Latest news with #PiedmontLithiumInc
Yahoo
02-05-2025
- Automotive
- Yahoo
Is Piedmont Lithium Inc. (PLL) Among the Most Promising EV Battery Stocks According to Wall Street Analysts?
We recently compiled a list of the 12 Most Promising EV Battery Stocks According to Wall Street Analysts. In this article, we are going to take a look at where Piedmont Lithium Inc. (NASDAQ:PLL) stands against the other EV Battery stocks. The term 'EV battery stocks' describes businesses producing and developing electric vehicle batteries. This includes firms that provide energy storage solutions, supply battery components, and produce EV batteries. There is a market for reasonably priced electric cars. Investors can look into the companies making EV batteries, the most crucial and expensive components for EVs, to stay ahead of that demand. The need for EV batteries will rise sharply if the manufacturing of electric vehicles rises dramatically during the next ten years. To satisfy the need for batteries with greater capacity and cheaper costs, major manufacturers are making significant investments. New energy storage solutions being developed by battery technology start-ups, some of which are coming public through mergers with special purpose acquisition companies, have the potential to completely transform the market. EV battery stocks are a great investment option right now. The EV battery market is booming. As per a research report, the market for electric vehicle batteries was estimated to be worth $59.06 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2032, from $67.78 billion to $111.20 billion. Asia Pacific held the largest regional share of the global EV battery market in 2023, with a valuation of $28.44 billion, and is anticipated to continue to do so for the duration of the forecast period. One of the main factors propelling the region's market expansion is China's soaring EV sales. As per the International Energy Agency, China accounted for the largest global sales of electric vehicles in 2023, with 8.4 million units sold. While the EV battery market is growing, the cost of EV batteries has dropped significantly in recent years, as per S&P Global, mostly due to declining prices for essential components like nickel, cobalt, and lithium. However, over the coming years, prices are anticipated to stabilize. For instance, the price of lithium carbonate dropped from around $70,000 per metric ton to less than $15,000 in 2024, while the price of cobalt dipped from $70,000 per metric ton in 2022 to about $30,000. While the global average price is predicted to increase somewhat in the second part of the decade, S&P Global Mobility forecasts that nickel cobalt manganese (NCM811) cell prices in Europe will decline by more than 7% between 2024 and 2030. This is caused by a strained raw material supply chain and unsustainable low profit margins for certain suppliers. NCM811 cells are currently cheaper in Greater China due to increased local production, while they are more expensive in Europe. In contrast, the average cost of lithium iron phosphate (LFP) cells in 2024 will be about $60/kWh, which is 20% less than that of NCM cells. Although LFP production is currently dominated by Greater China, Europe is growing its capacity. However, higher production costs in non-Chinese countries will probably result in a medium-term increase in LFP pricing. While NCM811 packs continue to average $103/kWh in the region, LFP packs in Greater China have achieved the goal of cost parity with internal combustion engine vehicles at $100/kWh. The cost of battery metal may increase, but economies of scale and efficiency improvements should keep costs largely constant. Analysts anticipate lithium prices to stabilize in 2025 as mine closures and robust EV sales in China lessen the global lithium supply glut. China's state-owned commodity data source Antaike estimates the glut will decrease by half to 80,000 tons of lithium carbonate, while Cameron Hughes of CRU Group stated that 2024 curtailments and possible additional reductions will substantially relieve the surplus. Over 5 million cars have already benefited from China's improved EV subsidies, which have driven up demand and helped fuel a late-2024 lithium rally. A buyer of cathode materials attested that the price rise was caused by subsidies, and analysts predict that policy assistance will keep prices rising in 2025, strengthening a bullish outlook. David Merriman, research director at metals research company Project Blue, stated: 'Any improvement in prices is likely to be felt towards the end of 2025 as inventories are used up and buyers return to the spot market.' A close-up of an open-pit mine in the Carolina Lithium Project. For this list, we compiled an initial list of 20 EV Battery stocks. Then we selected the 12 stocks that had the highest upside potential as of April 29, 2025. We have only included stocks in our list with an upside potential of 20% or higher. The stocks are ranked in ascending order of the upside potential. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points. (see more details here). Analysts' Upside Potential as of April 29: 49.00% Renowned in the lithium industry, Piedmont Lithium Inc. (NASDAQ:PLL) focuses on the expanding EV battery market. About 3,706 acres make up the company's Carolina Lithium Project, which is located in the Carolina Tin-Spodumene Belt of North Carolina. The region, located northwest of Charlotte, is important for its spodumene ore, which is a major supplier of lithium. Its development objectives are furthered by its ownership of assets in Bessemer City and Kings Mountain, North Carolina, in addition to this significant project. The company is concentrating on producing lithium hydroxide to take advantage of the rising demand for EVs. The compound is critically important for the lithium-ion batteries that power electric vehicles. Piedmont Lithium Inc. (NASDAQ:PLL) reached a full-year record with 117,000 dry metric tons transported and recorded record shipments in Q4 2024, delivering over 55,700 dry metric tons. Revenue for the quarter rose from $27.7 million to $45.6 million. The firm's annual run-rate savings of $14 million, as opposed to the initial aim of $10 million, exceeded its 2024 cost reduction goal. While unit prices decreased by over 20%, North American Lithium produced around 51,000 tons in Q4 and over 190,000 tons for the year. Piedmont Lithium Inc. (NASDAQ:PLL) accelerated permitting, obtaining a state mining permit for Carolina Lithium and a mine operating permit for Ewoyaa in Ghana. The business also revealed that it would merge with Sayona Mining to create the biggest lithium producer in North America currently, with projected yearly synergies of $15-20 million. With an analyst's upside potential of 49.00%, it is ranked seventh on our list of the Most Promising Stocks. Overall, PLL ranks 7th on our list of the most promising EV battery stocks according to Wall Street analysts. While we acknowledge the potential of PLL as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PLL but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Business Wire
30-04-2025
- Business
- Business Wire
Piedmont Lithium to Release First Quarter 2025 Results on May 7, 2025
BELMONT, N.C.--(BUSINESS WIRE)--Piedmont Lithium Inc. ('Piedmont,' the 'Company') (Nasdaq: PLL; ASX: PLL), a leading North American supplier of lithium products critical to the U.S. electric vehicle supply chain, today announced that it will release its first quarter 2025 results after the Nasdaq close on Wednesday, May 7, 2025. The Company will hold a conference call to discuss the results on Wednesday, May 7, 2025 at 4:30 p.m. Eastern Time (U.S. and Canada). Access to the call is available via webcast or direct dial. A link to the webcast and direct dial numbers are provided below. PARTICIPANT INFORMATION: Participant URL: Participant Toll-Free Dial-In Number: 1 (800) 715-9871 Participant Toll Dial-In Number: 1 (646) 307-1963 Conference ID: 9176321 WEBCAST DETAILS: Event Title: Q1 2025 Piedmont Lithium Earnings Call Event Date: May 7, 2025 Start Time: 4:30 p.m. Eastern Time (U.S. and Canada) About Piedmont Piedmont Lithium Inc. (Nasdaq: PLL; ASX: PLL) is developing a world-class, multi-asset, integrated lithium business focused on enabling the transition to a net zero world and the creation of a clean energy economy in North America. Our goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where we hold an economic interest. Our projects include our Carolina Lithium project in the United States and partnerships in Quebec with Sayona Mining (ASX: SYA) and in Ghana with Atlantic Lithium (AIM: ALL; ASX: A11). We believe these geographically diversified operations will enable us to play a pivotal role in supporting America's move toward energy independence and the electrification of transportation and energy storage.
Business Wire
29-04-2025
- Business
- Business Wire
Piedmont Lithium Announces Q1'25 North American Lithium Production Results
BELMONT, N.C.--(BUSINESS WIRE)--Piedmont Lithium Inc. ('Piedmont,' the 'Company') (Nasdaq: PLL; ASX: PLL), a leading North American supplier of lithium products critical to the U.S. electric vehicle supply chain, today announced that it shipped approximately 27,000 dry metric tons ('dmt') of spodumene concentrate in Q1'25. NAL, North America's largest producing spodumene mine, is jointly owned by Piedmont (25%) and Sayona Mining Limited (75%) (ASX: SYA). Q1'25 OPERATIONAL RESULTS SUMMARY NAL 1 Units Q1'25 Q4'24 QoQ Variance Q1'24 YoY Variance Ore Mined kt wmt 322.4 370.4 (13%) 351.1 (8%) Concentrate Produced kt dmt 43.3 50.9 (15%) 40.4 7% Plant (Mill) Utilization % 80% 90% (10%) 73% 7% Lithium Recovery % 69% 68% 1% 67% 2% Concentrate Sold kt dmt 27.0 66.0 (59%) 58.1 (53%) Expand In Q1'25, NAL produced 43,261 dmt and sold approximately 27,000 dmt. All tons sold by NAL were sold to Piedmont under the Company's offtake agreement and then shipped to Piedmont's customers. Quarterly production at NAL declined by 15% in Q1'25 compared to the prior quarter but production remains on track to achieve Sayona Mining's fiscal year 2025 production guidance of 190,000 – 210,000 dmt 2. Lithium recovery remained high at 69% and set a new record of 72% in March, while mill utilization declined due the combination of unplanned, weather-related downtime and a 5-day scheduled shutdown. The crushed ore dome mitigated the impact of the weather-related downtime and additional mobile crushing capacity has been brought on site to lessen the impact of weather on a go-forward basis. 'While NAL operated under challenging conditions to begin 2025 and produced fewer tons than anticipated, adjustments implemented since the restart of production have improved operational resilience. These steps give us confidence in our ability to improve performance and reduce weather-related disruptions in the future,' said Keith Phillips, President and CEO of Piedmont Lithium. About Piedmont Piedmont Lithium Inc. (Nasdaq: PLL; ASX: PLL) is developing a world-class, multi-asset, integrated lithium business focused on enabling the transition to a net zero world and the creation of a clean energy economy in North America. Our goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where we hold an economic interest. Our projects include our Carolina Lithium project in the United States and partnerships in Quebec with Sayona Mining (ASX: SYA) and in Ghana with Atlantic Lithium (AIM: ALL; ASX: A11). We believe these geographically diversified operations will enable us to play a pivotal role in supporting America's move toward energy independence and the electrification of transportation and energy storage. Cautionary Note to U.S. Investors Piedmont's public disclosures are governed by the U.S. Exchange Act of 1934, as amended, including Regulation S-K 1300 thereunder, whereas NAL discloses estimates of 'measured,' 'indicated,' and 'inferred' mineral resources as such terms are used in the JORC Code and Canada's National Instrument 43-101. Although S-K 1300, the JORC Code, and NI 43-101 have similar goals in terms of conveying an appropriate level of confidence in the disclosures being reported, they at times embody different approaches or definitions. Consequently, investors are cautioned that public disclosures by NAL prepared in accordance with the JORC Code or NI 43-101 may not be comparable to similar information made public by companies, including Piedmont, subject to S-K 1300 and the other reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder. The statements in the link below were prepared by, and made by, Sayona Mining. The following disclosures are not statements of Piedmont and have not been independently verified by Piedmont. NAL is not subject to U.S. reporting requirements or obligations, and investors are cautioned not to put undue reliance on these statements. Sayona Mining's original announcements can be found here: Forward-Looking Statements This press release contains forward-looking statements within the meaning of or as described in securities legislation in the United States and Australia, including statements regarding exploration, development, construction, and production activities of Sayona Mining, Atlantic Lithium, and Piedmont; current plans for Piedmont's mineral and chemical processing projects; Piedmont's potential acquisition of an ownership interest in Ewoyaa; and strategy. Such forward-looking statements involve substantial and known and unknown risks, uncertainties, and other risk factors, many of which are beyond our control, and which may cause actual timing of events, results, performance, or achievements and other factors to be materially different from the future timing of events, results, performance, or achievements expressed or implied by the forward-looking statements. Such risk factors include, among others: (i) that Piedmont, Sayona Mining, or Atlantic Lithium may be unable to commercially extract mineral deposits, (ii) that Piedmont's, Sayona Mining's, or Atlantic Lithium's properties may not contain expected reserves, (iii) risks and hazards inherent in the mining business (including risks inherent in exploring, developing, constructing, and operating mining projects, environmental hazards, industrial accidents, weather, or geologically related conditions), (iv) uncertainty about Piedmont's ability to obtain required capital to execute its business plan, (v) Piedmont's ability to hire and retain required personnel, (vi) changes in the market prices of lithium and lithium products, (vii) changes in technology or the development of substitute products, (viii) the uncertainties inherent in exploratory, developmental, and production activities, including risks relating to permitting, zoning, and regulatory delays related to our projects as well as the projects of our partners in Quebec and Ghana, (ix) uncertainties inherent in the estimation of lithium resources, (x) risks related to competition, (xi) risks related to the information, data, and projections related to Sayona Mining or Atlantic Lithium, (xii) occurrences and outcomes of claims, litigation, and regulatory actions, investigations, and proceedings, (xiii) risks regarding our ability to achieve profitability, enter into and deliver product under supply agreements on favorable terms, our ability to obtain sufficient financing to develop and construct our projects, our ability to comply with governmental regulations, and our ability to obtain necessary permits, (xiv) risks related to the completion of our proposed merger with Sayona Mining and related capital raises, and (xv) other uncertainties and risk factors set out in filings made from time to time with the U.S. Securities and Exchange Commission ('SEC') and the Australian Securities Exchange, including Piedmont's most recent filings with the SEC. The forward-looking statements, projections, and estimates are given only as of the date of this press release and actual events, results, performance, and achievements could vary significantly from the forward-looking statements, projections, and estimates presented in this press release. Readers are cautioned not to put undue reliance on forward-looking statements. Piedmont disclaims any intent or obligation to update publicly such forward-looking statements, projections, and estimates, whether as a result of new information, future events or otherwise. Additionally, Piedmont, except as required by applicable law, undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Piedmont, its financial or operating results or its securities.
