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Syrah Resources
(Sydney:SYR)
Syrah Resources (SYR) vs. iShares MSCI Australia ETF (EWA)
Syrah Resources Business Overview & Revenue Model
Syrah Resources Earnings Call Summary
Syrah Resources Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.02M | 31.52M | 71.88M | 155.97M | 38.70M | 13.99M |
| Gross Profit | -61.13M | -55.66M | -37.34M | 18.78M | -44.10M | -56.25M |
| EBITDA | -103.05M | -123.72M | -84.83M | -19.43M | -49.55M | -63.03M |
| Net Income | -176.79M | -125.29M | -125.12M | -35.99M | -71.83M | -88.42M |
Balance Sheet | ||||||
| Total Assets | 1.02B | 692.11M | 1.03B | 840.48M | 589.90M | 559.76M |
| Cash, Cash Equivalents and Short-Term Investments | 65.01M | 87.47M | 124.55M | 133.27M | 73.37M | 97.18M |
| Total Debt | 411.88M | 269.91M | 434.06M | 127.72M | 121.67M | 84.67M |
| Total Liabilities | 533.96M | 309.88M | 508.30M | 194.34M | 187.57M | 128.49M |
| Stockholders Equity | 489.42M | 382.87M | 516.79M | 642.67M | 396.49M | 431.27M |
Cash Flow | ||||||
| Free Cash Flow | -123.53M | -102.71M | -314.57M | -189.40M | -77.26M | -64.88M |
| Operating Cash Flow | -115.57M | -78.64M | -93.08M | -46.42M | -48.34M | -49.58M |
| Investing Cash Flow | -8.22M | -24.07M | -208.79M | -149.27M | -25.77M | -17.12M |
| Financing Cash Flow | 64.75M | 105.89M | 297.51M | 249.92M | 45.27M | 57.73M |
Syrah Resources Technical Analysis
Syrah Resources Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | AU$170.45M | 146.12 | 1.08% | ― | ― | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
53 Neutral | AU$101.70M | -8.14 | -6.39% | ― | ― | 37.04% | |
52 Neutral | AU$36.51M | -1.90 | -15.13% | ― | ― | 23.60% | |
47 Neutral | AU$163.02M | -33.24 | -34.62% | ― | ― | -10.08% | |
41 Neutral | AU$222.96M | -0.70 | -30.60% | ― | -62.37% | 23.19% |
Syrah Resources Corporate Events
Syrah Resources has reported a change in managing director Shaun Verner’s interests in the company’s securities following the lapse of a tranche of his long-term incentive (LTI) unlisted performance rights granted in 2023. The disclosure to the ASX shows that 289,602 unlisted performance rights held indirectly through a family trust structure have lapsed, reducing Verner’s total indirect performance rights while leaving his substantial holdings of fully paid ordinary shares unchanged, a routine adjustment that reflects performance or vesting conditions under the company’s incentive plan rather than any on-market trading activity.
The most recent analyst rating on (AU:SYR) stock is a Hold with a A$0.23 price target. To see the full list of analyst forecasts on Syrah Resources stock, see the AU:SYR Stock Forecast page.
Syrah Resources Limited has notified the market that 1,063,664 performance rights (ASX code: SYRAC) have lapsed after the conditions attached to those rights were not met or became incapable of being satisfied, effective 28 January 2026. The lapse reduces the company’s pool of potential equity-based incentives, signalling an adjustment in its issued capital structure that may affect dilution expectations for existing shareholders and reflects performance or vesting hurdles not being achieved under the relevant incentive arrangements.
The most recent analyst rating on (AU:SYR) stock is a Hold with a A$0.23 price target. To see the full list of analyst forecasts on Syrah Resources stock, see the AU:SYR Stock Forecast page.
Syrah Resources reported a stronger December 2025 quarter, with natural graphite production at its Balama operation rising 34% quarter-on-quarter to 34kt and sales to third-party customers up 21% to 29kt at an average realised price of US$577 per tonne. The company maintained a low injury frequency rate, continued stable campaign-mode operations at Balama with improving recoveries, and is targeting at least 30kt of production in the March 2026 quarter while working to reduce unit costs as utilisation increases. Syrah’s Vidalia AAM facility in the US is currently producing for testing to support customer qualification, positioning the company to benefit from a pivotal policy and market environment that includes prospective high US duties on Chinese AAM imports, tighter Chinese export controls on graphite and battery materials, rising global EV sales, and growing AAM demand in the US that requires ex-China natural graphite supply.
The most recent analyst rating on (AU:SYR) stock is a Buy with a A$0.34 price target. To see the full list of analyst forecasts on Syrah Resources stock, see the AU:SYR Stock Forecast page.
Syrah Resources has announced that it has agreed with Tesla to extend the deadline to cure an alleged default under their offtake agreement for natural graphite active anode material from the Vidalia, Louisiana facility, pushing the cure date from 16 January 2026 to 16 March 2026. Although Syrah maintains it is not in default, both parties are collaborating to resolve Tesla’s concerns, and have also agreed, subject to US Department of Energy consent, to extend the deadline for final qualification of Vidalia’s active anode material to 16 March 2026, a move that preserves the potential continuation of a key customer relationship and underpins the commercial ramp-up of Syrah’s US downstream operations.
The most recent analyst rating on (AU:SYR) stock is a Sell with a A$0.50 price target. To see the full list of analyst forecasts on Syrah Resources stock, see the AU:SYR Stock Forecast page.
Syrah Resources has announced the lapse of 308,561 performance rights, which ceased on 28 November 2025 after the conditions attached to those rights were not met or became incapable of being satisfied. The cancellation of these conditional rights results in a change to the company’s issued capital structure, modestly reducing potential future equity dilution for existing shareholders.
The most recent analyst rating on (AU:SYR) stock is a Sell with a A$0.50 price target. To see the full list of analyst forecasts on Syrah Resources stock, see the AU:SYR Stock Forecast page.
Syrah Resources has announced that James Askew ceased to be a director of the company effective 31 December 2025, with the company lodging a final director’s interest notice with the ASX. The filing details Askew’s remaining holdings in Syrah at the time of his departure, including NED rights and fully paid ordinary shares held directly and through associated entities, providing transparency to investors about changes in board composition and director-aligned equity exposure.
The most recent analyst rating on (AU:SYR) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Syrah Resources stock, see the AU:SYR Stock Forecast page.
Syrah Resources has updated the market on changes to Managing Director Shaun Verner’s interests in the company’s securities, following the grant of long-term incentive performance rights. Verner has been awarded a total of 5,897,472 unlisted performance rights in two equal tranches as part of the company’s 2025 long-term incentive program, with vesting over three years to 31 December 2027 and subject to conditions under Syrah’s Equity Incentive Plan and shareholder-approved resolutions. His indirect holdings in fully paid ordinary shares remain unchanged through two family-related entities, while the new performance rights expand his equity-linked exposure and further align executive remuneration with shareholder outcomes over the medium term.
The most recent analyst rating on (AU:SYR) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Syrah Resources stock, see the AU:SYR Stock Forecast page.
Syrah Resources will release its December 2025 Quarterly Activities Report on 28 January 2026, with Managing Director and CEO Shaun Verner scheduled to host a results conference call for investors and stakeholders the same day at 11:00 am AEDT. A recording of the call will be made available on the company’s website, underscoring Syrah’s ongoing efforts to maintain transparency and engagement with the market as it progresses its graphite and anode materials operations across Mozambique and the United States.
The most recent analyst rating on (AU:SYR) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Syrah Resources stock, see the AU:SYR Stock Forecast page.
Syrah Resources Limited has issued 5,897,472 performance rights and 952,380 share rights as unquoted securities under its employee incentive scheme, effective 31 December 2025. The additional equity-based awards highlight the company’s continued use of long-term incentive structures to align employee interests with shareholder value and support ongoing retention and performance objectives.
The most recent analyst rating on (AU:SYR) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Syrah Resources stock, see the AU:SYR Stock Forecast page.
Syrah Resources Limited has announced the appointment of Samantha Hogg as a new director, effective from December 5, 2025. The initial director’s interest notice indicates that she currently holds no securities or interests in the company, which may suggest a focus on governance and strategic oversight rather than financial investment.
The most recent analyst rating on (AU:SYR) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Syrah Resources stock, see the AU:SYR Stock Forecast page.
Syrah Resources Limited has appointed Samantha Hogg as an Independent Non-Executive Director and Chair-Elect of the Board, succeeding Jim Askew who will retire at the end of December 2025. Mrs. Hogg brings extensive international executive experience in transport, infrastructure, energy, and resources sectors, which is expected to support Syrah’s strategic growth as a leading producer of natural graphite and active anode materials outside China. Her appointment is seen as a strategic move to guide the company in delivering its objectives and enhancing shareholder value.
The most recent analyst rating on (AU:SYR) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Syrah Resources stock, see the AU:SYR Stock Forecast page.
Syrah Resources Limited has announced a proposed issue of 17,476,862 warrants, with the issuance date set for February 13, 2026. This move is part of a placement or other type of issue, aimed at enhancing the company’s financial position and potentially expanding its market presence, which could have significant implications for its stakeholders and industry positioning.
The most recent analyst rating on (AU:SYR) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Syrah Resources stock, see the AU:SYR Stock Forecast page.
Syrah Resources announced an extension of the cure date for an alleged default under its offtake agreement with Tesla for supplying natural graphite active anode material from its Vidalia, Louisiana facility. The new cure date is set for January 16, 2026, with a final qualification deadline of February 9, 2026. This extension allows both companies to collaborate on resolving the issue, potentially impacting Syrah’s operations and its positioning within the battery materials industry.
The most recent analyst rating on (AU:SYR) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Syrah Resources stock, see the AU:SYR Stock Forecast page.