmaceuticals Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tcon#NASDAQ">TCON</a>) declined 8.1% to $2.1699 after falling around 9% on Friday.</li>
<li>NOVONIX Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nvx#NYSE">NVX</a>) declined 7.2% to $2.63.</li>
<li>AudioEye, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aeye#NASDAQ">AEYE</a>) fell 6.6% to $12.86 after declining around 7% on Friday.</li>
<li>OncoCyte Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ocx#NASDAQ">OCX</a>) fell 6.6% to $2.5301. Oncocyte announced a transplant assay partnership agreement with Bio-Rad laboratories.</li>
<li>BlackBerry Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bb#NYSE">BB</a>) fell 6.1% to $2.8650.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/04/38249138/dow-jumps-over-300-points-goldman-sachs-posts-upbeat-earnings"> Dow Jumps Over 300 Points; Goldman Sachs Posts Upbeat Earnings</a>

Why Ultragenyx Pharmaceutical Shares Are Trading Lower By Around 9%? Here Are Other Stocks Moving In Monday's Mid-Day Session

Piedmont Lithium Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>) shares are trading higher after it announced that it received mining permit approval for the construction, operation, and reclamation of the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38244622/piedmont-lithium-receives-mining-permit-approval-for-carolina-lithium" rel="noreferrer noopener">proposed Carolina Lithium project</a>.
In particular, the company disclosed that the North Carolina Department of Environmental Quality&#8217;s (NCDEQ) Division of Energy, Mineral, and Land Resources (DEMLR) issued an approval of the mining permit for the construction, operation, and reclamation of the proposed Carolina Lithium project in Gaston County, North Carolina.&nbsp;
The project is located within both the Carolina Tin-Spodumene Belt and the U.S. Battery Belt and is being designed as a fully integrated mining, spodumene concentrate, and lithium hydroxide manufacturing operation.&nbsp;
DEMLR provided the permit approval following a thorough review of the application submitted by Piedmont on August 30, 2021.&nbsp;
Keith Phillips, President and CEO, said, &#8220;We plan to develop Carolina Lithium as one of the lowest-cost, most sustainable lithium hydroxide operations in the world, and as a critical part of the American electric vehicle supply chain. The Project is expected to contribute billions of dollars of economic output and several hundred jobs to Gaston County and North Carolina&#8217;s growing electrification economy.&#8221;
&#8220;Technical studies have demonstrated that Carolina Lithium could be a low-cost producer of spodumene concentrate and lithium hydroxide, benefitting from exceptional infrastructure, minimal transportation distances, low energy costs, a deep local talent pool, and proximity to cathode and battery customers as well as local markets for the monetization of by-product industrial minerals.&#8221;&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/23/08/33894288/piedmont-reveals-development-funding-for-ewoyaa-lithium-project" rel="noreferrer noopener">Piedmont Reveals Development Funding For Ewoyaa Lithium Project</a>
&#8220;The Project is further advantaged by the competitive corporate tax regime offered in the United States, the absence of significant royalties, and the benefits inherent in the Inflation Reduction Act of 2022.&#8221;
Investors can gain exposure to the stock via&nbsp;IShares Lithium Miners And Producers ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILIT#NASDAQ">ILIT</a>) and&nbsp;SPDR S&amp;P Metals &amp; Mining ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>).
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/commodities/24/04/38173771/piedmont-advances-nal-operations-royal-gold-subsidiary-sells-49-500-geos-hecla-mining-reports" rel="noreferrer noopener">Piedmont Advances NAL Operations; Royal Gold Subsidiary Sells 49,500 GEOs; Hecla Mining Reports Q1 Production And More: Tuesday&#8217;s Top Mining Stories</a>
Price Action: PLL shares are up 21.8% at $15.45 on the last check Monday.
Photo via Shutterstock

Equities

ILIT

Why Piedmont Lithium Shares Are Surging Today

WIIM

Piedmont Lithium shares are trading higher after the company announced that it received mining permit approval for the construction, operation and reclamation of the proposed Carolina Lithium project.

Piedmont Lithium (&quot;Piedmont&quot; or the &quot;Company&quot;) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>, ASX: PLL)))),&nbsp;a leading North American supplier of lithium products critical to the U.S. electric vehicle supply chain, today announced that the North Carolina Department of Environmental Quality&#39;s (&quot;NCDEQ&quot;) Division of Energy, Mineral, and Land Resources (&quot;DEMLR&quot;) has issued an approval of our mining permit for the construction, operation, and reclamation of the proposed Carolina Lithium project (the &quot;Project&quot;) in Gaston County, North Carolina. DEMLR provided the permit approval following a thorough review of the application submitted by Piedmont on August 30, 2021. The mining permit is subject to conditions both customary and specific to our type of project.

Government

Regulations

Piedmont Lithium Wins Mining Permit Approval for Carolina Lithium

Shares of Medical Properties Trust, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mpw#NYSE">MPW</a>) rose sharply in today&rsquo;s pre-market trading after the company announced that it sold its majority <a href="https://www.benzinga.com/quote/MPW/news">interest in Utah Hospitals</a>.
Medical Properties Trust shares jumped 13.1% to $4.51 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3>Gainers</h3>
<ul>
<li>Allarity Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/allr#NASDAQ">ALLR</a>) shares rose 51% to $3.17 in pre-market trading after dipping 9% on Friday. Allarity Therapeutics filed prospectus supplement to increase offering price of common stock that may be offered from $2.35 million to $3.2 million.</li>
<li>Longeveron Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lgvn#NASDAQ">LGVN</a>) gained 38.4% to $2.34 in pre-market trading after falling 16% on Friday. Longeveron, last week, announced closing of $5.2 million public offering.</li>
<li>SuperCom Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/spcb#NASDAQ">SPCB</a>) shares gained 34.8% to $0.3722 in pre-market trading after jumping around 18% on Friday.</li>
<li>HUB Cyber Security Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hubc#NASDAQ">HUBC</a>) climbed 29.2% to $1.68 in pre-market trading after gaining over 11% on Friday.</li>
<li>Piedmont Lithium Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pll#NYSE">PLL</a>) shares gained 22.2% to $15.49 in pre-market trading following a 5% decline on Friday.</li>
<li>Marine Petroleum Trust (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/marps#NASDAQ">MARPS</a>) gained 12.3% to $6.04 in pre-market trading after jumping 18% on Friday.</li>
<li>Destiny Tech100 Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dxyz#NASDAQ">DXYZ</a>) shares gained 11.4% to $32.31 in pre-market trading after dipping 42% on Friday.</li>
<li>Kineta, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ka#NASDAQ">KA</a>) shares rose 8.7% to $0.3989 in pre-market trading after falling 17% on Friday.</li>
<li>LendingClub Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lc#NYSE">LC</a>) shares gained 8.7% to $8.79 in pre-market trading. LendingClub is expected to report earnings for the first quarter 2024 after the closing bell on Tuesday, April 30, 2024.</li>
</ul>
<h3>
Losers</h3>
<ul>
<li>AudioEye, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aeye#NASDAQ">AEYE</a>) fell 24.1% to $10.45 in pre-market trading after declining around 7% on Friday.</li>
<li>NextPlat Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxpl#NASDAQ">NXPL</a>) fell 19.8% to $1.50 in pre-market trading after jumping 24% on Friday. The company entered into a definitive business combination agreement with its majority-owned subsidiary Progressive Care Inc.</li>
<li>Organovo Holdings Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/onvo#NASDAQ">ONVO</a>) shares declined 15.8% to $0.85 in pre-market trading.</li>
<li>TRACON Pharmaceuticals Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tcon#NASDAQ">TCON</a>) declined 15.3% to $2.00 in pre-market trading after falling around 9% on Friday.</li>
<li>IM Cannabis Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/imcc#NASDAQ">IMCC</a>) fell 14.2% to $0.54 in pre-market trading.</li>
<li>OncoCyte Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ocx#NASDAQ">OCX</a>) fell 14.1% to $2.33 pre-market trading. Oncocyte announced a transplant assay partnership agreement with Bio-Rad laboratories</li>
<li>&nbsp;</li>
<li>Cyngn Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cyn#NASDAQ">CYN</a>) shares fell 13.6% to $0.12 in pre-market trading after declining around 7% on Friday.</li>
<li>SINTX Technologies Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sint#NASDAQ">SINT</a>) fell 12.6% to $0.021 in pre-market trading after declining around 4% on Friday.</li>
<li>&nbsp;</li>
<li>Biophytis SA (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bpts#NASDAQ">BPTS</a>) shares fell 7.4% to $0.31 in pre-market trading.</li>
<li>Polestar Automotive Holding Uk Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/psny#NASDAQ">PSNY</a>) fell 7.2% to $1.35 pre-market trading. On Friday, Cantor Fitzgerald analyst Andres Sheppard reiterated Polestar Automotive with an Overweight and maintained a $5 price target.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/04/38242305/goldman-sachs-likely-to-report-lower-q1-earnings-here-are-the-recent-forecast-changes-from-wall-str"> Goldman Sachs Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street&#39;s Most Accurate Analysts</a>

Pre-Market Outlook

ALLR

BPTS

MARPS

SINT

Why Medical Properties Trust Shares Are Trading Higher By Around 13%; Here Are 20 Stocks Moving Premarket

Top Stories for April 9, 2024:
1. Piedmont Lithium (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>), a major supplier to the U.S. EV supply chain, and its joint venture partner Sayona Mining are advancing North American Lithium&#8217;s operations to achieve <a href="https://www.benzinga.com/news/24/04/38157048/piedmont-lithium-says-the-joint-venture-partners-of-north-american-lithium-nal-will-complete-activit">steady state production</a> by 2024. 
After starting production in March 2023, they&#8217;ve seen improved process recoveries and production records, with a key focus on ramping up production and reducing costs amidst a challenging lithium market.&nbsp;
Two significant capital projects due to be finished by May 2024 are expected to further enhance production and efficiency.&nbsp;
Piedmont, which owns 25% of the venture, emphasizes North American Lithium&#8217;s strategic importance and its positive trajectory despite market challenges.
2. Royal Gold (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGLD#NASDAQ">RGLD</a>) reported that its subsidiary RGLD Gold AG sold around 49,500 gold equivalent ounces (GEO) from its streaming agreements in Q1 2024.
The GEOs consist of 38,100 ounces of gold, 635,000 ounces of silver and 1,100 tons of copper.&nbsp;
The average realized prices for these metals were $2,054 per ounce, $23.22 per ounce and $8,453 per ton ($3.83 per pound), respectively.
The cost of sales was roughly $436 per GEO. Royal Gold will release its full Q1 results after market close on May 8, 2024.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/news/24/04/38149136/fortuna-silver-mines-highlights-strong-q1-gold-silver-production-amid-precious-metal-surge">Fortuna Silver Mines Highlights Strong Q1 Gold, Silver Production Amid Precious Metal Surge</a>
3. Hecla Mining (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HL#NASDAQ">HL</a>) reported a significant increase in Q1 2024 production, with silver output rising 43% to 4.2 million ounces and gold production steady at 36,592 ounces. 
The increases were attributed to Greens Creek&#8217;s consistent performance, Lucky Friday reaching full production of 1.1 million ounces of silver and a 29% throughput increase at Keno Hill. 
Lead and zinc production also saw notable rises due to the ramp-up at Lucky Friday, increasing 129% and 28%, respectively.&nbsp;
The company is aiming for 17 million ounces of silver in 2024 and 20 million by 2026, capitalizing on the growing demand for silver in energy transitions, particularly in solar energy.
4. Coeur Mining (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>) announced the start of commercial production at its expanded Rochester mine in Nevada as of March 31, 2024. 
The mine&#8217;s new crushing circuit and truck load-out facility have reached average throughput of nearly 70,000 tons per day, with full capacity of 88,000 tons per day expected by mid-2024.
A total of 9.3 million tons of ore have been placed on the new leach pad and a ramp-up in production is forecasted for the latter half of 2024, positioning Rochester to significantly enhance Coeur&#8217;s cash flow as one of the largest heap leach operations globally and the largest domestic silver source in the U.S.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/economics/macro-economic-events/24/04/38143157/mining-executives-weigh-in-on-gold-price-financing-projects-were-definitely-glad">Mining Executives Weigh In On Gold Prices, Financing, Projects: &#8216;We&#8217;re Definitely Glad&#8217;</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
Photo: Shutterstock

RGLD

Piedmont Advances NAL Operations; Royal Gold Subsidiary Sells 49,500 GEOs; Hecla Mining Reports Q1 Production And More: Tuesday's Top Mining Stories

Piedmont Lithium Says The Joint Venture Partners Of North American Lithium (NAL) Will Complete Activities To Achieve Steady State Production Within 2024

Piedmont Lithium's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NYSE">PLL</a>) short percent of float has risen 6.97% since its last report. The company recently reported that it has 3.15 million shares sold short, which is 16.57% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.4 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Piedmont Lithium Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1710963017_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Piedmont Lithium has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Piedmont Lithium's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Piedmont Lithium's peer group average for short interest as a percentage of float is 6.56%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About Piedmont Lithium?

Top Stories for March 18, 2024:
1. BHP Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) reportedly cut about a quarter of its contractor workforce (around 100 people) at its <a href="https://www.benzinga.com/news/24/03/37777463/bhp-scales-back-contractor-workforce-reportedly-trimmed-at-west-musgrave-project-in-western-australi">West Musgrave project</a> in Western Australia. 
This decision comes amid considerations to freeze its nickel division due to falling prices and is part of BHP&#8217;s ongoing review of the mine&#8217;s development timeline and capital spending.
The company has recently faced challenges in the nickel sector, including a $2.5 billion non-cash impairment charge related to the division. 
The project, previously owned by Oz Minerals, was projected to cost $1.12 billion and start production by the second half of 2025.&nbsp;
CEO Mike Henry emphasized the company&#8217;s focus on resolving these ongoing issues while acknowledging the challenges of winding down operations.
2. United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) forecasts first-quarter earnings per share of 80 cents to 84 cents and adjusted EBITDA around $425 <a href="https://www.ussteel.com/newsroom/-/blogs/united-states-steel-corporation-provides-first-quarter-2024-guidance?_com_liferay_blogs_web_portlet_BlogsPortlet_redirect=https%3A%2F%2Fwww.ussteel.com%3A443%2Fnewsroom%3Fp_p_id%3Dcom_liferay_blogs_web_portlet_BlogsPortlet%26p_p_lifecycle%3D0%26p_p_state%3Dnormal%26p_p_mode%3Dview%26_com_liferay_blogs_web_portlet_BlogsPortlet_cur%3D1%26_com_liferay_blogs_web_portlet_BlogsPortlet_delta%3D20">million</a>. 
CEO David B. Burritt highlighted strong steel demand and a focus on customer satisfaction as key factors in this performance, which aligns with previous expectations. 
The company sees balanced markets in its North American flat-rolled steel segment and improved results from higher spot orders in the Mini Mill segment.&nbsp;
Europe is expected to perform better due to commercial and energy advantages and cost management, despite challenges in the tubular segment from softer demand and price pressures.&nbsp;
U.S. Steel is progressing with strategic investments, including $20 million of anticipated construction costs for the upcoming Big River Steel dual coating line and a new mini mill.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/news/earnings/24/03/37760503/cleveland-cliffs-considers-bid-for-us-steel-tredegar-and-radius-recycling-report-financial-results-">&#8216;Cliffs CEO Weighs Lowball Bid For U.S. Steel With Union Backing&#8217; &#8211; Bloomberg News</a>
3. Buenaventura (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BVN#NYSE">BVN</a>) Peru&#8217;s largest publicly-traded precious metals miner, received the final operating permit from the Peruvian Ministry of Energy and Mines for its Yumpag mine. 
This permit allows Yumpag to start production at a rate of 1,000 tons per day, aiming for a 2024 production target of 6.5 million to 7.2 million ounces of silver. 
CEO Leandro Garcia highlighted this as a significant achievement, showcasing the company&#8217;s efficiency in timely project and regulatory management.&nbsp;
Garcia also emphasized Yumpag&#8217;s potential in contributing to Buenaventura&#8217;s growth and commitment to responsible resource management.
4. Piedmont Lithium (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>) appointed Dawne Hickton to its Board of Directors effective March 14, 2024. 
Chairman Jeff Armstrong said Hickton is known for her leadership in aerospace, energy and metals, and will bring valuable manufacturing expertise to Piedmont.
5. BofA Securities analyst Lawson Winder maintained Alcoa Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) with a Neutral and raised <a href="https://www.benzinga.com/quote/AA/analyst-ratings">his price target</a> from $31 to $32. 
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/markets/equities/24/03/37611427/alcoa-seals-2-2b-deal-to-acquire-alumina-limited-amplifying-market-presence">Alcoa Seals $2.2B Deal To Acquire Alumina Limited, Amplifying Market Presence</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
Image created using artificial intelligence with Midjourney.

Earnings

BHP Cuts Workforce; US Steel Issues Q1 Guidance; Buenaventura Get Operating Permit And More: Monday's Top Mining Stories

Top Stories for Feb. 23, 2024:
1. BTIG analyst Gregory Lewis downgraded Piedmont Lithium (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pll#NASDAQ">PLL</a>) <a href="https://www.benzinga.com/quote/PLL/analyst-ratings">from Buy to Neutral</a> following its fourth-quarter and full-year 2023 financial results.
Piedmont Lithium&#39;s 2023 results included $39.8 million in revenue from 43.2k dry metric tons of spodumene concentrate sales, $5.7 million gross profit and a ramp-up at NAL with cost and production improvements anticipated in 2024.
Shipments are expected to transition to multi-year contracts and it is advancing permits in Ghana and North Carolina.
Piedmont ended 2023 with $71.7 million cash and $49.1 million from Q1 2024 share sales of Sayona Mining (ASX: SYA).
2. The Board of Directors of ATI Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ati#NYSE">ATI</a>) elected Chief Operating Officer Kimberly A. Fields as President and CEO, effective July 1, 2024.
Former CEO Robert S. Wetherbee commented, &ldquo;ATI is well-positioned, on a clear path to $5 billion in revenue and $1 billion in EBITDA by 2027. We have the capabilities, and the team is aligned to deliver.... Kim is ready to lead this organization. Her demonstrated operational and commercial success makes her proven to perform. As ATI&#39;s next CEO, Kim will further accelerate our growth and value creation.&quot;
3. SunCoke Energy, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sxc#NYSE">SXC</a>) announced the upcoming retirement of CEO Michael G. Rippey on May 15, 2024.
Katherine T. Gates will replace him as CEO, while retaining her role as president and continuing as a Board member. Post-retirement, Rippey will serve as an advisor to the company.
4. Olympic Steel (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zeus#NASDAQ">ZEUS</a>) announced fourth-quarter and full-year 2023 financial results.
The company&rsquo;s Pipe and Tube segment reported its second most profitable year and it increased its quarterly dividend by 20% from $0.125 to $0.15 per share.
Fourth-quarter net income was $7.4 million ($0.64 per share) with $16.7 million adjusted EBITDA and $489 million in sales.
Full-year net income stood at $44.5 million ($3.85 per share), with $97.6 million adjusted EBITDA and $2.2 billion in sales, including $8.3 million LIFO pre-tax income and $5.7 million in acquisition charges. This compares to the previous year&#39;s $90.9 million net income, $152 million adjusted EBITDA and $2.6 billion in sales.
Chief Executive Officer Richard T. Marabito commented, &quot;For the second year in a row, we withstood a hot-rolled carbon steel index pricing decline of more than 45% during the year&hellip;. Our Pipe and Tube business delivered its second most profitable year ever, and our Carbon business showed its resiliency in navigating the pricing pressures of 2023. While Specialty Metals faced industry-wide stainless steel pricing headwinds, this segment contributed consistent positive EBITDA for both the fourth quarter and the full year.&quot;
Now Read:&nbsp;<a href="https://www.benzinga.com/top-stories/24/02/37291215/fed-officials-confident-inflation-is-easing-but-want-more-evidence-before-cutting-rates">Fed Officials Confident Inflation Is Easing, But Want More Evidence Before Cutting Rates</a>
Photo: Shutterstock

ZEUS

Analyst Downgrades Piedmont Lithium; ATI Names New CEO; SunCoke CEO Retires; Olympic Steel Releases Q4, Annual Results: Friday's Top Mining Stories

BTIG analyst Gregory Lewis downgrades Piedmont Lithium (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>) from Buy to Neutral.

Downgrades

BTIG Downgrades Piedmont Lithium to Neutral

Piedmont Lithium (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>) reported quarterly losses of $(1.23) per share which missed the analyst consensus estimate of $0.45 by 373.33 percent. The company reported quarterly sales of $(7.31 million) which missed the analyst consensus estimate of $29.84 million by 124.50 percent. This is a 116.77 percent decrease over sales of $43.60 million the same period last year.

Earnings Misses

Piedmont Lithium Q4 2023 Adj EPS $(1.23) Misses $0.45 Estimate, Sales $(7.31M) Miss $29.84M Estimate

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XPEL

Earnings Scheduled For February 22, 2024

Top Stories for Feb. 21, 2024:
1. Nucor Corporation&rsquo;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nue#NYSE">NUE</a>) board approved $860 million in funding to build its fourth and largest rebar micro mill in the Pacific Northwest, with a capacity of 650,000 tons per year, 50% larger than <a href="https://www.benzinga.com/topic/mining">their North Carolina project.</a>
The location is under evaluation, and the construction, pending regulatory approvals, is expected to take two years.
President and Chief Executive Officer Leon Topalian commented, &ldquo;The rebar we produce at our Nucor micro mills is made from nearly 100 percent recycled scrap, making it some of the cleanest steel made anywhere in the world.... This new rebar micro mill in the Pacific Northwest will help Nucor maintain its leadership in the steel bar market and further execute our strategy to better serve our customers west of the Rocky Mountains, which also includes the addition of a melt shop at our Arizona bar mill.&quot;
2. Gatos Silver (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gato#NYSE">GATO</a>) announced fourth-quarter and full-year 2023 financial results.
LGJV 2023 Results: The Cerro Los Gatos mine&#39;s lifespan extended to the end of 2030 and increased silver production by 46%. Despite processing more material, costs rose only 4%, with significant cash from operations and free cash flow, maintaining a low adjusted all-in-sustaining cost (AISC) per silver ounce.
LGJV Q4 2023 vs. Q4 2022: Revenue fell 21% to $73.5 million, net income declined 16% to $24.9 million and cost of sales rose 10% to $28 million. Meanwhile, sustaining capital decreased 40% to $11.7 million, and by-product AISC per ounce of payable silver was down 8% to $11.12, with free cash flow increasing 19% to $22.3 million.
Gatos Silver 2023 Results: Reported net income of $12.9 million ($0.18 per diluted share) and received $59.5 million of capital distribution from LGJV, ending the year with $55.5 million in cash and no debt.
Gatos Silver Q4 2023 vs. Q4 2022: Saw a 160% increase in net income to $12.3 million, 157% increase in earnings per share ($0.18), and a 116% rise in EBITDA to $11.8 million. Despite a shift from operating cash inflow to a slight cash use in operations, free cash flow was up 277% to $22 million.
3. Dakota Gold Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dc#NYSE">DC</a>) announced successful assays from 12 drill holes at the Richmond Hill Gold Project in South Dakota, revealing expanded mineralization in new areas and confirming significant mineral blocks in the north Richmond Hill Breccia Pipe and MW3 Zone, including a high-grade zone near the surface.
Drilling at Richmond Hill Gold Project&#39;s Breccia Pipe Zone and MW3 Zone showed promising expansions of mineralization. Drill holes in the Breccia Pipe Zone have identified potential high-grade extensions, with significant gold intervals.
In the MW3 Zone, thick, higher-grade intervals suggest an expansion of the known mineral zone. These results, post-cut-off for the upcoming maiden resource estimate, indicate potential for future resource expansion.
Vice President of Exploration James Berry commented, &ldquo;These exploration results are very positive.&hellip; The shallow mineralization is open and we are finding better grades in zones internal and external to the global resource area, which will improve the ultimate economics of the project. Once we finish the initial Richmond Hill maiden S-K 1300 resource estimate in Q1 2024, work will begin to expand it using the great results reported here today.&rdquo;
4. Piedmont Lithium&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pll#NASDAQ">PLL</a>) announced the sale of 1,152.2 million shares of Sayona Mining (ASX: SYA) for A$0.052, resulting in gross proceeds of roughly A$59.9 million ($39.4 million).
Piedmont no longer holds any shares of Sayona Mining and the sale has no impact on Piedmont&rsquo;s joint venture or offtake position with Sayona Quebec.
The decision to divest aligns with the company&rsquo;s goal to maintain a prudent balance sheet while minimizing shareholder Piedmont dilution.
President and CEO Keith Phillips commented, &ldquo;We acquired our initial Sayona shares as part of our strategic investment in the Sayona Quebec joint venture and will recognize a meaningful gain on the investment. We remain fully committed to our joint venture with Sayona, with a particular focus on the ongoing ramp up of North American Lithium, the largest lithium operation in North America. Our 25% joint venture interest and associated offtake agreement are core assets of Piedmont, and we look forward to continuing to work closely with our partners at Sayona to supply IRA-qualified lithium resources critical to the U.S. electric vehicle supply chain.&rdquo;
Now Read:&nbsp;<a href="https://www.benzinga.com/economics/macro-economic-events/24/02/37243710/fed-minutes-stress-inflation-vigilance-push-back-earlier-rate-cut-moves-officials">Fed Minutes Stress Inflation Vigilance, Push Back Earlier Rate Cut Moves: Officials Flag Commercial Real Estate Risks</a>
Photo: Shutterstock

GATO

Nucor OKs Rebar Mill; Gatos Silver Q4 Results; Dakota Gold Drill Assays; Piedmont Sells Sayona Shares: Wednesday's Top Mining Stories

Piedmont Lithium (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>) is set to give its latest quarterly earnings report on Thursday, 2024-02-22. Here's what investors need to know before the announcement.
Analysts estimate that Piedmont Lithium will report an earnings per share (EPS) of $0.45. 
Piedmont Lithium bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company missed EPS by $0.96, which was followed by a 2.02% increase in the share price the next day.
Here's a look at Piedmont Lithium's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.84</td>
<td></td>
<td>-0.36</td>
<td>-0.50</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.88</td>
<td>-0.55</td>
<td>-0.47</td>
<td>-0.62</td>
</tr>
<tr>
<td>Price Change %</td>
<td>2.02%</td>
<td>-1.17%</td>
<td>7.28%</td>
<td>-5.14%</td>
</tr>
</tbody>
</table>

<h3>Stock Performance</h3>
Shares of Piedmont Lithium were trading at $13.98 as of February 20. Over the last 52-week period, shares are down 77.85%. Given that these returns are generally negative, long-term shareholders are likely a little upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/PLL/earnings">To track all earnings releases for Piedmont Lithium visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Piedmont Lithium's Earnings Outlook

Piedmont Lithium (&quot;Piedmont&quot; or the &quot;Company&quot;) (NASDAQ:PLL, ASX: PLL)))),&nbsp;a leading global supplier of lithium resources critical to the U.S. electric vehicle supply chain, today announced the
Piedmont Lithium (&quot;Piedmont&quot; or the &quot;Company&quot;) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>, ASX: PLL)))),&nbsp;a leading global supplier of lithium resources critical to the U.S. electric vehicle supply chain, today announced the sale of the shares it held in Sayona Mining (&quot;Sayona&quot;) (ASX: SYA).
The Company has agreed to sell 1,152.2 million shares of Sayona for A$0.052 Australian Dollars (&quot;A$&quot;) per share through a secondary block sale via Canaccord Genuity. The sale price represents a premium to the 20-day volume weighted average price and will result in gross proceeds of approximately A$59.9 million, or US$39.4 million for Piedmont. Following the transaction and some smaller recent public market share sales, Piedmont will no longer hold any shares of Sayona. The sale of these shares has no impact on Piedmont&#39;s joint venture or offtake position with Sayona Quebec.

Offerings

Piedmont Lithium Sells 1.2B Sayona Mining Shares for A$0.052/Share

Lithium demand is expected to increase in the coming years. Here are five undervalued U.S. lithium stocks to play that recovery.

5 Undervalued U.S. Lithium Stocks To Buy For Long-Term Returns

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Lithium prices may be bottoming out, creating a big opportunity for some of the top <a href="https://investorplace.com/industries/energy/renewable-energy/battery/lithium/">lithium stocks</a> to buy now. For one, analysts at&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-03-13/lithium-shorts-on-alb-pls-get-dangerous-on-lower-supply-outlook">UBS and Goldman Sachs</a>&nbsp;just cut their 2024 supply estimates by 33% and 26%, respectively, says Mining.com. Meanwhile, Morgan Stanley just warned about lower inventories in China.



In addition, &ldquo;Double-digit capacity has already been taken out of the lithium market and that usually is a sign that the commodity price is bottoming,&rdquo; added Jun Bei Liu, a hedge fund manager at Tribeca Investment Partners,&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-03-13/lithium-shorts-on-alb-pls-get-dangerous-on-lower-supply-outlook?embedded-checkout=true">as quoted by Bloomerg</a>.



Bank of America analysts also say lithium prices could average about $14,000 per metric ton this year. That&rsquo;s up nicely from a prior call for $10,000 a ton. And, as I noted on Jan. 21, &ldquo;With some lithium mines shutting down or reducing production&nbsp;<a href="https://seekingalpha.com/article/4663102-top-10-lithium-companies-to-consider-potentially-approach-lithium-price-bottom">we could see less supply</a>. This could help stabilize prices and send lithium prices higher with demand.&rdquo;&nbsp;



That being said, it&rsquo;s time to buy the blood in the streets with top lithium stocks to buy now.



<h2>Piedmont Lithium (PLL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/pll1600-300x169.png" alt="Person holding cellphone with logo of US mining company Piedmont Lithium Inc. (PLL) on screen in front of business webpage. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>One of the top lithium stocks to buy now is&nbsp;Piedmont Lithium&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/pll-stock-quote/" target="_blank">PLL</a>).



Granted, its chart is ugly. But the company just received approval for a permit for the construction and operation of its proposed Caroline Lithium project from North Carolina.



For one,&nbsp;&ldquo;Technical studies have demonstrated that Carolina Lithium could be a low-cost producer of spodumene concentrate and lithium hydroxide, benefitting from exceptional infrastructure, minimal transportation distances, low energy costs, a deep local talent pool, and proximity to cathode and battery customers,&rdquo;&nbsp;<a href="https://www.businesswire.com/news/home/20240415485352/en/Piedmont-Lithium-Receives-Mining-Permit-Approval-for-Carolina-Lithium">the company said</a>.



Two, the company says its mine could be one of North America&rsquo;s biggest sources of lithium for electric vehicle batteries. Plus, it also holds all permits for its project in Tennessee, where it expects to start construction soon. Piedmont also partnered with&nbsp;Vinland Lithium&nbsp;to advance a project in Newfoundland, Canada.&nbsp;



Analysts at&nbsp;<a href="https://news.fintel.io/news/bmo-capital-initiates-coverage-of-piedmont-lithium-pll-with-market-perform-recommendation-229">BMO Capital recently initiated coverage</a>&nbsp;of Piedmont Lithium with a market perform rating, with a price target of $20 a share.



<h2>Sociedad Quimica y Minera (SQM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600f-300x169.jpg" alt="a pile of lithium. lithium stocks"><div>Source: Bjoern Wylezich/ShutterStock.com</div></div>Another one of the top lithium stocks to buy now is&nbsp;Sociedad Quimica y Minera&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/sqm-stock-quote/">SQM</a>), which currently yields about 11%.&nbsp;



Technically, it&rsquo;s been stuck in a channel between $45.70 and about $52 a share since the start of May. The good news is that SQM now trades at the lower range of that channel, where it has now bounced from two times prior.



Earnings haven&rsquo;t been too hot. But that&rsquo;s to be expected in the current environment. In its most recent quarter,&nbsp;SQM said&nbsp;<a href="https://investorplace.com/2024/01/why-these-3-lithium-stocks-should-be-on-your-radar-in-2024/" target="_blank">revenue slipped 38% year-over-year</a>&nbsp;to $1.84 billion. Net income came in 56% lower year over year to $479.9 million, as earnings per share (EPS) crumbled 56% to $1.68 year over year. However, a good amount of negativity has been priced in. Helping,&nbsp;Loop Capital&nbsp;<a href="https://thefly.com/news.php?symbol=SQM">recently raised its price target</a>&nbsp;on SQM to $62, with a hold rating.



Analysts at Jefferies also upgraded SQM to a buy rating, with a price target of $62.80. &ldquo;Jefferies sees SQM as an attractive investment due to several factors. These include the company&rsquo;s competitive advantage in low cash cost for lithium production and the anticipated value boost from the extension of its Chilean lithium concession,&rdquo; as noted by Investing.com.



<h2>Amplify Lithium &amp; Battery Technology ETF (BATT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600d-300x169.jpg" alt="Graphic of Lithium scientific symbol (Li) in the shape of a big white gear with construction equipment and mountain around it. favorite Lithium stocks"><div>Source: GrAl / Shutterstock.com</div></div>Or, we can jump into an exchange-traded fund (ETF), like the&nbsp;Amplify Lithium &amp; Battery Technology ETF&nbsp;(NYSEARCA:<a href="https://investorplace.com/stock-quotes/batt-stock-quote/">BATT</a>).



With an expense ratio of 0.59%, the BATT ETF provides exposure to global companies that develop, produce and use lithium battery technology &mdash; all for less than $10 a share. BATT ETF has 89 holdings, including&nbsp;Tesla&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>),&nbsp;Albemarle&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/alb-stock-quote/">ALB</a>) and Sociedad Quimica.



Just recently, the BATT ETF ran from about $8.56 to a recent high of $9.60. From there, it did slide back to $8.97, where it again caught support. Near term, I&rsquo;d like to see the ETF initially challenge $9.60 again. From there, I&rsquo;d like to see it rally back to $10.60.



This is another hot ETF that could double, even triple, when lithium prices and related stocks start to push well off their low. While simplistic to say, it&rsquo;s only a matter of time before lithium recovers and takes the BATT ETF along for the ride.



On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>
<div>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-lithium-stocks-to-buy-now-q2-edition/">3 Lithium Stocks to Buy Now: Q2 Edition</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Lithium Stocks to Buy Now: Q2 Edition

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When you look at the technology, it&rsquo;s hard not to be bullish on the future of electric vehicles. The environmental impact alone should be enough to realize that EV adoption will continue to rise as time goes on. As cars move away from being automobiles and more towards computerized vehicles, the benefits of EV technology far outweigh the benefits of traditional internal combustion engines (<a href="https://investorplace.com/stock-quotes/ice-stock-quote/">ICE</a>).&nbsp;



So if you&rsquo;re bullish on EV technology, one way to play the sector is to invest in <a href="https://investorplace.com/industries/energy/renewable-energy/battery/">battery stocks</a>. Batteries are like the picks and shovels of the industry. Without a fast charge and a long range, it will be difficult to convince most people to consider buying an electric vehicle. While the sector is in a lull, load up on these battery stocks for when EV demand rebounds in the future.



<h2>BYD (BYDDY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/06/byd-1600-300x169.png" alt="BYD Company Limited logo in front of their website. BYDDY stock."><div>Source: T. Schneider / Shutterstock</div></div>BYD (OTCMKTS:<a href="https://investorplace.com/stock-quotes/byddy-stock-quote/">BYDDY</a>) is the leading electric vehicle maker in the Chinese market. Despite being a Chinese company, U.S. investors can buy shares of the American Depository Receipt or ADR on the Over-the-Counter markets. The stock does not receive much coverage from American analysts, but the ones that do have an average <a href="https://finance.yahoo.com/quote/BYDDY/analysis">price target</a> of $51.30 and a Wall Street high target of $69.00.&nbsp;



The stock was once a preferred investment of Warren Buffet who chose China&rsquo;s EV market over domestic companies like Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). The two companies are head-to-head in global <a href="https://www.reuters.com/business/autos-transportation/byd-may-hand-back-top-ev-seller-title-tesla-after-q1-sales-decline-2024-04-02/">EV sales</a> with BYD narrowly trailing Tesla in the first quarter of 2024. One thing that may surprise you is that Tesla uses BYD batteries for its Model Y, so the two companies are as much partners as they are rivals.&nbsp;



One look at BYD&rsquo;s valuation and it might be easy to see why Buffett chose BYD over Tesla. BYDDY trades at <a href="https://finance.yahoo.com/quote/BYDDY/key-statistics">16x forward earnings</a> and 0.9x sales. This is compared to 49.7x forward earnings and 5.2x sales for TSLA. With BYD&rsquo;s five-year <a href="https://www.alphaspread.com/security/szse/002594/financials/income-statement/revenue">revenue</a> CAGR of 36%, this stock has plenty of room to rise in the future.&nbsp;



<h2>Albemarle (ALB)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/alb1600a-300x169.jpg" alt="Albemarle (ALB) logo on a mobile phone screen"><div>Source: IgorGolovniov/Shutterstock.com</div></div>Albemarle (NYSE:<a href="https://investorplace.com/stock-quotes/alb-stock-quote/">ALB</a>) is an American chemical manufacturer that was founded in 1994 in Charlotte, NC. This stock has a wide range of opinions from analysts on Wall Street as the one-year <a href="https://finance.yahoo.com/quote/ALB/analysis">price target</a> range is as low as $81.00 and as high as $216.00. The average price target of $149.34 implies a 25% upside from its current price.&nbsp;



This company is the world&rsquo;s largest lithium provider for EV battery production. Albemarle already has standing partnerships with electric vehicle manufacturers. While lithium production continues to rise, prices have dropped off a cliff as demand for EVs has waned in this high-interest rate environment.&nbsp;



Because of the decline in lithium prices, Albemarle and the entire lithium sector have seen stock prices plunge. Shares of ALB are down by nearly 25% since the start of 2024 and are now trading at just <a href="https://finance.yahoo.com/quote/ALB/key-statistics">1.3x sales</a>. Wall Street certainly thinks Albemarle&rsquo;s stock will rise so it is one to target before demand for EVs returns.&nbsp;



<h2>Piedmont Lithium (PLL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/pll1600-300x169.png" alt="Person holding cellphone with logo of US mining company Piedmont Lithium Inc. (PLL) on screen in front of business webpage. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>Piedmont Lithium (NASDAQ:<a href="https://investorplace.com/stock-quotes/pll-stock-quote/">PLL</a>) is an American mining company that was founded in 1983. Anyone looking to buy low on lithium will certainly want to add Piedmont to their watchlist. PLL has an average analyst <a href="https://finance.yahoo.com/quote/PLL/analysis">price target</a> of $43.00 with a street-high target of $65.00. Shares of PLL have fallen by more than 80% over the past 52 weeks and are currently trading at just under $12.00.&nbsp;



This lithium company is much smaller than Albemarle but has a lot of similarities. Both are based in the North Carolina area and both have operations overseas in major lithium projects. Piedmont is also a major supplier to Tesla of both lithium and spodumene concentrate SC6 which is a lithium-aluminium pyroxene mineral. SC6 is a critical component for EV batteries as well as smartphones and medications.&nbsp;



As you might have guessed, the significant drawdown in PLL&rsquo;s price has led to a rock bottom multiple. Shares of PLL are trading at just 5.7x forward earnings and <a href="https://finance.yahoo.com/quote/PLL/key-statistics">5.5x sales</a>. Piedmont is another company that will rise and fall with the demand for EVs. While demand is at a near-term low, Piedmont is worth considering before the EV industry rises again.&nbsp;



On the date of publication, Ian Hartana and Vayun Chugh did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Chandler Capital is the work of Ian Hartana and Vayun Chugh. 

Ian Hartana and Vayun Chugh are both self-taught investors whose work has been featured in Seeking Alpha. Their research primarily revolves around GARP stocks with a long-term investment perspective encompassing diverse sectors such as technology, energy, and healthcare.</div><h3>More From InvestorPlace</h3>
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Prepare for a Charge: 3 Battery Stocks to Buy Before an EV Rebound

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The electric vehicle (EV) market is experiencing a significant surge in growth. The International Energy Agency reported <a href="https://www.iea.org/energy-system/transport/electric-vehicles">that approximately 20% of new car sales</a> in 2023 were electric. In the first quarter alone, more than 2.3 million EVs were sold. This achievement represented a 25% increase compared to the previous year. I think that lithium <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> will be the best way for investors to navigate this tailwind.



Furthermore, the demand for lithium currently outpaces the supply, and this trend is expected to continue through 2030.



The great thing about buying these lithium penny stocks is that some of them are in the pre-production stages. The pre-production stages implie they have very low valuations and great room to explode in value. So here are three lithium penny stocks for investors to consider adding to their portfolios in April this year. Don&rsquo;t miss out on these opportunities to grow your portfolio.



<h2>Piedmont Lithium (PLL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/pll1600-300x169.png" alt="Person holding cellphone with logo of US mining company Piedmont Lithium Inc. (PLL) on screen in front of business webpage. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>Piedmont Lithium (NASDAQ:<a href="https://investorplace.com/stock-quotes/pll-stock-quote/">PLL</a>) focuses on the exploration and development of lithium resources in North Carolina. The company aims to supply lithium hydroxide and other chemicals to the electric vehicle and battery storage markets.



PLL reported a<a href="https://finance.yahoo.com/news/piedmont-lithium-reports-third-quarter-120000895.html"> significant financial milestone</a> by recording its first profit in Q3 2023. The company earned $47.1 million in revenue from sales of 29,011 dry metric tons (dmt) of lithium concentrate&#8203; . PLL has started a<a href="https://finance.yahoo.com/news/piedmont-lithium-reports-q4-full-210500637.html"> cost-saving initiative</a> expected to save about $10 million annually. The plan involves a reduction of its workforce by 27% mainly in corporate offices&#8203;. For its ongoing projects, PLL aims to complete key capital projects that will lower operating costs. One example is the crushed ore storage dome, which is expected to be finished by mid-2024.



Furthermore, the company is a great bargain in my opinion. The Chinese market<a href="https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/metals/022724-factbox-chinas-lithium-market-to-remain-lackluster-despite-output-cuts"> has great sway</a> over lithium prices, and is currently in a cyclical downswing. I expect that the market will soon revert to its average production as the Chinese market improves. This means companies like PLL could be comparatively undervalued to their long-term potential.



<h2>Arcadium Lithium (ALTM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600f-300x169.jpg" alt="a pile of lithium. lithium stocks"><div>Source: Bjoern Wylezich/ShutterStock.com</div></div>Arcadium Lithium (NYSE:<a href="https://investorplace.com/stock-quotes/altm-stock-quote/">ALTM</a>) produces lithium for use in a wide range of lithium products used in batteries for electric vehicles and mobile phones.



LTHM anticipates<a href="https://finance.yahoo.com/news/arcadium-lithium-releases-fourth-quarter-213500828.html"> significant growth in its lithium production</a>. The company expects to increase lithium carbonate and hydroxide delivery volumes by approximately 40%, aiming to reach 50,000 to 54,000 metric tons.



Arcadium Lithium anticipates $450 to $625 million in growth capital expenditures for 2024, with an additional $100 to $125 million allocated for maintenance capital spending.



Meanwhile, the third-quarter revenue was $211.4 million, marking a decrease from previous quarters and the same period in 2022. Despite the dip in revenue, the adjusted EBITDA for the quarter increased by 8% year-over-year to $119.7 million.



This makes it one of those lithium penny stocks to consider, and potentially a strong diversifier if one seeks strong gains in the markets due to its market cap of 4.23 billion.



<h2>Standard Lithium (SLI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/sli1600-300x169.png" alt="Standard Lithium logo or icon on website page, Illustrative Editorial"><div>Source: Postmodern Studio / Shutterstock.com</div></div>Standard Lithium (NYSEAMERICAN:<a href="https://investorplace.com/stock-quotes/sli-stock-quote/">SLI</a>) is pioneering the modernization of lithium extraction techniques and is a strong pick in its own right.



SLI has <a href="https://markets.businessinsider.com/news/stocks/standard-lithium-successfully-commissions-first-commercial-scale-dle-column-in-north-america-1033280793">successfully commissioned</a> and validated the performance of the largest continuously-operating Direct Lithium Extraction (DLE) equipment in North America.



The DLE column is currently extracting lithium from Smackover Formation brine at an input flow rate of 90 gallons per minute (20.4 m3/hr), achieving an average lithium recovery of 97.3% and rejecting over 99% of key contaminants



The company&rsquo;s signature projects, the Phase 1A Project and the South West Arkansas Project, are located on the Smackover Formation in southern Arkansas, with additional prospective lithium brine project areas identified in East Texas



I think that the best has yet to come for SLI given this development. It has shown progress in modernizing its extraction techniques that will give it a significant competitive advantage moving forward.



On Penny Stocks and Low-Volume Stocks:&nbsp;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/">Penny Stocks &mdash; How to Profit Without Getting Scammed</a>



On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> InvestorPlace.com Publishing Guidelines</a>.
<div>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-lithium-penny-stocks-with-massive-growth-potential-april-2024/">3 Lithium Penny Stocks With Massive Growth Potential: April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Lithium Penny Stocks With Massive Growth Potential: April 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
From being among the hottest stocks, we&rsquo;ve come to a point where no one seems to be interested in buying <a href="https://investorplace.com/industries/energy/renewable-energy/battery/lithium/"></a>lithium stocks. It&rsquo;s said that long-term investing is boring. The reason is that value investors look for ideas to patiently hold before the next bull run. Lithium stocks might remain sideways to lower in the coming quarters. I would use this opportunity to accumulate potential multibagger lithium stocks.



When the next rally comes, there can be 10x or 20x stories. Of course, there needs to be ample reasons to back the conviction. From an industry as well as company perspective, lithium has plunged due to oversupply. Weakness in the EV industry has further depressed sentiments.



However, over the next 5 to 10 years, the outlook for lithium is positive. As investment in new mines decelerates, <a href="https://www.cnbc.com/2023/08/29/a-worldwide-lithium-shortage-could-come-as-soon-as-2025.html">analysts are talking about</a> a global lithium shortage by 2025. Boston Consulting Group further anticipates that the lithium supply gap will <a href="https://www.bcg.com/publications/2022/the-lithium-supply-crunch-doesnt-have-to-stall-electric-cars">likely be acute by 2035.</a> Therefore, for a long-term investor, this is the best time to buy stocks that represent companies with quality lithium assets.



<h2>Lithium Americas (LAC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/11/lithium-americas-lac-1600-300x169.jpg" alt="smartphone with logo of Canadian company Lithium Americas Corp on screen"><div>Source: Wirestock Creators / Shutterstock.com</div></div>Among the emerging names, Lithium Americas (NYSE:<a href="https://investorplace.com/stock-quotes/lac-stock-quote/">LAC</a>) will likely be a massive wealth creator. It&rsquo;s worth noting that LAC stock had surged from 2024 lows of $3.8 to $7.4. The big rally was on the back of the commitment by the U.S. Department of Energy for a <a href="https://lithiumamericas.com/news/news-details/2024/Lithium-Americas-Receives-Conditional-Commitment-for-2.26-Billion-ATVM-Loan-from-the-U.S.-DOE-for-Construction-of-Thacker-Pass/default.aspx">$2.26 billion loan</a> to fund the construction of the Thacker Pass project.



However, there has been a subsequent correction in LAC stock with the company raising <a href="https://lithiumamericas.com/news/news-details/2024/Lithium-Americas-Closes-US275-Million-Underwritten-Public-Offering/default.aspx">$275 million by issuing fresh equity.</a> The correction is a good time to accumulate the stock as Lithium Americas closes the funding gap for its game-changing project.



The Thacker Pass asset has a mine life of 40 years and has an <a href="https://lithiumamericas.com/files/doc_presentation/2024/04/LAC-Corporate-Presentation.pdf">after-tax net present value</a> of $5.7 billion. In the first four years, the asset will likely deliver an average annual EBITDA of $1.1 billion. Further, between years 5 and 40, the average annual EBITDA from the asset is expected at $2 billion. Clearly, the asset is a cash flow machine. Once production commences, the company will have the financial flexibility to invest in other lithium assets.



<h2>Piedmont Lithium (PLL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/pll1600-300x169.png" alt="Person holding cellphone with logo of US mining company Piedmont Lithium Inc. (PLL) on screen in front of business webpage. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>Piedmont Lithium (NASDAQ:<a href="https://investorplace.com/stock-quotes/pll-stock-quote/">PLL</a>) stock has plunged almost 80% in the last 12 months. The stock seems deeply undervalued after the massive correction. Considering the asset valuation, I believe PLL stock will likely deliver multibagger returns.



To put things into perspective, Piedmont has a market valuation of $225 million. If we <a href="https://piedmontlithium.com/wp-content/uploads/Piedmont-Lithium-Corporate-Presentation_February-2024.pdf">just consider the Ghana asset,</a> the after-tax NPV is $1.3 billion. Further, the Carolina and Tennessee have a combined after-tax NPV of $4.5 billion. Without a doubt, the stock trades at a deep valuation gap.



It&rsquo;s worth noting that Piedmont has supplier agreements with the likes of Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) and LG Chem. Once new assets go into production, offtake agreements will provide revenue visibility.



However, for now, the key catalyst for Piedmont is closing the funding gap. Once sentiments recover for lithium, it&rsquo;s likely that Piedmont will aggressively pursue the construction of its key projects in North America.



<h2>Standard Lithium (SLI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/sli1600-300x169.png" alt="Standard Lithium logo or icon on website page, Illustrative Editorial"><div>Source: Postmodern Studio / Shutterstock.com</div></div>Standard Lithium (NYSE:<a href="https://investorplace.com/stock-quotes/sli-stock-quote/">SLI</a>) stock has plunged 70% in the last 12 months. The stock seems deeply undervalued at current levels of $1. Considering an investment horizon until 2030, I expect SLI stock to deliver 20x returns.



Standard Lithium is another name that has high-quality lithium assets. Currently, it commands a market valuation of $192 million. In comparison, the company&rsquo;s Lanxess asset has an after-tax NPV of $772 million.



That is, however, not the key asset of the company. The South West Arkansas project <a href="https://d1io3yog0oux5.cloudfront.net/_e78c66e58d8d6ed60f616b7a71b68acc/standardlithium/db/314/2108/pdf/Nov+6%2C+2023+Corp+Presentation+RFS.pdf">has an after-tax NPV</a> of $4.5 billion. That puts into perspective the extent of undervaluation and underscores my view that the stock is a steal at current levels.



However, it&rsquo;s worth noting that the Arkansas asset has a development capex of $1.27 billion. The financing must come through equity dilution, debt or a joint venture partner. That&rsquo;s likely when lithium recovers and will be a major upside catalyst for SLI stock.



On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>
<div>Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-lithium-stocks-that-could-be-multibaggers-in-the-making-april-edition/">3 Lithium Stocks That Could Be Multibaggers in the Making: April Edition</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Lithium Stocks That Could Be Multibaggers in the Making: April Edition

Lithium Miners News For The Month Of April 2024

An update from Piedmont Lithium Ltd (PLL) is now available. Piedmont Lithium Inc. has announced a new development on April 30, 2024, via a press re...

Piedmont Lithium Issues Market-Impacting Development Update

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Global electric vehicle sales are set to accelerate, creating big opportunities for <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">EV stocks</a>.



For one, according to the International Energy Agency&rsquo;s (<a href="https://investorplace.com/stock-quotes/iea-stock-quote/">IEA</a>) Global EV Outlook 2024 report,&nbsp;<a href="https://www.iea.org/news/the-worlds-electric-car-fleet-continues-to-grow-strongly-with-2024-sales-set-to-reach-17-million">China&rsquo;s electric vehicle market could reach 45% this year</a>, as compared to 25% in Europe and around 11% in the U.S. Overall, EV sales could reach 17 million this year, or about 20% of all vehicles sold all over the world.



Two,&nbsp;<a href="https://www.wsj.com/economy/china-to-pay-consumers-up-to-nearly-1-400-to-replace-old-cars-63a3c707">China just announced it would pay car owners about $1,400</a>&nbsp;if they replace their current cars with electric or hybrid models, as noted by&nbsp;The Wall Street Journal. 



Three, we could see further, aggressive EV buying interest when the Federal Reserve starts cutting interest rates again. As it stands now, current rates have put a chokehold on the industry.



The other issue hurting greater adoption is the lack of EV charging infrastructure. Nearly 51% of Americans are concerned about that,&nbsp;<a href="https://www.ey.com/en_us/news/2023/06/ey-research-nearly-half-of-us-car-buyers-intend-to-purchase-an-ev">says EY.com</a>. However, with greater investment in infrastructure, we could soon see greater chances for further adoption.



We also have to consider that it&rsquo;s time to buy the fear in many of the top, beaten-down EV stocks stocks, such as:



<h2>Nio Inc. (NIO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/07/nio1600-1-300x169.png" alt="The NIO ES8 is an all-electric, 6 or 7-seater full-sized Sport Utility Vehicle manufactured by NIO."><div>Source: J1TTO / Shutterstock.com</div></div>The Nio&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/nio-stock-quote/">NIO</a>) stock has been a disaster over the last few months. Since topping out at around $9.50 in late 2023, it plummeted to a low of $3.61. However, it&rsquo;s slowly starting to come back thanks to China&rsquo;s plans to provide car owners with EV incentives.&nbsp;



In addition, after a good deal of disasters,&nbsp;<a href="https://www.nasdaq.com/articles/3-no-brainer-ev-stocks-to-buy-with-%241000-right-now">analysts expect for Nio&rsquo;s revenue to grow</a>&nbsp;18% to $9.1 billion, as it narrows its net loss to $2.2 billion. Plus, Nio sales are rebounding well. In its first quarter, for example, its EV sales topped its lowered guidance with 30,053 deliveries. Nio also expects to strengthen its competitive edge with the near-term rollout of its 2024 models, including the 2024 ES7, ET7 and ET5.



Analysts at&nbsp;<a href="https://www.tipranks.com/news/global-markets/hong-kong-stocks-nio-shares-offer-upside-of-over-60">DBS Holdings say NIO could see another 90% of upside</a>, reiterating a buy rating. The firm added that vehicle margins could rebound to a range of 15% to 18% as the production of newer vehicles come online in upcoming quarters.



<h2>Li Auto (LI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/li1600-2-300x169.png" alt="The steering wheel and dashboard inside Li Auto electric car. Interior of Li Auto EV. Li Auto Also known as Li Xiang, is a Chinese electric vehicle company"><div>Source: Robert Way / Shutterstock.com</div></div>Another one of the top EV stocks, Li Auto&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/li-stock-quote/">LI</a>) is showing big signs of life again, too.



After slipping form a high of about $46 to $23.04, the oversold electric vehicle stock is starting to rebound. Last trading at $26.86, I&rsquo;d like to see it retest $32 initially. Helping,&nbsp;<a href="https://www.fool.com/investing/2024/04/26/wall-street-analyst-sees-82-upside-for-li-auto/#:~:text=On%20Monday%2C%20Citigroup%20tweaked%20its,months%20from%20the%20current%20price).">Citi analysts have a buy rating</a>&nbsp;on the stock, with a price target of $43.60.&nbsp;



Analysts at&nbsp;<a href="https://seekingalpha.com/news/4089663-li-auto-is-tagged-with-a-higher-rating-at-macquarie-than-nio-and-xpeng">Macquarie have an outperform rating on the stock</a>, with a $40 price target. The firm added that Li Auto could achieve more than a million in unit sales by fiscal year 2026. They also noted LI stands alone in the wave of new &ldquo;Chinese EV players due to having the highest volumes, vehicle margins and cash generation among peers,&rdquo; as noted by Seeking Alpha.



I&rsquo;d also take advantage of the latest dip buying opportunity. It won&rsquo;t stay this oversold for long. Even better, the EV stock is just starting to pivot from over-extensions on RSI, MACD, and Williams&rsquo; %R. From its last traded price of $26.91, I&rsquo;d like to see it retest $32.



<h2>Piedmont Lithium (PLL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/pll1600-300x169.png" alt="Person holding cellphone with logo of US mining company Piedmont Lithium Inc. (PLL) on screen in front of business webpage. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>We can also look at rebounding shares of&nbsp;Piedmont Lithium&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/pll-stock-quote/">PLL</a>) &ndash; which recently received a&nbsp;<a href="https://finance.yahoo.com/news/5-tesla-supplier-piedmont-lithium-204437830.html">key North Carolina mining permit</a>.



Over the last two weeks, the&nbsp;North Carolina Department of Environmental Quality&rsquo;s Division of Energy, Mineral, and Land Resources&nbsp;<a href="https://finance.yahoo.com/news/5-tesla-supplier-piedmont-lithium-204437830.html">approved PLL&rsquo;s mining permit</a>&nbsp;for the construction, operation, and reclamation of the proposed Carolina Lithium project in North Carolina.&nbsp;



<a href="https://www.businesswire.com/news/home/20240415485352/en/Piedmont-Lithium-Receives-Mining-Permit-Approval-for-Carolina-Lithium">According to Piedmont Lithium President and CEO Keith Phillips</a>, &ldquo;We plan to develop Carolina Lithium as one of the lowest-cost, most sustainable lithium hydroxide operations in the world, and as a critical part of the American electric vehicle supply chain.&rdquo;



&ldquo;Technical studies have demonstrated that Carolina Lithium could be a low-cost producer of spodumene concentrate and lithium hydroxide, benefitting from exceptional infrastructure, minimal transportation distances, low energy costs, a deep local talent pool, and proximity to cathode and battery customers as well as local markets for the monetization of by-product industrial minerals,&rdquo;&nbsp;<a href="https://www.businesswire.com/news/home/20240415485352/en/Piedmont-Lithium-Receives-Mining-Permit-Approval-for-Carolina-Lithium">added a recent press release</a>.



On the date of publication, Ian Cooper&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned.&nbsp;The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</div><h3>More From InvestorPlace</h3>
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