Electra Battery Materials Corp (TSE:ELBM)
:ELBM
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Electra Battery Materials Corp
(ELBM)
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Rating:41Neutral
Price Target:
C$0.78
▼(-16.70% Downside)
Action:Reiterated
Date:05/17/26
The score is driven primarily by very weak financial performance (no revenue, large ongoing losses, and negative operating/free cash flow), which outweighs the limited positives of positive equity and improved free cash flow versus 2025. Technicals reinforce the risk with a clear downtrend and weak momentum, while valuation metrics offer little support due to a negative P/E and no dividend yield.
Positive Factors
Positive equity cushion
A TTM equity balance of roughly $83.2M gives the company a durable capital buffer against ongoing losses, supporting near-term operations and financing flexibility. This equity base can underwrite working capital needs or strategic spending while management executes growth or recycling initiatives.
Negative Factors
No revenue; deep operating losses
Consistent zero reported revenue and a TTM net loss near $91M indicate the business has not yet commercialized into sustainable sales. Persistent negative gross profit undermines operational viability and means the company must rely on external financing or asset monetization to continue.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive equity cushion
A TTM equity balance of roughly $83.2M gives the company a durable capital buffer against ongoing losses, supporting near-term operations and financing flexibility. This equity base can underwrite working capital needs or strategic spending while management executes growth or recycling initiatives.
Read all positive factors
Electra Battery Materials Corp (ELBM) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$86.36M
Dividend YieldN/A
Average Volume (3M)555.73K
Price to Earnings (P/E)―
Beta (1Y)2.48
Revenue GrowthN/A
EPS Growth23.26%
CountryCA
Employees23
SectorGeneral
Sector StrengthN/A
IndustryIndustrial Materials
Share Statistics
EPS (TTM)N/A
Shares Outstanding105,314,080
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$2.48Price Target Upside163.43% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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 makes money primarily by selling refined battery materials—most notably battery-grade cobalt—produced from sourced feedstocks (including mined concentrates and recyclable material) that are processed at its refining operations. Revenue is ...
Electra Battery Materials Corp Financial Statement Overview
Summary
Income Statement
9
Very Negative
Balance Sheet
38
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -100.00K | -96.00K | -65.00K | -56.00K | -48.00K | -2.00K |
| EBITDA | -15.25M | -16.92M | -22.11M | 42.65K | 12.60M | -18.34M |
| Net Income | -91.34M | -133.47M | -29.45M | -64.67M | 12.55M | -34.92M |
Balance Sheet | ||||||
| Total Assets | 192.82M | 185.56M | 151.45M | 148.69M | 187.52M | 167.61M |
| Cash, Cash Equivalents and Short-Term Investments | 40.16M | 39.02M | 3.73M | 8.15M | 8.38M | 60.39M |
| Total Debt | 47.13M | 45.78M | 73.20M | 45.43M | 29.66M | 23.29M |
| Total Liabilities | 106.49M | 136.19M | 87.13M | 65.39M | 61.02M | 67.65M |
| Stockholders Equity | 83.20M | 46.25M | 64.32M | 83.30M | 126.51M | 99.96M |
Cash Flow | ||||||
| Free Cash Flow | -27.49M | -20.40M | -17.53M | -36.75M | -63.47M | -18.97M |
| Operating Cash Flow | -19.81M | -15.91M | -17.01M | -23.05M | -15.85M | -16.88M |
| Investing Cash Flow | -7.67M | -4.47M | 1.26M | -14.05M | -43.55M | -8.08M |
| Financing Cash Flow | 64.45M | 55.70M | 11.90M | 36.54M | 8.48M | 78.88M |
Electra Battery Materials Corp Technical Analysis
Negative
0.94
Price Trends
0.97
Negative
1.15
Negative
1.41
Negative
Market Momentum
-0.02
Negative
56.18
Neutral
87.96
Negative
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 0.94 is above the 20-day moving average (MA) of 0.83, below the 50-day MA of 0.97, and below the 200-day MA of 1.41, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 56.18 is Neutral, neither overbought nor oversold. The STOCH value of 87.96 is Negative, 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 |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | C$158.56M | 18.46 | 14.56% | ― | ― | -15.23% | |
53 Neutral | C$35.76M | -14.37 | -123.28% | ― | ― | -58.46% | |
49 Neutral | C$74.63M | -12.86 | -10.54% | ― | ― | -5.06% | |
48 Neutral | C$64.05M | -6.66 | -188.17% | ― | ― | -10.82% | |
41 Neutral | C$86.36M | -0.19 | -265.40% | ― | ― | 23.26% | |
| ― | C$14.66M | -4.79 | -21.92% | ― | ― | -60.63% |
* General Sector Average
TSE:ELBM
Electra Battery Materials Corp
0.82
-0.60
-42.25%
TSE:NBM
NEO Battery Materials Ltd
0.42
-0.21
-33.06%
TSE:LITH
Lithium Chile Inc
0.71
0.13
22.41%
TSE:DEFN
Defense Metals
0.19
0.04
26.67%
TSE:LBNK
LithiumBank Resources Corp.
0.56
0.31
124.00%
TSE:AVE
Vital Battery Metals, Inc.
0.17
-0.06
-26.09%
Electra Battery Materials Corp Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Electra Awards C$7.8 Million in Contracts to Advance Ontario Cobalt Refinery
Positive
Apr 9, 2026
Electra Battery Materials has awarded C$7.8 million in construction contracts to advance key infrastructure at its Ontario cobalt sulfate refinery, including a C$6.8 million package to Pro Pipe Construction for structural, mechanical and piping wo...
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...
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.