PLS Group Ltd (ASX: PLS) shares closed around 1.8% higher on Wednesday afternoon, at $5.11 a piece.
It's been a great year for the ASX lithium miner, and it ended FY26 as one of the strongest performers on the index, significantly outpacing the wider index.
At the time of writing, the shares are up around 19% year to date. They're also an impressive 276% higher than 12 months ago. Just last month, PLS Group shares hit a record $6.81 per share.
For context, the S&P/ASX 200 Index (ASX: XJO) is around 1% lower for the year-to-date. But it is up 2% over the past year, at the time of writing.
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So, if I bought $4,000 worth of PLS Group shares 12 months ago, what would it be worth today?
PLS Group shares were trading around $1.36 a piece on the 1st of July last year. That's 276% lower than the share price at the time of writing.
That means your $4,000 investment 12 months ago would now be worth a huge $15,040!
Can the lithium miner's shares keep climbing higher?
It looks like there could be more room for PLS Group shares to climb even higher over the next 12 months.
Market Index data shows that the majority of brokers have a buy rating on PLS Group shares. The $5.63 average target price implies a potential 10% upside, at the time of writing.
TradingView data shows something similar. Out of 19 analysts, eight have a buy or strong buy rating on the shares and six rate PLS Group as a hold. Another five rate the lithium shares as a sell or strong sell.
The average $5.89 target price implies a potential 15% upside at the time of writing. But some are even more bullish and think the shares could jump another 51% to $7.70 over the next 12 months.
RBC Capital recently renewed its buy rating on PLS Group shares and raised its price target from $5.40 to $7.
The team at Macquarie rates the mining share as a buy, with a price target of $6.20. The broker said that PLS Group's P2000 capex plan remains a key focus, and it expects more clarity at the upcoming Q4 and FY26 results.
The miner's P2000 project is at its Pilgangoora Operation in Western Australia. The project is designed to double the site's spodumene concentrate production capacity to approximately 2.0 million tonnes per annum. First ore is targeted for mid-2029.
