Q: Hi 5i, Could I have a fresh look at PMET as a lithium small cap? I know of 3 analysts with target price over $10, does Bloomberg has a similar average? I’m not convinced this is the right time to buy lithium stocks, but would you prefer LAC? I already own ALB. Thanks as usual.
5i Research Answer:
With its small size and 57% YTD decline, PMET could stay weak into year end, unless there was a big sector rally (possible, yes, but likely ?). The company as 11 BUYS, no other recommendations, and an average target of $11.56. We are not sure either on a sector rally, and LAC is in much the same position (slightly larger) and we would prefer it of the two.