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Pilbara Minerals (PLS) – Have I missed the boat?

Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.

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Question asked

Pilbara Minerals (PLS) – Have I missed the boat?

Dear James, thank you for all the excellent work you and the team are doing. I have been watching PLS and it has rallied hard. Should I just consider buying right now Mon 4 March 2024 - or should I wait for another opportunity over the next few days/weeks? At its current price, having rallied +20% over the past few days, what sort of upside do you see from here? Thanks, Young

Answer

Hi Young,

As we’ve seen since your question on Monday the stock and lithium sector is a volatile space, i.e. PLS has already corrected ~14.5% from its Monday high. We continue to like PLS believing it and the ESG sector is looking for a low but further extreme swings should not be discounted.

  • MM believes PLS is offering good risk/reward back around $4 but subscribers should not forget its ability for regular 5-10% daily swings hence our relatively small exposure in the MM Active Growth Portfolio. 
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Pilbara Minerals Ltd (PLS)
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