Electra Battery Materials Corp (TSE:ELBM)
:ELBM
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Electra Battery Materials Corp
(ELBM)
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Rating:42Neutral
Price Target:
C$0.75
▲(4.03% Upside)
Action:ReiteratedDate:03/30/26
The score is weighed down primarily by very weak financial performance (no revenue, large losses, and ongoing cash burn) and bearish technicals (price below all key moving averages with negative MACD). Valuation offers limited offset because the negative P/E reflects continued unprofitability and there is no dividend support.
Positive Factors
Anchor Offtake Partner (LG)
A binding term sheet with LG Energy Solution secures a long-term customer once the refinery is operational, materially reducing commercial risk. This durable demand linkage supports project financing, offtake certainty and strengthens Electra's market position in North American battery supply chains.
Negative Factors
No reported revenue
Electra remains a pre-revenue company with no demonstrated sales, meaning core operations do not generate cash. Long-term viability depends entirely on successful project completion and new commercial contracts; absent revenue, financing and execution risks remain elevated through the ramp to production.
Read all positive and negative factors
Positive Factors
Negative Factors
Anchor Offtake Partner (LG)
A binding term sheet with LG Energy Solution secures a long-term customer once the refinery is operational, materially reducing commercial risk. This durable demand linkage supports project financing, offtake certainty and strengthens Electra's market position in North American battery supply chains.
Read all positive factors
Electra Battery Materials Corp (ELBM) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$74.69M
Dividend YieldN/A
Average Volume (3M)555.73K
Price to Earnings (P/E)―
Beta (1Y)2.32
Revenue GrowthN/A
EPS Growth62.30%
CountryCA
Employees23
SectorGeneral
Sector StrengthN/A
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-1.47
Shares Outstanding103,738,335
10 Day Avg. Volume1,332,317
30 Day Avg. Volume555,731
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.77
Price to Sales (P/S)0.00
P/FCF Ratio-1.75
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$2.92Price Target Upside305.56% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.19
Revenue Forecast (FY)C$31.70M
Electra Battery Materials Corp Business Overview & Revenue Model
Company Description
Electra Battery Materials Corporation acquires and explores for resource properties in the United States and Canada. It primarily explores for cobalt and silver deposits. The company's flagship project is the Iron Creek cobalt-copper project, whic...
How the Company Makes Money
Electra’s intended revenue model is primarily based on selling battery-grade cobalt sulfate produced from cobalt-bearing feedstocks to customers in the lithium-ion battery supply chain (e.g., cathode material producers and battery/EV-related purch...
Electra Battery Materials Corp Earnings Call Summary
Earnings Call Date:May 13, 2024
(Q4-2023)
| % Change Since: |
Next Earnings Date:May 27, 2026
Earnings Call Sentiment Positive
The earnings call highlighted significant progress in partnerships, debt restructuring, and technical advancements in black mass processing. However, financial concerns were noted with a decrease in cash reserves and dependency on external funding. Overall, the sentiment leans positive due to the strategic achievements and future potential in the battery materials market.Positive Updates
Successful Partnerships and Agreements
Electra secured a feedstock agreement with Eurasian Resources Group, one of the largest cobalt miners globally, and strengthened its relationship with LG Energy Solution, increasing the offtake agreement for cobalt sulfate.
Negative Updates
Decreased Cash Reserves
Cash and marketable securities decreased from $15.7 million to $8.2 million due to capital and trial costs, despite pending government commitments.
Read all updates
Q4-2023 Updates
Positive
Negative
Successful Partnerships and Agreements
Electra secured a feedstock agreement with Eurasian Resources Group, one of the largest cobalt miners globally, and strengthened its relationship with LG Energy Solution, increasing the offtake agreement for cobalt sulfate.
Read all positive updates
Company Guidance
During the Electra Battery Materials Corporation's Q4 2023 earnings call, the company provided key guidance metrics and strategic updates. Electra held $8.2 million in cash and marketable securities at the end of Q4, down from $15.7 million the previous quarter, attributed to capital costs for refinery construction and the black mass trial. A $5 million government grant and $5.1 million in pending government commitments were highlighted as future financial contributions. The company’s debt restructuring led to a private placement of USD 51 million in senior secured convertible notes, resulting in net proceeds of USD 13.7 million. Electra's refinery project is approximately 40% constructed, with facilities expanded to 105,000 square feet. The company achieved significant milestones in its black mass trial, producing 28 tonnes of nickel-cobalt MHP and advancing lithium carbonate purity to 96-97%. Looking ahead, Electra requires approximately USD 60 million to complete construction for commissioning, with a focus on non-dilutive funding solutions. They also emphasized strategic partnerships, including agreements with Glencore and Eurasian Resources Group for feedstock, and LG Energy Solution for offtake, which will purchase 80% of production.Electra Battery Materials Corp Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
44
Neutral
Cash Flow
25
Negative
| Breakdown | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -96.00K | -65.00K | -56.00K | -48.00K | -2.00K |
| EBITDA | -16.92M | -22.11M | 42.65K | 12.60M | -18.34M |
| Net Income | -133.47M | -29.45M | -64.67M | 12.55M | -34.92M |
Balance Sheet | |||||
| Total Assets | 185.56M | 151.45M | 148.69M | 187.52M | 167.61M |
| Cash, Cash Equivalents and Short-Term Investments | 39.02M | 3.73M | 8.15M | 8.38M | 60.39M |
| Total Debt | 45.78M | 73.20M | 45.43M | 29.66M | 23.29M |
| Total Liabilities | 136.19M | 87.13M | 65.39M | 61.02M | 67.65M |
| Stockholders Equity | 46.25M | 64.32M | 83.30M | 126.51M | 99.96M |
Cash Flow | |||||
| Free Cash Flow | -20.40M | -17.53M | -36.75M | -63.47M | -18.97M |
| Operating Cash Flow | -15.91M | -17.01M | -23.05M | -15.85M | -16.88M |
| Investing Cash Flow | -4.47M | 1.26M | -14.05M | -43.55M | -8.08M |
| Financing Cash Flow | 55.70M | 11.90M | 36.54M | 8.48M | 78.88M |
Electra Battery Materials Corp Technical Analysis
Negative
0.72
Price Trends
1.12
Negative
1.22
Negative
1.46
Negative
Market Momentum
-0.09
Positive
28.17
Positive
31.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ELBM, the sentiment is Negative. The current price of 0.72 is below the 20-day moving average (MA) of 0.90, below the 50-day MA of 1.12, and below the 200-day MA of 1.46, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 28.17 is Positive, neither overbought nor oversold. The STOCH value of 31.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:ELBM.
Electra Battery Materials Corp Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
56 Neutral | C$133.93M | 11.50 | -1.09% | ― | ― | -107.23% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | C$34.22M | -14.37 | -123.28% | ― | ― | -692.49% | |
49 Neutral | C$83.66M | -12.86 | -10.54% | ― | ― | -42.86% | |
48 Neutral | C$92.61M | -6.66 | -188.17% | ― | ― | -38.68% | |
42 Neutral | C$74.69M | -0.27 | -49.31% | ― | ― | 62.30% | |
| ― | C$15.53M | -5.07 | -21.92% | ― | ― | -6.45% |
* General Sector Average
TSE:ELBM
Electra Battery Materials Corp
0.72
-0.83
-53.55%
TSE:NBM
NEO Battery Materials Ltd
0.60
-0.09
-13.04%
TSE:LITH
Lithium Chile Inc
0.60
0.04
7.14%
TSE:DEFN
Defense Metals
0.21
0.06
42.00%
TSE:LBNK
LithiumBank Resources Corp.
0.58
0.24
70.59%
TSE:AVE
Vital Battery Metals, Inc.
0.18
0.10
125.00%
Electra Battery Materials Corp Corporate Events
Business Operations and StrategyDelistings and Listing ChangesRegulatory Filings and Compliance
Electra Advances Cobalt Refinery Build as Nasdaq Flags Bid-Price Non-Compliance
Neutral
Mar 19, 2026
Electra Battery Materials Corp. reported steady construction progress at its cobalt sulfate refinery project in Ontario, which is slated to become North America’s only battery-grade cobalt sulfate production facility. Key engineering milesto...
Business Operations and StrategyPrivate Placements and Financing
Electra Expands US$25 Million ATM to Support Ontario Battery Materials Refinery
Positive
Feb 20, 2026
Electra Battery Materials Corporation has increased the size of its at-the-market equity offering program, allowing it to issue up to US$25 million in common shares through H.C. Wainwright Co. on the Nasdaq Capital Market. The shares will be sold...
Business Operations and Strategy
Electra Steps Up Global Outreach to Bolster North American Critical Minerals Supply Chain
Positive
Feb 5, 2026
Electra Battery Materials Corp announced that its executives will participate in a series of major global mining, battery materials, and investment conferences over the coming weeks, including Mining Indaba, Project Blue’s EV Battery confer...
Business Operations and Strategy
Electra Steps Up Global Outreach to Bolster North American Critical Minerals Strategy
Positive
Feb 5, 2026
Electra Battery Materials Corp. will have its executives participate in a series of major global mining, battery materials and investment conferences over February and March 2026, including Mining Indaba, Project Blue’s EV Battery conferenc...
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.