Analyst Downgrades Piedmont Lithium; ATI Names New CEO; SunCoke CEO Retires; Olympic Steel Releases Q4, Annual Results: Friday’s Top Mining Stories

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Top Stories for Feb. 23, 2024:

1. BTIG analyst Gregory Lewis downgraded Piedmont Lithium (NASDAQ: PLL) from Buy to Neutral following its fourth-quarter and full-year 2023 financial results.

Piedmont Lithium’s 2023 results included $39.8 million in revenue from 43.2k dry metric tons of spodumene concentrate sales, $5.7 million gross profit and a ramp-up at NAL with cost and production improvements anticipated in 2024.

Shipments are expected to transition to multi-year contracts and it is advancing permits in Ghana and North Carolina.

Piedmont ended 2023 with $71.7 million cash and $49.1 million from Q1 2024 share sales of Sayona Mining (ASX: SYA).

2. The Board of Directors of ATI Inc. (NYSE: ATI) elected Chief Operating Officer Kimberly A. Fields as President and CEO, effective July 1, 2024.

Former CEO Robert S. Wetherbee commented, “ATI is well-positioned, on …

Full story available on Benzinga.com


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