市场见解

How is the Pilbara Minerals (ASX:PLS) share price performing against its sector?

It has been an impressive year for Pilbara Minerals shares…
The post How is the Pilbara Minerals (ASX:PLS) share price performing against its sector? appeared first on The Motley Fool Australia. –

The Pilbara Minerals Ltd (ASX: PLS) share price raced to record highs last month due to continued interest in the lithium sector.

Similarly, shares in the company’s peers Orocobre Ltd (ASX: ORE) and Core Lithium Ltd (ASX: CXO) have also been on fire.

Pilbara Minerals shares are up 160% for 2021. In comparison, both the Orocobre and Core Lithium share prices are up around 120% and 140%, respectively. When pitted against the All Ordinaires Index (ASX: XAO), the index has risen a paltry 14% over the same period.

However, all three companies’ share prices have dropped off slightly this month due to some profit-taking. That’s not to say that these share price gains couldn’t extend further in the coming months.

What’s driving Pilbara shares forward?

There are a number of reasons why the Pilbara share price has accelerated in recent times.

First and foremost, the spot price for lithium has surged over the past year. The battery making ingredient is expected to be adopted across a number of industries, notably the transitioning to electric vehicles.

Furthermore, Pilbara Minerals released its full-year results late August, highlighting a significant increase in shipments of spodumene concentrate. This was underpinned by improved market conditions and robust operational performance at its Pilgangoora Lithium-Tantalum Operations in Western Australia.

A number of brokers weighed in on the company’s share price following its FY21 scorecard.

Analysts at Macquarie reduced their rating on Pilbara Minerals by 4% to $2.40. JPMorgan also cut its outlook by 4% to $2.40.

The latest broker note came from Citi, which raised its valuation on Pilbara Minerals shares by 6.9% to $2.20.

Pilbara Minerals share price snapshot

It’s been a great 12 months for Pilbara Minerals shareholders, with the share price posting an all-time high of $2.46 on 11 August 2021. Long-term investors would also be reaping some serious benefits, with shares up around 1,300% since March 2020.

The Pilbara Minerals share price added another 2.26% last Friday to its last closing price of $2.26.

On valuation grounds, Pilbara Minerals commands a market capitalisation of roughly $6.6 billion, with almost 3 billion shares on hand.

The post How is the Pilbara Minerals (ASX:PLS) share price performing against its sector? appeared first on The Motley Fool Australia.

Should you invest $1,000 in Pilbara Minerals right now?

Before you consider Pilbara Minerals, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Pilbara Minerals wasn’t one of them.

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*Returns as of August 16th 2021

More reading

Here are the 3 heaviest traded ASX 200 shares this Friday

ASX 200 midday update: TechnologyOne hits record high, lithium miners rise

The Pilbara Minerals (ASX:PLS) share price is up 5% on Friday
Here’s why the Pilbara Minerals (ASX:PLS) share price is up 25% in a month
ASX 200 miners dominate most traded shares on Monday

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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