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Vulcan Energy Resources Ltd.
(Sydney:VUL)
Vulcan Energy Resources Ltd. (VUL) vs. iShares MSCI Australia ETF (EWA)
Vulcan Energy Resources Ltd. Business Overview & Revenue Model
Vulcan Energy Resources Ltd. Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.68M | 20.68M | 6.78M | 12.10M | ― | 7.50M |
| Gross Profit | 19.93M | 19.93M | 4.19M | 7.06M | ― | 4.98M |
| EBITDA | -37.59M | -37.59M | -47.82M | -20.79M | -13.88M | -17.13M |
| Net Income | -42.36M | -42.36M | -26.96M | -26.02M | -12.39M | -18.85M |
Balance Sheet | ||||||
| Total Assets | 381.03M | 381.03M | 296.88M | 393.65M | 0.00 | 261.14M |
| Cash, Cash Equivalents and Short-Term Investments | 97.05M | 97.05M | 78.73M | 211.05M | 175.42M | 175.42M |
| Total Debt | 3.85M | 3.85M | 4.41M | 5.22M | 3.00M | 3.00M |
| Total Liabilities | 29.48M | 29.48M | 28.60M | 26.71M | 0.00 | 13.82M |
| Stockholders Equity | 351.53M | 351.53M | 268.28M | 366.94M | 247.32M | 247.32M |
Cash Flow | ||||||
| Free Cash Flow | -100.99M | -100.99M | -118.06M | -57.52M | -28.60M | -27.51M |
| Operating Cash Flow | -30.68M | -30.68M | -24.56M | -11.25M | ― | -7.17M |
| Investing Cash Flow | -75.98M | -75.98M | -93.32M | -48.16M | -42.29M | -40.67M |
| Financing Cash Flow | 125.15M | 125.15M | 63.34M | -700.41K | 113.07M | 108.74M |
Vulcan Energy Resources Ltd. Technical Analysis
Vulcan Energy Resources Ltd. Peers Comparison
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% | |
47 Neutral | AU$379.66M | -25.10 | -179.67% | ― | -100.00% | -6.00% | |
45 Neutral | AU$964.38M | -29.55 | -13.97% | ― | 620.73% | -21.19% | |
43 Neutral | AU$2.03B | -12.45 | -17.30% | ― | 16.06% | -50.94% | |
43 Neutral | AU$201.04M | -5.54 | -12.73% | ― | 2.00% | 8.82% |
Vulcan Energy Resources Ltd. Corporate Events
Vulcan Energy Resources has completed the retail component of its pro rata accelerated non-renounceable entitlement offer, raising approximately €147 million (A$263 million) at A$4.00 per new share, as part of a broader equity raising that totals about €545 million (A$973 million) when combined with earlier institutional elements. Around 7.7 million new shares were taken up by eligible retail shareholders, while approximately 58 million shortfall shares will be allotted to strategic investor HOCHTIEF, lifting its stake in Vulcan to about 15.41% and removing the need for a previously planned conditional top-up placement, thereby simplifying the company’s capital-raising structure and fully funding Phase One Lionheart development costs through to first cash flow generation.
The most recent analyst rating on (AU:VUL) stock is a Hold with a A$3.50 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Mitsubishi UFJ Financial Group has lodged a notice stating that it has ceased to be a substantial shareholder in Vulcan Energy Resources, following a series of transactions dated 15 December 2025 involving purchases of fully paid ordinary shares executed by an entity controlled by Morgan Stanley. The change in substantial holding status alters Vulcan’s shareholder register and may signal a rebalancing of institutional ownership in the company, a development watched closely by investors given Vulcan’s role in the emerging battery and clean energy sector.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. has issued a notice of the cessation of a substantial holder relationship linked to voting securities within the company. This development may impact stakeholder dynamics and corporate governance, altering the company’s equity structure and potentially influencing its future voting outcomes.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
JPMorgan Chase & Co. and its affiliates have ceased to be substantial holders in Vulcan Energy Resources Ltd., signaling changes in their equity stakes and associations with the company. This development could impact Vulcan Energy’s market dynamics and highlights strategic shifts by a major financial player, potentially influencing investor considerations and the company’s shareholder structure.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd., a company focused on lithium extraction and geothermal energy, announced changes in its substantial holdings and associations. This development signifies a shift in its shareholder base, which could influence company operations and possibly affect its market positioning within the sustainable energy and battery materials sector.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. announced that Hancock Prospecting Pty Ltd and its subsidiaries have reduced their stake in the company to below 5% following partial participation in share placements. This change reflects a dilution of Hancock’s holding, which may impact Vulcan’s shareholder dynamics and influence in strategic decisions, potentially affecting its market positioning and stakeholder relationships.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Limited announced a change in the director’s interest, specifically involving Angus Jack Rutherford Barker. The change involved the acquisition of 22,277 shares valued at $89,108, as part of the Institutional Entitlement Offer. This adjustment in shareholding reflects the company’s ongoing financial activities and could impact its market perception and stakeholder relations.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. announced a change in the director’s interest, with Josephine Bush acquiring 10,000 additional shares through the Institutional Entitlement Offer. This acquisition, valued at $40,000, increases her total holdings to 54,665 shares, reflecting confidence in the company’s strategic direction and potential for growth in the sustainable energy market.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. announced a change in the director’s interest, with Dr. Heidi Grön acquiring 6,500 additional shares through an Institutional Entitlement Offer. This acquisition reflects confidence in the company’s strategic direction and its commitment to sustainable energy solutions, potentially strengthening its market position and signaling positive implications for stakeholders.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. announced a change in the director’s interest, with Dr. Günter Hilken acquiring 5,000 additional shares valued at $20,000. This acquisition was made under the Institutional Entitlement Offer, which was announced earlier in December 2025, increasing his total shareholding to 14,491 shares.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. has announced a change in its substantial holders due to a dilution of shares following an Institutional Entitlement Offer and Placement. Dr. Francis Wedin and Magni Associates Pty Ltd have experienced a reduction in their voting power as a result of the issuance of approximately 178 million new shares. This change reflects a strategic move by Vulcan Energy to potentially raise capital or adjust its shareholder base, impacting the company’s ownership structure and possibly its market strategy.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. has issued over 61 million fully paid ordinary shares at A$4.00 each as part of a placement announced earlier in December 2025. This strategic move is expected to bolster Vulcan’s financial position, supporting its operations and reinforcing its market stance as a leader in sustainable lithium production for the European electric vehicle market.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. has announced an Extraordinary General Meeting (EGM) scheduled for January 12, 2026, in Perth, Australia. The meeting will address matters affecting shareholder interests, and the company emphasizes the importance of shareholder participation. To minimize environmental impact, the company will not distribute hard copies of the meeting notice, encouraging digital communication instead. This move aligns with Vulcan’s commitment to sustainability and reflects its strategic focus on reducing its environmental footprint.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. announced a partially underwritten entitlement offer to raise approximately €466 million, alongside a fully underwritten placement to institutional investors to raise €137 million. This capital raising initiative aims to support the company’s operations and strengthen its market position in sustainable lithium production. However, the offer is limited to eligible shareholders in Australia and New Zealand, excluding those in the United States, due to regulatory and cost considerations.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. has announced the opening of the retail component of its pro rata accelerated non-renounceable entitlement offer. This offer, which was initially announced on December 3, 2025, allows eligible retail shareholders in Australia and New Zealand to participate. The initiative is part of Vulcan’s strategic efforts to raise capital, potentially strengthening its market position in the sustainable lithium production sector. The retail entitlement offer is expected to close on December 23, 2025, and aims to support Vulcan’s ongoing projects and expansion plans.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. has successfully completed its institutional placement and entitlement offer, raising €398 million to fund the Phase One Lionheart development. This financing will support the company’s transition from development to execution phase, marking a significant step in establishing Europe’s first sustainable lithium value chain.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. has announced an accelerated non-renounceable entitlement offer to raise capital by issuing new shares to existing shareholders. The offer is structured to minimize changes in company control, with substantial shareholder HOCHTIEF Lithium Holding GmbH agreeing to sub-underwrite a significant portion of the retail component. This move is expected to support Vulcan’s strategic initiatives without significantly altering shareholder power dynamics.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. has announced a proposed issue of securities, involving an accelerated non-renounceable entitlement offer and a placement, totaling over 269 million ordinary fully paid shares. This move is expected to enhance the company’s capital base, potentially strengthening its position in the renewable energy sector and providing opportunities for growth and expansion.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd announced the securing of financing for Phase One of the Lionheart project and a final investment decision. This development marks a significant step in Vulcan’s strategic growth, potentially enhancing its industry positioning and offering new opportunities for stakeholders by expanding its clean energy initiatives.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. has secured a €2,200 million financing package to fully fund the construction and development of Phase One of the Lionheart lithium and renewable energy project in Germany. This project is set to enhance Vulcan’s position as a key player in Europe’s battery and electric vehicle market by producing lithium and renewable energy, with construction commencing soon and commercial production targeted for 2028.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. has awarded an EPCM contract to a joint venture between Sedgman and HOCHTIEF for its Phase One Lionheart Project. This project aims to produce 24,000 tonnes of lithium hydroxide monohydrate annually, supporting approximately 500,000 electric vehicles, while also generating significant power and heat. The partnership is expected to enhance Vulcan’s position in the sustainable energy market by ensuring efficient project execution and setting new benchmarks for sustainability and innovation in lithium production.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. has requested a trading halt on its securities pending an important announcement regarding the financing of its Phase One Lionheart Project. This includes a pro rata accelerated non-renounceable entitlement offer and an institutional placement, which could significantly impact the company’s financial strategy and market positioning.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Mitsubishi UFJ Financial Group, Inc. has ceased to be a substantial holder in Vulcan Energy Resources Ltd. This change is due to the purchase of securities by an entity controlled by Morgan Stanley, affecting a significant number of fully paid ordinary shares. This development may impact Vulcan Energy’s shareholder structure and influence its market dynamics.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Morgan Stanley and its subsidiaries have ceased to be substantial holders in Vulcan Energy Resources Ltd. as of November 26, 2025. This change in shareholding could impact Vulcan’s market perception and investor confidence, as substantial holdings often indicate strong institutional support. The shift may lead stakeholders to reassess the company’s market positioning and future prospects.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. has reported a successful start to its Phase One Lionheart Project in Germany, with strong drilling performance and positive subsurface results from the LSC-1 vertical well and LSC-1a sidetrack. The project aims to produce 24,000 tonnes of lithium hydroxide monohydrate annually, enough to power approximately 500,000 electric vehicles. The drilling results have confirmed the quality and permeability of the reservoir, enhancing confidence in the project’s development and reducing geological uncertainty. These advancements position Vulcan favorably in the renewable energy market, supporting its goal of sustainable lithium production.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. has appointed ABB as the Main Electrical Contractor for its Phase One Lionheart Project, which aims to produce 24,000 tonnes of lithium hydroxide monohydrate annually. This partnership is expected to enhance the project’s efficiency and cost-effectiveness, positioning Vulcan as a key player in Europe’s energy and mobility transition.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$10.00 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. has secured the necessary permits to construct its upstream Lithium Extraction Plant as part of the Phase One Lionheart Project in Landau, Germany. This development marks a significant step towards Vulcan’s goal of producing battery-quality lithium from geothermal brine, supporting the EU’s aim to reduce dependencies on critical raw materials. The project is designed to be carbon neutral and will provide a sustainable source of lithium for approximately 500,000 electric vehicles annually, enhancing Vulcan’s position in the renewable energy and lithium markets.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$9.75 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. has made significant strides in its Phase One Lionheart Project during the third quarter of 2025, securing €104 million in grants from German federal and state governments to support domestic lithium production. The company also completed a €30 million strategic placement, secured permits for key facilities, and signed major contracts with technology and equipment partners. These developments enhance Vulcan’s position in Europe’s energy transition and critical raw materials supply chain, with the company expecting transformative progress by year-end.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$9.75 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. has announced a significant contract with Australian company JordProxa for the provision of technology and equipment for the lithium purification and concentration process in its Phase One Lionheart Project in Germany. The contract, valued at approximately €140 million, involves the design, fabrication, and delivery of core process units for lithium extraction and conversion. This collaboration is expected to enhance Vulcan’s project processes, streamline delivery times, and optimize costs, positioning the company as a leader in Europe’s sustainable lithium market.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$6.25 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. has signed a binding offtake agreement with Glencore, a major natural resource company, to supply between 36,000 and 44,000 tonnes of lithium hydroxide monohydrate over eight years. This agreement is crucial for the financing of Vulcan’s Phase One Lionheart Project, which is set to produce enough lithium for approximately 500,000 electric vehicles annually. The partnership with Glencore, alongside existing agreements with companies like Stellantis and LG Energy Solution, positions Vulcan strongly in the European lithium market and provides flexibility for future European partnerships.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$6.25 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. announced that the sole resolution at their Extraordinary General Meeting was successfully passed by poll. This resolution involved the ratification of the issue of placement shares, which was carried with a significant majority, indicating strong shareholder support for the company’s strategic initiatives.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$6.25 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
Vulcan Energy Resources Ltd. has announced the issuance of 56,281 performance rights under an employee incentive scheme. These securities are unquoted and not intended for trading on the ASX, reflecting the company’s strategy to incentivize and retain talent as it continues to advance its operations in sustainable energy solutions.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$6.25 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.