Financial Associated Press (Shanghai editor Liu Rui) news, when the price of lithium ore has been high, the executives of the Australian lithium miner Piedmont Lithium, which is listed in the United States, are still increasing their holdings of their own company shares, showing their optimism about lithium mine prices and the company's prospects.
As Tesla's lithium mine supply partner, the company's every move has attracted industry attention. The company is currently exploring the Piedmont region of North Carolina after it had reached an agreement with Tesla to supply lithium to Tesla once the mine went live.
Fueled by high lithium prices, Lithium in Piedmont nearly doubled last year, closing up 98 percent for the full year at $52.46. By comparison, the S&P 500 rose 27 percent. As 2021 drew to a close, two of the company's internal executives continued to buy shares of the company.
Executives: Or it will go back to last year's highs
According to the company's latest report to the SEC, on December 29, Bruce Czachor, the company's executive vice president and chief legal officer, bought 1,933 shares for $100,000, with an average price of $51.49 per share. After the acquisition, Chuck currently owns 10,517 shares.
Chuck said he bought the stock because he believed in the company's long-term prospects. He declined to disclose the stock's reasonable price, but noted that he saw "success and improvement for the company" and that the stock price should return to earlier higher levels. At one point in March last year, the company's shares rose to a 52-week intraday high of $88.97.
Earlier, on Dec. 15, the company's chairman, Jeffrey Armstrong, had invested $125,000 to increase his holdings of 2,500 shares, with an average price of $50 per share. Upon completion of the overweight, Armstrong now owns 25,000 shares.
Armstrong has increased its stake in the company several times in the second half of last year. Last September, he bought 2,500 shares at an average price of $51.09 for $127,725; last July, he bought 2,500 shares for $174,000, an average price of $69.62 per share.
Construction of new lithium mines may begin before the end of the year
JPMorgan analyst Tyler J. Langton believes Piedmont may begin construction of a lithium mine by the end of this year.
He wrote in the research report that the company may obtain a national mining license for the project at the end of the first quarter or early second quarter of this year.
"Given Piedmont's geographical location, environmental profile and low mining costs, we remain confident it will be an attractive partner in the EV supply chain," Langton wrote. ”
He rated the stock "overweight" with a target share price of $84.
![Tesla signed a five-year big order for lithium ore procurement, and the stock price of Australian suppliers soared by 20%[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)