Pilbara Minerals Ltd (ASX: PLS) shares have had an incredibly volatile year.
Since the start of 2023, the lithium miner's shares have been as low as $3.36 and as high as $5.43.
The company's shares are currently trading at the lower end of this range at $3.53.
But that's the last 10 and a half months, what about the remainder of the year? Could Pilbara Minerals shares return to $4 by Christmas?
Let's have a look and see what could be on the cards.
Image source: Getty Images
Can Pilbara Minerals shares climb to $4?
Firstly, with a touch over five weeks until Christmas, that's only a short timeframe for financial markets. This makes it near impossible to predict how a share price will fare, particularly one as volatile as Pilbara Minerals.
To get to $4 from current levels, Pilbara Minerals' shares would have to rise 13% from current levels.
The good news is that this sort of movement has been seen from its shares in short periods many times in the past. And it is quite likely we will see such movements again.
In fact, just a touch over a month ago, the company's shares rose by that margin from $3.73 to $4.21 in the space of three trading days. So clearly, big moves are possible with this lithium giant.
But do brokers believe $4 is realistic? The answer to that is yes. At the end of last month, three brokers put the equivalent of buy ratings on the company's shares with price targets beyond $4.
Citi has a buy rating and $4.50 price target, Morgans has an add rating and $5 price target, and the ultra bullish Macquarie has an outperform rating and $7.10 price target. The latter is a massive 100% above its current share price.
Ultimately, it is impossible to guarantee. But with some positive news flow and a rebound in lithium prices, it could be possible. Just don't bet your house on it.
