Is the Pilbara Minerals share price a buy prior to the miner’s earnings release tomorrow?

The Pilbara Minerals Ltd (ASX: PLS) share price has gained 21.5% over the last month, and tomorrow could bring more significant movement.

The S&P/ASX 200 Index (ASX: XJO) lithium company is gearing up to drop its full-year results on Tuesday.

Does that mean now is a good time to snap up the company’s stock prior to its annual release? Let’s take a look at what experts are tipping for the stock’s future.

Pilbara Minerals shares last traded at $3.05 each.

What does the future hold for the Pilbara Minerals share price?

Tomorrow is set to be a particularly exciting day for ASX 200 lithium fans as one of the market’s favourite miners is expected to issue its full-year results.

While the Pilbara Minerals share price fell nearly 4% on the release of its financial year 2021 earnings, it has gained 37% since.

And TMS Capital’s Henry Jennings believes it could be in prime position to keep growing.

The fundie told Livewire he believes the Pilbara Minerals share price will soar if recession risks fade.

Jennings believes that, if current uncertainty dissipates, the push towards electric vehicles will light a fire under lithium stocks in general and Pilbara Minerals in particular.

And the fundie isn’t alone in the bull’s corner. Citi is also expecting big things from the ASX 200 lithium giant.

The broker has a ‘buy’ rating and a $3.60 price target on Pilbara Minerals’ shares, my Fool colleague James reports. That represents a potential 18% upside.

And while Citi’s financial year 2022 earnings expectations recently faltered, it’s still tipping big things for the future.

Indeed, it forecasts the company to pay its maiden dividend in financial year 2023. The broker expects the company to pay out 29 cents per share in dividends this fiscal year and 21 cents per share in financial year 2024.

The post Is the Pilbara Minerals share price a buy prior to the miner’s earnings release tomorrow? appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Friday
• 2 ASX 200 shares set to soar if we manage to avoid a recession: experts
• Why are Pilbara Minerals shares seeing so much action this week?
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Here are the 3 most heavily traded ASX 200 shares on Wednesday

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Brooke Cooper 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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