Section 1.0 Company Overview: Pilbara Minerals Limited (ASX: PLS) is an ASX listed lithium entity that owns 100% interest in the independent hard-rock lithium operation, Pilgangoora Project. The project is located in Australia’s resource-rich Pilbara region, and it produces a spodumene and tantalite concentrate. Kalkine’s Investor Report covers the Investment Highlights, Key Financial Metrics, Risks, Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock.
Section 2.0: Key Metrics in Pictures
Having looked at the key financial metrics above, the below sections provide an in-depth fundamental, and technical analysis on Basic Materials’ Stock along with recommendation, technical support and resistance levels and indicative stop-loss.
Section 3.0 Top 10 Shareholders:
The top 10 shareholders together form ~33.20% of the total shareholding. GFL International Co., Ltd. And The Vanguard Group, Inc. are holding maximum stakes in the company at ~5.74% and ~5.02%, respectively.
Section 4.0: Pilbara Minerals Limited (Buy at AUD 4.160, closing market price of 25 September 2023)
Section 5.0: Valuation and Technical Guidance
(Source: REFINITIV, Analysis by Kalkine Group)
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 25 September 2023. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stockcan be consideredif the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Note 4: Dividend Yield may vary as per the stock price movement.
Technical Indicators Defined: -
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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