They are even plugging PMT on the AFR platform and it is still sinking. WTF??
Patriot shares ‘too cheap for investors to ignore’: Shaw
Alex Gluyas
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Shaw and Partners has declared that shares in Patriot Battery Metals are “too cheap for investors to ignore” and maintained its “buy” rating on the stock.
The broker attributed the 76 per cent plunge in Patriot’s share price this year to negative sentiment in the lithium sector. Prices of the battery material have been battered by signs of oversupply.
But Shaw and Partners said Patriot’s Shaakichiuwaanaan lithium project in Quebec, Canada will be an extremely important source of high-grade, long-term source for the burgeoning North American battery supply chain by the end of the decade. “Patriot Battery Metals offers incredible leverage to higher lithium prices through 2025 and beyond,” said Shaw and Partners senior research analyst Peter Kormendy.
However, Shaw and Partners lowered its price target on Patriot from $1.80 to $1.50. The stock fell 1.9 per cent to 26.5¢ on Monday.
PMT Price at posting:
26.3¢ Sentiment: None Disclosure: Held
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