Date of Data Capture: 23/10/2020
Name: PILBARA MINERALS LIMITED (PLS)
Classification: Lithium Mining
Current Price: $0.40
Market Capitalisation: $902 M
Forecast Sales* Growth: 34.36% *(CFP in 2022)
Yield Estimate: 0%
Consensus Price Target: $0.32
# Covering Analysts: 6
Premium at Current Price: +20.00%
Price Target Trend (3-Month): Up-Flat +39.13%
Signal Timeframe: Quarterly-Monthly-Weekly
Trend Bias: Up-Down / Long-Medium
Focus: Capital Growth
Set up Notes:
• New energy metal supplier PLS could be turning a corner as the lithium market recovers strength, along with great expectations for future growth, we see a potential new uptrend forming here.
• Performance has been poor over the last few years as the company worked through terrible conditions, here showing strong sales growth and expectations for positive cash flow by 2022.
• Pricing peaked in late 2017 at $1.30 and fell by almost 90% by the time of the 2020 Covid-lows in March - here we find them rallying through major linear resistance with good momentum and plenty of old price targets higher above.
Support ($): 0.375, 0.35, 0.325, 0.30 & 0.25.
Resistance ($): 0.40, 0.50, 0.60, 0.70 (+).