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Highlights
- Pilbara’s shares were trading at AU$4.94 per share, down 2.85% at 3.18 PM AEDT.
- This is in line with ASX 200 Materials index, which was trading 2.38% lower at 15,401.40 points.
- On a sectoral front, materials was one of the worst performing sectors today.
Shares of Pilbara Minerals Limited (ASX:PLS) were trading in the red on Thursday despite no price sensitive news shared by the company. At 3.18 PM AEDT, Pilbara’s shares were trading at AU$4.94 apiece, down 2.85% on ASX. This is in line with ASX 200 Materials index, which was trading 2.38% lower at 15,401.40 points at 3.19 PM AEDT.
On a sectoral front, materials was one of the worst performing sectors. Ten of the eleven sectors were trading in the red today.
Pilbara explores, develops, and operates mineral resources in Australia. The company primarily holds a 100% interest in the Pilgangoora lithium-tantalum project which is located in the Pilbara region of Western Australia. Incorporated in 2005, Pilbara is based in West Perth, Australia.
Why are Pilbara shares trading lower today?
The fall in Pilbara’s share price might be because of the weakness in the overall materials index.
Image Source: © 2022 Kalkine Media ®
Data Source- Company announcement dated 18 October
Stock performance: The share price of Pilbara fell around 0.61% last month. However, the share price has increased more than 71% over the previous six months. On a year-to-date (YTD) basis, the company's shares have jumped almost 40% and over 130% over the previous year.
