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Elevra Lithium
(Sydney:ELV)
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Rating:46Neutral
Price Target:
AU$7.00
â–¼(-9.68% Downside)
Action:Reiterated
Date:06/27/26
The score is held down primarily by weak financial performance—widening losses and persistent negative operating/free cash flow despite strong revenue growth—suggesting elevated funding risk. Technicals add pressure with bearish momentum and the stock trading below key short-term averages. Valuation provides limited support due to negative earnings and no dividend yield.
Positive Factors
Strong revenue scaling
Sustained top-line growth across multiple years indicates the business is expanding market penetration and demand for its products. Paired with strong gross margins, this supports the potential for future operating leverage if SG&A and R&D are controlled, making growth durable over months.
Negative Factors
Persistent negative operating and free cash flow
Chronic cash burn erodes liquidity and forces reliance on external financing or equity issuance, which can dilute stakeholders and limit runway. Negative OCF and FCF reduce the firm's ability to self-fund growth or weather downturns, raising structural funding risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue scaling
Sustained top-line growth across multiple years indicates the business is expanding market penetration and demand for its products. Paired with strong gross margins, this supports the potential for future operating leverage if SG&A and R&D are controlled, making growth durable over months.
Read all positive factors
Elevra Lithium (ELV) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.67B
Dividend YieldN/A
Average Volume (3M)1.29M
Price to Earnings (P/E)―
Beta (1Y)1.80
Revenue Growth2.01%
EPS Growth-37.12%
CountryAU
Employees230
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-2.47
Shares Outstanding194,016,020
10 Day Avg. Volume1,054,872
30 Day Avg. Volume1,291,315
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.37
Price to Sales (P/S)0.69
P/FCF Ratio-2.39
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$14.83Price Target Upside91.29% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.89
Revenue Forecast (FY)AU$463.09M
Elevra Lithium Business Overview & Revenue Model
Company Description
Elevra Lithium Limited, together with its subsidiaries, engages in the identification, acquisition, exploration, and development of mineral assets in Australia and Canada. The company explores for lithium, graphite, and gold deposits. Its flagship...
Elevra Lithium Earnings Call Summary
Earnings Call Date:Feb 27, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Aug 28, 2026
Earnings Call Sentiment Positive
The earnings call presented a generally positive outlook with substantial growth in sales and revenue, cost improvements, and a strong cash position. The merger with Piedmont is a significant strategic achievement. However, there were challenges such as increased injury frequency, slight production decline, and weather-related operational disruptions.Positive Updates
Record Ore Mined
Ore mined increased by nearly 54% quarter-on-quarter to just over 370,000 tonnes, reflecting increased mining activity.
Negative Updates
Injury Frequency Increase
Increase in injury frequency rate due to exploration activities at Moblan, despite overall safety performance improving compared to FY 2024.
Read all updates
Q2-2025 Updates
Positive
Negative
Record Ore Mined
Ore mined increased by nearly 54% quarter-on-quarter to just over 370,000 tonnes, reflecting increased mining activity.
Read all positive updates
Company Guidance
During the Sayona Mining Limited FY 2025 December Quarter Results call, CEO Lucas Dow provided comprehensive guidance on the company's performance metrics and future outlook. The quarter saw a notable 54% increase in ore mined, totaling over 370,000 tonnes, attributed to enhanced mining activities and productivity improvements. Mill utilization remained robust at 90% despite a planned maintenance shutdown, while lithium recovery improved to 68%, indicating process stability. Spodumene concentrate production slightly declined due to maintenance and weather-related disruptions, but sales hit a record 66,000 tonnes, driving up revenue by 33% to AUD70 million. The unit operating cost improved by 6% quarter-on-quarter to AUD1,258 per tonne sold and AUD1,088 per tonne produced, underscoring cost optimization efforts. Capital expenditure was AUD7 million, with a focus on tailings capacity expansion and site improvements. Exploration activities continued at NAL and Moblan, with promising drilling results suggesting strong resource expansion potential. The company reiterated its FY 2025 guidance with production targets of 190,000 to 210,000 tonnes of spodumene and unit operating costs between AUD1,150 and AUD1,300, emphasizing efficiency and cost competitiveness. The announced merger with Piedmont aims to strengthen Sayona's market position, with anticipated completion in the first half of 2025, further bolstering the company's strategic and financial positioning.Elevra Lithium Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
62
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 222.73M | 223.37M | 200.87M | 1.70M | 387.00K | 645.39K |
| Gross Profit | 39.09M | 146.98M | 178.29M | -4.47M | 337.00K | 593.63K |
| EBITDA | -302.96M | -341.66M | -78.09M | -19.03M | -20.57M | -3.56M |
| Net Income | -131.74M | -294.29M | -101.40M | -13.63M | 58.89M | -4.38M |
Balance Sheet | ||||||
| Total Assets | 1.05B | 652.71M | 952.51M | 1.01B | 661.16M | 71.72M |
| Cash, Cash Equivalents and Short-Term Investments | 121.74M | 72.29M | 90.62M | 211.12M | 184.56M | 35.50M |
| Total Debt | 122.97M | 77.55M | 30.62M | 31.21M | 23.47M | 52.76K |
| Total Liabilities | 205.99M | 177.27M | 156.88M | 124.75M | 100.54M | 3.84M |
| Stockholders Equity | 847.58M | 420.22M | 665.04M | 756.16M | 504.02M | 61.39M |
Cash Flow | ||||||
| Free Cash Flow | -108.36M | -64.42M | -193.37M | -259.84M | -45.67M | -15.48M |
| Operating Cash Flow | -77.60M | -14.79M | -64.64M | -66.48M | -13.64M | -11.18M |
| Investing Cash Flow | 26.97M | -49.63M | -114.04M | -129.92M | -237.44M | 2.19M |
| Financing Cash Flow | 62.69M | 46.08M | 60.34M | 221.25M | 408.25M | 44.29M |
Elevra Lithium Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
46 Neutral | AU$1.67B | -3.49 | -20.78% | ― | 2.01% | -37.12% | |
43 Neutral | AU$500.66M | 0.46 | 154.06% | ― | ― | ― | |
43 Neutral | AU$1.22B | -5.61 | -8.07% | ― | -3.54% | -49.86% | |
42 Neutral | AU$1.20B | -35.71 | -10.17% | ― | -100.00% | 59.85% | |
42 Neutral | AU$109.26M | -3.20 | -19.15% | ― | ― | 17.32% | |
42 Neutral | AU$468.99M | -41.11 | -4.22% | ― | ― | 56.94% |
* Basic Materials Sector Average
AU:ELV
Elevra Lithium
8.50
4.60
117.95%
AU:CXO
Core Lithium Ltd
0.37
0.25
208.33%
AU:LKE
Lake Resources N.L.
0.05
<0.01
20.51%
AU:EUR
European Lithium
0.33
0.23
249.46%
AU:GLN
Galan Lithium Limited
0.37
0.23
170.37%
AU:VUL
Vulcan Energy Resources Ltd.
2.70
-0.27
-9.09%
Elevra Lithium Corporate Events
Elevra Lithium boosts output and locks in funding for North American expansion
Jul 27, 2026
Elevra Lithium reported a strong June 2026 quarter at its North American Lithium mine, with record monthly output, high plant utilisation and improved lithium recoveries, although sales volumes and realised prices fell as a legacy contract ended. ...
Elevra Lithium Sets Date for June Quarter Results Webcast
Jul 21, 2026
Elevra Lithium has scheduled the release of its June 2026 Quarterly Activities Report for 28 July 2026, alongside an investor webcast to discuss the quarterly results. The webcast will commence at 9:30am AEST on 28 July, with a corresponding 7:30p...
Elevra Lithium Issues New Unquoted Performance Rights Under Incentive Plan
Jul 7, 2026
Elevra Lithium Limited has notified the market of the issuance of 2,160 unquoted performance rights under its employee incentive scheme. The new rights, which are not intended to be quoted on the ASX, were issued on June 30, 2026, and reflect the ...
Elevra Lithium Issues New Shares Following Option Conversions
Jul 6, 2026
Elevra Lithium Limited, listed on the ASX under the ticker ELV, operates in the lithium sector, focusing on activities aligned with the production or development of lithium-related assets. The company’s ordinary fully paid shares trade publi...
Elevra Lithium Reports Lapse of Performance Rights
Jul 3, 2026
Elevra Lithium Limited has confirmed the lapse of 49,990 performance rights, identified under the ASX code ELVAM, after the conditions attached to these rights were not met by 30 June 2026. The cessation of these conditional securities slightly re...
Elevra Lithium Issues Over 5.2 Million Unquoted Options
Jun 30, 2026
Elevra Lithium Limited has notified the market of the issue of 5,276,387 unquoted options, exercisable at $4.80 and expiring on 31 December 2028. The options, recorded under ASX code ELVAN, were issued on 30 June 2026 and form part of previously a...
Morgan Stanley Ceases to Be Substantial Holder in Elevra Lithium
Jun 29, 2026
Morgan Stanley and its subsidiaries have notified Elevra Lithium that they have ceased to be a substantial shareholder in the company as of June 24, 2026, under Australia’s substantial holding disclosure rules. The change follows a series of...
Mitsubishi UFJ exits substantial holding in Elevra Lithium
Jun 29, 2026
Mitsubishi UFJ Financial Group has lodged a notice stating it has ceased to be a substantial holder in Elevra Lithium Limited, following a series of share transactions dated 24 June 2026. The change in substantial holding stems from purchases of E...
Elevra Breaks Ground on Fully Funded North American Lithium Expansion
Jun 28, 2026
Elevra Lithium has broken ground on its fully funded North American Lithium Expansion Project, following a May 2026 capital raise that strengthened its balance sheet and secured financing for staged growth. The company has already ordered key equi...
Index Shake-Up Puts Elevra Lithium Into S&P/ASX 200 as S&P Dow Jones Rebalances Benchmarks
Jun 5, 2026
SP Dow Jones Indices has announced its June 2026 quarterly rebalance of the SP/ASX indices, with ALS Limited joining the SP/ASX 50 and Paladin Energy Limited entering the SP/ASX 100, while Pro Medicus and Metcash are removed from those benchmarks....
Elevra Lithium director boosts stake via share purchase plan
Jun 5, 2026
Elevra Lithium Limited has disclosed a change in director Lucas Dow’s interests, with Dow Group Investments Trust acquiring 2,460 fully paid ordinary shares for A$30,000 under the company’s share purchase plan. Following this transacti...
Elevra Lithium Director Boosts Stake via Share Purchase Plan
Jun 5, 2026
Elevra Lithium director Laurie Lefcourt has increased his direct holding in the company, purchasing 1,230 fully paid ordinary shares on 5 June 2026 under the company’s share purchase plan. The A$15,000 on-market investment lifts LefcourtR...
Elevra Lithium Seeks ASX Quotation for New Share Issue
Jun 5, 2026
Elevra Lithium Limited has applied to the ASX for quotation of 1,275,668 new ordinary fully paid shares under its ELV ticker, with an issue date of June 5, 2026. The additional securities, issued as part of a previously announced transaction, will...
Elevra Lithium Leverages Strong FY26 Output to Drive North American Growth Plans
Jun 1, 2026
Elevra Lithium reported year-to-date fiscal 2026 production of 143,489 dry metric tonnes of lithium concentrate and sales of 147,517 tonnes, achieving 66% recovery and generating US$167 million in revenue at unit operating costs of US$840 per tonn...
State Street Group Exits Substantial Holder Position in Elevra Lithium
May 27, 2026
State Street Corporation, through its various asset management and custody subsidiaries, has ceased to be a substantial holder in Elevra Lithium Limited as of 25 May 2026, according to a notice filed under section 671B of the Corporations Act. The...
JPMorgan Ceases to Be Substantial Holder in Elevra Lithium
May 22, 2026
JPMorgan Chase Co. and several of its subsidiaries have notified Elevra Lithium Ltd that they have ceased to be substantial holders in the company as of 19 May 2026. The change reflects a series of securities lending, rehypothecation, and princip...
Elevra Raises A$275m to Fund North American Lithium Expansion
May 12, 2026
Elevra Lithium has completed a fully underwritten A$275 million institutional placement, issuing about 22.5 million new shares at A$12.20 each, a discount to recent trading prices, with strong support from existing and new domestic and global inst...
Elevra Lithium Plans 145 Million Convertible Notes Issue
May 12, 2026
Elevra Lithium Limited has lodged an Appendix 3B with the ASX detailing a proposed issue of up to 145 million convertible notes. The notes are to be issued by Sayona Inc. in Canada and are convertible or exchangeable into Elevra shares, with a pro...
Elevra Lithium Plans New Share and Option Issue to Bolster Funding
May 12, 2026
Elevra Lithium Limited has notified the ASX of a proposed securities issue comprising up to 566,776 ordinary fully paid shares and 56,678 options as part of a placement or similar capital-raising structure. The issue, scheduled for mid-May 2026, i...
Elevra Lithium Plans Capital Raise via Placement and Securities Purchase Plan
May 12, 2026
Elevra Lithium Limited has outlined plans for a significant capital raise via a combination of a securities purchase plan and a placement of ordinary fully paid shares on the ASX. The company intends to issue up to 1,639,344 shares under the secur...
Elevra Lithium launches dual-track equity raising to bolster funding
May 12, 2026
Elevra Lithium has launched a fully underwritten institutional placement of new shares and an accompanying share purchase plan for eligible retail investors in Australia and New Zealand. The combined equity raising, structured under existing Austr...
Elevra secures A$441m funding to drive North American lithium expansion
May 12, 2026
Elevra Lithium has launched a financing package of up to A$441 million, including a fully underwritten A$275 million institutional placement, a strategic A$146 million convertible notes investment from Canada Growth Fund and a share purchase plan ...
Elevra Lithium doubles NAL expansion value with staged growth plan
May 11, 2026
Elevra Lithium has released an updated scoping study for expanding its North American Lithium mine, outlining a staged development plan that lifts permitted plant throughput to 4,500 tonnes per day in Stage 1 and 6,500 tonnes per day in Stage 2 wh...
Elevra Sells Ghana Ewoyaa Stake to Refocus on North American Lithium Assets
May 10, 2026
Elevra Lithium has agreed to sell its entire interest, including offtake rights, in the Ewoyaa Lithium Project in Ghana to Zhejiang Huayou Cobalt for about US$71 million in cash, with completion targeted by the end of the March 2027 quarter subjec...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.