The Pilbara Minerals Ltd (ASX: PLS) share price is pushing higher again on Wednesday.
In afternoon trade, the lithium miner's shares are up 3.5% to $5.
This latest gain means that Pilbara Minerals' shares are now up 33% since the start of the year.
Where next for the Pilbara Minerals share price?
After such a strong gain since the start of the year, investors may be wondering what might happen if they invested in the company's shares now. Will they get burned or rich?
While opinion remains divided on where the Pilbara Minerals share price is heading, the majority of brokers don't believe you will be burned buying in at this level.
For example, analysts at Citi, Goldman Sachs, Morgans, and UBS all have price targets ranging from $5.00 to $5.20. This is broadly in line with where its shares are currently trading.
Elsewhere, the team at Macquarie remains very bullish and believes the company's shares could give your wealth a major boost. Its analysts have an outperform rating and a $7.30 price target on its shares. This implies a potential upside of 46% from current levels.
That would turn a $10,000 investment into almost $15,000 in 12 months if Macquarie is on the money with its recommendation.
What did analysts say about its quarterly update?
While Pilbara Minerals reported much weaker lithium prices than expected during the fourth quarter, the rest of its update got the thumbs up from analysts.
For example, Goldman Sachs responded, commenting:
PLS reported FY23 spodumene production at the top end of guidance (in line), while shipments were 10% ahead supporting an inventory unwind (we had seen risk of an inventory build on weaker pricing), with unit costs at the mid-point of FY23 guidance. Realised pricing of US$3,256/t (US$3,714/t SC6.0 CIF China) was down ~33% QoQ and ~25% below GSe/consensus, partly on timing, with contract pricing lags reflecting the weaker lithium chemicals pricing through March/April.
Whereas over at Citi, its analysts said:
PLS reported cash of $3.34bn vs CitiE's $3.28bn. Realised pricing of US$3256/t (US$3714/t SC6) was ~12% below consensus but offset by stronger volumes and costs. PLS is progressing a new partnering initiative on downstream with up to 300ktpa of Pilgangoora SC feed on the table. Partnering initiative expected to be concluded by the end of CY23. P680 capacity on track.
All in all, Pilbara Minerals appears to have been given the thumbs up for the fourth-quarter.
