It looks set to be a big week for Pilbara Minerals Ltd (ASX: PLS) shares.
Thatâs because later this week, the lithium giant will be releasing its highly anticipated third-quarter update.
Ahead of the release on Thursday, letâs take a look to see what the market is expecting from the company.
Pilbara Minerals shares on watch ahead of quarterly update
According to a note out of Goldman Sachs, its analysts are expecting Pilbara Minerals to deliver spodumene production of 155kt during the third quarter. This would be down from 162kt during the second quarter but a touch ahead of the consensus estimate of 148kt.
Pleasingly, the broker believes that its sales volumes will be stronger quarter on quarter. It has pencilled in spodumene sales of 170kt for the three months, which is up from 149kt in the previous quarter. It is also ahead of the consensus estimate of 161kt.
And while Goldman expects Pilbara Minerals to report a slightly softer realised spodumene price of US$5,495 per tonne (Q2: US$5,668 per tonne), this is once again ahead of the consensus estimate of US$5,209 per tonne.
Finally, the broker also believes that the companyâs costs will be better than expected. It is forecasting cash costs of US$623 per tonne (Q2: US$579), whereas the consensus is for a jump to US$865 per tonne.
However, despite this positive view on its performance, Goldman only currently has a neutral rating and $4.20 price target on Pilbara Minerals shares.
The post Here’s why Pilbara Minerals shares will be in the spotlight this week appeared first on The Motley Fool Australia.
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More reading
- 3 things ASX investors should watch this week
- Analysts say Pilbara Minerals and this ASX dividend share are buys
- Here are the top 10 ASX 200 shares today
- Here are the 3 most heavily traded ASX 200 shares on Friday
- Here are the 3 most heavily traded ASX 200 shares on Thursday
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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