Atlantic Lithium (ALL) AI Stock Analysis

• Market Cap: £129.53M
• Dividend Yield: N/A
• Average Volume (3M): 1.70M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.69
• Revenue Growth: N/A
• EPS Growth: 54.72%
• Country: UK
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 748,743,350
• 10 Day Avg. Volume: 1,785,114
• 30 Day Avg. Volume: 1,696,091
• PEG Ratio: 0.29
• Price to Book (P/B): 2.41
• Price to Sales (P/S): 9223.05
• P/FCF Ratio: -4.01
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: £12.70
• Price Target Upside: -26.59% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 1
• EPS Forecast (FY): >-0.01
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: 19.50p ▲(12.72% Upside)
• Action: Reiterated Date: 02/20/26
• Date: Action: Reiterated 02/20/26

The score is held down primarily by very weak financial performance (steep revenue collapse and heavy losses, with negative free cash flow). Technicals provide partial offset due to strong trend and positive momentum, but overbought signals increase near-term risk. Valuation is not supportive given negative earnings and no dividend yield data.

Positive Factors

Very low leverage

A debt-to-equity ratio of ~0.0043 indicates minimal financial leverage, lowering interest burden and default risk. For a development-stage miner this stability preserves capacity to raise project finance or take strategic partners without heavy fixed debt costs, aiding long-term project delivery.

Defined flagship spodumene asset (Ewoyaa)

Owning a clearly defined hard-rock spodumene project provides a tangible pathway to producing lithium concentrate for batteries. Structural EV and battery raw-material demand supports the asset's strategic relevance; a developed Ewoyaa can create durable revenue streams tied to long-term battery supply chains.

Improving free cash flow trend

Free cash flow growth of ~34% signals operational progress versus prior periods. While absolute FCF remains negative, a rising FCF trend improves financing optionality, can lengthen runway, and de-risks project development by showing improving ability to convert activities into cash over upcoming months.

Negative Factors

Severe revenue collapse

A near-total revenue collapse (≈-98.7%) shows the company currently lacks sustainable operating receipts. For a developer this means prolonged reliance on non-operating funding, slower project advancement, and a higher probability of dilution or delayed timelines if revenues are not restored during development.

Deep negative profitability

Extremely negative net margins indicate costs and losses vastly exceed any revenue base, eroding equity and limiting reinvestment ability. Persistently large losses increase external financing needs and reduce management flexibility to fund development, potentially delaying commercialization and value realization.

Pre-production funding reliance

The business model depends on external capital until commercial production; this creates structural dilution and execution risk if markets or lenders tighten. Successful project delivery hinges on securing project finance or offtake support, a recurring uncertainty that shapes medium-term viability.

Atlantic Lithium Business Overview & Revenue Model

Company Description

Atlantic Lithium Limited explores for and develops mineral properties in West Africa. It primarily explores for lithium deposits. The company's flagship project is the Ewoyaa lithium project located in Ghana. It also holds interest in a lithium property covering an area of 1,172 square kilometers in Côte d'Ivoire. The company was formerly known as IronRidge Resources Limited and changed its name to Atlantic Lithium Limited in November 2021. Atlantic Lithium Limited was incorporated in 2007 and is based in Sydney, Australia.

How the Company Makes Money

Atlantic Lithium generates revenue primarily through the exploration, development, and eventual production of lithium concentrate. The company’s revenue model is centered on the sale of spodumene concentrate to battery manufacturers and electric vehicle producers as demand for lithium continues to rise. Key revenue streams include direct sales agreements with customers, potential off-take agreements that secure future sales, and partnerships with other mining companies and stakeholders in the lithium supply chain. Significant factors contributing to its earnings include the increasing global demand for lithium due to the electric vehicle boom, strategic partnerships that enhance operational capabilities, and favorable government policies promoting mineral extraction in the regions where it operates.

Atlantic Lithium Financial Statement Overview

Summary

Weak fundamentals: severe revenue decline (-98.66%) and deeply negative profitability (net margin -619.43%) outweigh the low leverage (debt-to-equity 0.0043). Cash flow remains pressured with significant negative free cash flow despite reported improvement.

Income Statement

Atlantic Lithium's income statement shows significant challenges with negative margins across the board. The company has experienced a drastic decline in revenue, with a revenue growth rate of -98.66%. The net profit margin is deeply negative at -619.43%, indicating substantial losses relative to revenue. These figures suggest severe profitability issues and a need for strategic changes to improve financial performance.

Balance Sheet

The balance sheet reflects a relatively stable financial structure with a low debt-to-equity ratio of 0.0043, indicating minimal leverage. However, the return on equity is negative at -16.20%, highlighting inefficiencies in generating returns for shareholders. The equity ratio is not explicitly calculated, but the company's equity position appears strong relative to its assets, suggesting some stability despite ongoing losses.

Cash Flow

Cash flow analysis reveals significant negative free cash flow, though there is a positive growth rate of 34.23% in free cash flow. The operating cash flow to net income ratio is negative, indicating operational challenges in generating cash. The free cash flow to net income ratio is high at 4.97, suggesting that while the company is generating some cash relative to its net losses, overall cash flow management remains a concern.

Breakdown	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	10.64K	717.86K	0.00	0.00	0.00
Gross Profit	-109.88K	717.86K	-27.93K	-16.83K	-12.02K
EBITDA	-6.15M	-12.17M	-12.26M	-33.39M	-4.04M
Net Income	-6.59M	-12.48M	-12.99M	-34.65M	-4.90M
Balance Sheet
Total Assets	44.48M	41.19M	36.69M	39.13M	72.19M
Cash, Cash Equivalents and Short-Term Investments	5.39M	12.68M	15.31M	23.88M	19.14M
Total Debt	176.25K	611.35K	0.00	0.00	0.00
Total Liabilities	3.78M	5.74M	6.54M	4.35M	3.95M
Stockholders Equity	40.70M	35.45M	30.15M	34.78M	68.24M
Cash Flow
Free Cash Flow	-24.45M	-34.16M	-28.85M	-10.60M	-17.41M
Operating Cash Flow	-4.92M	-9.14M	-6.96M	-5.38M	-2.86M
Investing Cash Flow	-12.57M	-8.39M	-4.47M	-12.66M	-14.65M
Financing Cash Flow	10.02M	15.05M	2.88M	23.49M	28.76M

Atlantic Lithium Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 17.30
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:ALL, the sentiment is Positive. The current price of 17.3 is above the 20-day moving average (MA) of 16.28, above the 50-day MA of 12.84, and above the 200-day MA of 9.45, indicating a bullish trend. The MACD of 1.54 indicates Positive momentum. The RSI at 59.54 is Neutral, neither overbought nor oversold. The STOCH value of 47.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:ALL.

Atlantic Lithium Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
KOD	52 Neutral	£83.53M	-8.20	-21.41%	―	―	-133.33%
ZNWD	52 Neutral	£37.42M	-12.55	-7.78%	―	―	-19.57%
ALL	51 Neutral	£129.53M	-36.04	-17.14%	―	―	54.72%
SAV	50 Neutral	£129.99M	-28.06	-10.02%	―	―	―
CTL	50 Neutral	£22.32M	-1.59	-35.54%	―	―	―

Atlantic Lithium Corporate Events

Atlantic Lithium Halts ASX Trading Amid Price Query and Deal Speculation

Atlantic Lithium has requested a trading halt of its shares on the Australian Securities Exchange, effective 19 February 2026, while it prepares a response to an ASX share price query. The company said the move also aims to address market speculation around the potential ratification of its Ewoyaa Mining Lease and talks regarding a possible corporate transaction.

The halt is expected to last until an announcement is released or until the ASX opens on 23 February 2026, with trading in Atlantic Lithium’s securities continuing as normal on London’s AIM market. The disclosure, classified as containing inside information under UK market abuse rules, signals heightened corporate activity and regulatory scrutiny around the company’s flagship Ghanaian lithium project and strategic options.

The most recent analyst rating on (GB:ALL) stock is a Hold with a £16.50 price target. To see the full list of analyst forecasts on Atlantic Lithium stock, see the GB:ALL Stock Forecast page.