Vulcan Energy Resources Ltd. (AU:VUL)
ASX:VUL
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Vulcan Energy Resources Ltd.
(Sydney:VUL)
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Rating:43Neutral
Price Target:
AU$4.50
▲(42.41% Upside)
Action:N/ADate:12/19/25
Vulcan Energy Resources Ltd. is facing significant financial and operational challenges, as reflected in its declining revenues and negative profitability metrics. The technical indicators suggest bearish momentum, and the valuation metrics are unattractive due to negative earnings and lack of dividends. These factors contribute to a low overall stock score.
Positive Factors
Sustainable extraction tech
Vulcan’s geothermal lithium extraction is a durable competitive advantage: it lowers lifecycle emissions and can meet OEMs’ growing ESG sourcing requirements. This structural differentiation supports long-term supply contracts and premium market access as decarbonization policies advance.
Negative Factors
Negative profit margins
Persistent negative EBIT and net margins indicate the company is not operationally profitable, likely due to high operating costs. Over months, this undermines self-funding for scaling, increases reliance on external capital, and raises execution risk for commercial production targets.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustainable extraction tech
Vulcan’s geothermal lithium extraction is a durable competitive advantage: it lowers lifecycle emissions and can meet OEMs’ growing ESG sourcing requirements. This structural differentiation supports long-term supply contracts and premium market access as decarbonization policies advance.
Read all positive factors
Vulcan Energy Resources Ltd. (VUL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.45B
Dividend YieldN/A
Average Volume (3M)1.91M
Price to Earnings (P/E)―
Beta (1Y)1.95
Revenue Growth16.06%
EPS Growth-50.94%
CountryAU
Employees371
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.28
Shares Outstanding442,256,470
10 Day Avg. Volume1,789,960
30 Day Avg. Volume1,908,708
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)1.65
Price to Sales (P/S)28.12
P/FCF Ratio-5.76
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$7.58Price Target Upside139.87% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.13
Revenue Forecast (FY)AU$7.63M
Vulcan Energy Resources Ltd. Business Overview & Revenue Model
Company Description
Vulcan Energy Resources Limited engages in the geothermal energy and lithium exploration and development activities in Europe. It holds interests in the Zero Carbon Lithium project; and the Vulcan Lithium project situated in the Upper Rhine Valley...
How the Company Makes Money
Vulcan Energy Resources generates revenue primarily through the production and sale of lithium hydroxide to battery manufacturers and electric vehicle producers. The company employs a unique geothermal lithium extraction process that not only mini...
Vulcan Energy Resources Ltd. Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
60
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Dec 2025 | Dec 2023 | Jun 2022 | Jun 2021 | Jun 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 | -7.46M | -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
Negative
3.16
Price Trends
3.70
Negative
4.23
Negative
4.01
Negative
Market Momentum
-0.20
Negative
42.76
Neutral
61.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:VUL, the sentiment is Negative. The current price of 3.16 is below the 20-day moving average (MA) of 3.30, below the 50-day MA of 3.70, and below the 200-day MA of 4.01, indicating a bearish trend. The MACD of -0.20 indicates Negative momentum. The RSI at 42.76 is Neutral, neither overbought nor oversold. The STOCH value of 61.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:VUL.
Vulcan Energy Resources Ltd. 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% | |
49 Neutral | AU$551.02M | -18.79 | -179.67% | ― | -100.00% | -6.00% | |
47 Neutral | AU$380.42M | -3.48 | -10.21% | ― | 2.00% | 8.82% | |
43 Neutral | AU$1.45B | -2.50 | -19.36% | ― | 16.06% | -50.94% | |
42 Neutral | AU$784.02M | -9.79 | -18.49% | ― | 620.73% | -21.19% |
* Basic Materials Sector Average
AU:VUL
Vulcan Energy Resources Ltd.
3.27
-1.00
-23.37%
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0.51
0.45
741.67%
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Australian Strategic Materials Ltd
1.40
1.04
283.56%
AU:MAU
Magnetic Resources NL
1.87
0.37
24.33%
AU:A4N
Alpha HPA Limited
0.54
-0.31
-36.47%
Vulcan Energy Resources Ltd. Corporate Events
Vulcan Energy Lifts Executive Pay as Lionheart Lithium Project Enters Construction Phase
Jan 21, 2026
Vulcan Energy’s board has approved significant remuneration adjustments for its Chief Executive Officer, Cris Moreno, and Group Chief Financial Officer, Felicity Gooding, effective 1 January 2026, reflecting the company’s transition fr...
Vulcan Energy Boosts Lionheart Project Confidence with Strong LSC-1b Well Test
Jan 20, 2026
Vulcan Energy reported successful production flow test results from its LSC-1b sidetrack well in the Lionheart Project in Germany’s Upper Rhine Valley Brine Field, confirming strong well deliverability with a potential production capacity of...
Vulcan Energy Shareholders Ratify Institutional Placement at Extraordinary Meeting
Jan 12, 2026
Vulcan Energy Resources reported that the sole resolution put to shareholders at its Extraordinary General Meeting on 12 January 2026 was passed by poll. Investors ratified a prior institutional placement of shares, with more than 83% of proxy vot...
Citi Group Entities Exit Substantial Holder Status in Vulcan Energy Resources
Jan 6, 2026
Citigroup Global Markets Australia Pty Limited and related Citi group entities have ceased to be a substantial holder in Vulcan Energy Resources Ltd as of 2 January 2026, following a series of changes in their relevant interests in the companyR...
Vulcan Energy Resources Seeks ASX Quotation for 65.7 Million New Shares
Dec 30, 2025
Vulcan Energy Resources Ltd. has applied for quotation on the ASX of 65,731,287 new ordinary fully paid shares under the code VUL, with an issue date of 30 December 2025. The sizeable new share quotation, arising from previously announced transact...
Vulcan Energy Completes Retail Entitlement Offer and Secures Full Phase One Funding
Dec 28, 2025
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 t...
Mitsubishi UFJ Exits Substantial Holder Position in Vulcan Energy Resources
Dec 18, 2025
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 e...
Vulcan Energy Declares Substantial Holder Cessation in Equity Structure
Dec 18, 2025
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&...
JPMorgan Chase Ends Substantial Holding in Vulcan Energy Resources
Dec 17, 2025
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 dy...
Vulcan Energy Resources Updates Substantial Holdings Status
Dec 17, 2025
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 ...
Hancock Prospecting Reduces Stake in Vulcan Energy Resources
Dec 15, 2025
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’...
Vulcan Energy Resources Announces Director’s Share Acquisition
Dec 12, 2025
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 Entitlem...
Vulcan Energy Director Increases Stake Amid Strategic Growth
Dec 12, 2025
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...
Vulcan Energy Director Increases Stake in Sustainable Lithium Venture
Dec 12, 2025
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 st...
Vulcan Energy Director Acquires Additional Shares
Dec 12, 2025
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 annou...
Vulcan Energy Announces Change in Substantial Holders
Dec 12, 2025
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 t...
Vulcan Energy Strengthens Market Position with New Share Issuance
Dec 11, 2025
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 i...
Vulcan Energy Announces Extraordinary General Meeting with Sustainability Focus
Dec 9, 2025
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 s...
Vulcan Energy Launches Major Capital Raising Initiative
Dec 9, 2025
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 init...
Vulcan Energy Opens Retail Entitlement Offer to Boost Capital
Dec 9, 2025
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 Au...
Vulcan Energy Secures €398M for Sustainable Lithium Project
Dec 3, 2025
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 deve...
Vulcan Energy Announces Entitlement Offer to Support Growth Initiatives
Dec 3, 2025
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 sharehol...
Vulcan Energy Announces Major Securities Issue to Boost Capital
Dec 3, 2025
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 comp...
Vulcan Energy Secures Financing for Lionheart Project Phase One
Dec 3, 2025
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 industr...
Vulcan Energy Secures €2.2 Billion for German Lithium Project
Dec 3, 2025
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&#...
Vulcan Energy Awards EPCM Contract for Sustainable Lithium Project
Dec 3, 2025
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 approxi...
Vulcan Energy Initiates Trading Halt Ahead of Key Financing Announcement
Dec 2, 2025
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 a...
Mitsubishi UFJ Financial Group Ceases Substantial Holding in Vulcan Energy
Dec 1, 2025
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 ord...
Morgan Stanley Ceases Substantial Holding in Vulcan Energy
Dec 1, 2025
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 ho...
Vulcan Energy Reports Successful Drilling in Lionheart Project
Nov 19, 2025
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 pro...
Vulcan Energy Partners with ABB for Major Lithium Project
Nov 13, 2025
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 projec...
Vulcan Energy Secures Permit for Lithium Extraction Plant in Germany
Nov 2, 2025
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 ...
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.