Want to see AU:CXO full AI Analyst Report?
Top Page
Core Lithium Ltd
(Sydney:CXO)
Select Model
Select Model
Rating:44Neutral
Price Target:
AU$0.23
â–¼(-36.67% Downside)
Action:Reiterated
Date:10/13/26
The score is primarily driven by weak financial performance, marked by heavy recent losses and consistently negative operating and free cash flow, which elevates funding risk despite a comparatively manageable balance sheet. Technical indicators also weigh on the score, with the stock trading below major moving averages and negative momentum signals. Valuation provides limited support given the negative P/E and no stated dividend yield.
Positive Factors
Manageable Leverage
Low leverage and a sizable equity base provide more financial flexibility than the weak earnings profile would suggest. This can help Core Lithium fund essential development activity and absorb operating volatility without the immediate balance-sheet pressure associated with heavily debt-funded growth.
Negative Factors
Persistent Losses
The shift from profit in FY2023 to heavy losses through FY2026 shows that the current revenue base does not cover the company’s operating cost structure. Persistent negative margins weaken internal funding capacity and make future performance dependent on a successful improvement in operating scale or economics.
Read all positive and negative factors
Positive Factors
Negative Factors
Manageable Leverage
Low leverage and a sizable equity base provide more financial flexibility than the weak earnings profile would suggest. This can help Core Lithium fund essential development activity and absorb operating volatility without the immediate balance-sheet pressure associated with heavily debt-funded growth.
Read all positive factors
Core Lithium Ltd (CXO) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$728.28M
Dividend Yield2.98%
Average Volume (3M)45.67M
Price to Earnings (P/E)―
Beta (1Y)1.77
Revenue GrowthN/A
EPS Growth10.09%
CountryAU
Employees7
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding3,236,801,800
10 Day Avg. Volume29,379,239
30 Day Avg. Volume45,671,948
Financial Highlights & Ratios
PEG Ratio1.93
Price to Book (P/B)1.84
Price to Sales (P/S)38.81
P/FCF Ratio-16.14
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.30Price Target Upside-18.06% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.02
Revenue Forecast (FY)AU$229.48M
Core Lithium Ltd Business Overview & Revenue Model
Company Description
Core Lithium Ltd. is focused on the extraction and processing of lithium, alongside various other metallic resources, across its operations in the Northern Territory and South Australia. The company's main exploration efforts target reserves of co...
Core Lithium Ltd Earnings Call Summary
Earnings Call Date:Sep 26, 2024
(Q4-2024)
| % Change Since: |
Next Earnings Date:Mar 11, 2027
Earnings Call Sentiment Neutral
The earnings call presented a balanced view with notable achievements in terms of record shipments, resource growth, and strong cash management. However, there are significant challenges due to market conditions and the operational pause, leading to uncertainty about future operations.Positive Updates
Record Shipments and Strong Cash Position
CXO.AX achieved record quarterly shipments of 33,000 dry metric tonnes of concentrate, generating $41.7 million in revenue. The company ended the year with a strong cash balance of $87.6 million and remains debt-free.
Negative Updates
Market Challenges and Operational Pause
The company paused operations due to weak market conditions, which affected the overall performance and led to challenges in the lithium market dominated by China.
Read all updates
Q4-2024 Updates
Positive
Negative
Record Shipments and Strong Cash Position
CXO.AX achieved record quarterly shipments of 33,000 dry metric tonnes of concentrate, generating $41.7 million in revenue. The company ended the year with a strong cash balance of $87.6 million and remains debt-free.
Read all positive updates
Company Guidance
During the CXO.AX Q4 2024 earnings call, key metrics highlighted included a monthly recovery rate of 63% and production of over 20,000 dry metric tonnes of spodumene with a grade of 4.8%. The company reported a record sale of 33,000 dry metric tonnes, achieving an average SC6 price of over $1,000, and a cash operating unit cost of $644 per tonne. The exploration efforts resulted in an increase of the Mineral Resource to 48.2 million tonnes, marking a 58% rise. Financially, CXO.AX ended the quarter with a robust cash balance of $87.6 million, remaining debt-free, and generated $41.7 million in revenue from shipments, with total annual receipts from customers standing at $108 million. The company’s strategic focus is on maintaining a restart-ready status, optimizing cost structures, and enhancing exploration efforts with a budget of $8-9 million to further expand the resource base.Core Lithium Ltd Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
62
Positive
Cash Flow
28
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 17.85M | -2.42M | 189.49M | 50.60M | 0.00 |
| Gross Profit | 4.74M | -3.01M | 30.90M | 30.61M | -116.13K |
| EBITDA | -31.83M | -22.77M | -163.06M | 15.56M | -7.25M |
| Net Income | -25.96M | -23.37M | -207.01M | 10.81M | -7.47M |
Balance Sheet | |||||
| Total Assets | 451.09M | 268.44M | 323.96M | 503.14M | 261.85M |
| Cash, Cash Equivalents and Short-Term Investments | 183.51M | 24.06M | 88.18M | 152.95M | 135.39M |
| Total Debt | 33.91M | 2.91M | 3.53M | 22.94M | 2.09M |
| Total Liabilities | 75.26M | 34.16M | 67.09M | 148.22M | 23.13M |
| Stockholders Equity | 375.83M | 234.28M | 256.87M | 354.92M | 238.72M |
Cash Flow | |||||
| Free Cash Flow | -42.91M | -63.34M | -165.17M | -74.80M | -75.44M |
| Operating Cash Flow | -21.09M | -43.93M | -77.94M | 90.81M | -6.22M |
| Investing Cash Flow | -21.91M | -19.85M | -88.64M | -171.62M | -70.56M |
| Financing Cash Flow | 201.13M | -626.00K | 102.39M | 97.79M | 173.87M |
Core Lithium Ltd Technical Analysis
Negative
0.36
Price Trends
0.31
Negative
0.29
Negative
0.28
Negative
Market Momentum
-0.03
Negative
40.99
Neutral
70.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CXO, the sentiment is Negative. The current price of 0.36 is above the 20-day moving average (MA) of 0.23, above the 50-day MA of 0.31, and above the 200-day MA of 0.28, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 40.99 is Neutral, neither overbought nor oversold. The STOCH value of 70.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:CXO.
Core Lithium 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% | |
56 Neutral | AU$679.57M | 0.62 | 78.56% | ― | ― | ― | |
49 Neutral | AU$246.97M | -34.62 | -4.08% | ― | ― | -76.87% | |
47 Neutral | AU$620.45M | -50.54 | -3.06% | ― | ― | -97.14% | |
44 Neutral | AU$728.28M | -21.43 | -8.08% | 2.98% | ― | 10.09% | |
44 Neutral | AU$273.51M | -9.55 | -10.92% | ― | ― | -69.23% | |
43 Neutral | AU$70.84M | -2.71 | -16.39% | ― | ― | 6.19% |
* Basic Materials Sector Average
AU:CXO
Core Lithium Ltd
0.23
0.10
80.00%
AU:LKE
Lake Resources N.L.
0.03
>-0.01
-17.14%
AU:EUR
European Lithium
0.39
0.13
50.00%
AU:GLN
Galan Lithium Limited
0.22
0.06
38.71%
AU:GL1
Global Lithium Resources Ltd.
0.89
0.37
71.15%
AU:PMT
Patriot Battery Metals Inc Shs Chess Depository Interests Repr 1 Sh
0.33
-0.07
-17.50%
Core Lithium Ltd Corporate Events
Core Lithium Sets Date and Access Details for 2026 AGM
Oct 22, 2026
Core Lithium Ltd has announced details for its 2026 Annual General Meeting, which will be held in person at Grant Thornton Australia’s offices in Perth on 25 November at 9:00 a.m. AWST. The company has released its Notice of Meeting and expl...
Core Lithium drills longest high-grade intersection at Blackbeard
Oct 19, 2026
Core Lithium has reported thick, high-grade lithium intersections from diamond drilling at the Blackbeard prospect within its 100%-owned Finniss Lithium Operation. Key holes include NMRD104, which delivered the longest mineralised intersection at ...
Core Lithium hits first concentrate milestone as Finniss restart gathers pace
Oct 13, 2026
Core Lithium reported strong progress at its Finniss Lithium Operation in the September quarter, producing its first new spodumene concentrate less than six months after the restart investment decision. Commissioning and optimisation of the upgrad...
Core Lithium to Pair September Quarterly Report with Investor Webcast
Oct 11, 2026
Core Lithium Ltd will release its Quarterly Activities Report for the period ended 30 September 2026 on 14 October 2026, alongside a live webcast presentation. The webcast will include a QA session and a recording will be made available on the com...
Core Lithium Sets Date and Director Nomination Deadline for 2026 AGM
Oct 5, 2026
Core Lithium has scheduled its 2026 annual general meeting for 25 November 2026, with the agenda to include the re-election of directors in line with governance requirements. The company has set 13 October 2026 as the deadline for nominations for ...
Citigroup Entities Exit Substantial Holder Status in Core Lithium
Sep 24, 2026
Citigroup Global Markets Australia Pty Limited and related Citi group entities have notified Core Lithium Ltd that they have ceased to be a substantial holder in the company as of 22 September 2026. The change follows a series of adjustments in re...
Core Lithium files 2026 corporate governance statement with ASX
Sep 24, 2026
Core Lithium Ltd has released its 2026 Corporate Governance Statement and accompanying Appendix 4G, complying with key ASX listing rule requirements on governance disclosure. The board‑approved documents outline the company’s governanc...
Core Lithium Releases 2026 Annual Report Detailing Operations and Governance
Sep 24, 2026
Core Lithium Ltd has released its 2026 Annual Report, detailing the activities and financial performance of the parent company and its subsidiaries, presented in Australian dollars and structured as a comprehensive review of its operations. The re...
Core Lithium Tightens CEO Pay Around Finniss Restart Performance
Sep 24, 2026
Core Lithium has revised the remuneration structure for Managing Director and CEO Paul Brown following an independent review, lifting his total fixed pay to $765,000 a year to reflect market benchmarks and the increasing complexity of leading the ...
Core Lithium Hits First Concentrate Milestone in Finniss Restart
Sep 7, 2026
Core Lithium has produced its first spodumene concentrate from the recommissioned processing plant at the Finniss Lithium Operation, marking a major step in the staged restart of the mine. The restart follows renewed mining at the Grants open pit ...
Core Lithium Joins S&P/ASX 300 in September Index Rebalance
Sep 4, 2026
SP Dow Jones Indices has announced its September 2026 quarterly rebalance of the SP/ASX equity benchmarks, with changes taking effect before trading opens on September 21. The SP/ASX 20 will remain unchanged, while movements across the 50, 100, 20...
Core Lithium Sells Remaining Finniss Fines Stockpile in Glencore Deal
Sep 3, 2026
Core Lithium has struck a binding marketing agreement with Glencore International to sell the remaining about 25,000 tonnes of lithium direct shipping ore fines from its Finniss operation in the Northern Territory. The base price of roughly US$285...
Core Lithium Spins Out Gold Assets as Axiant Lists on ASX
Sep 2, 2026
Core Lithium has completed the spinout of its gold and non-lithium exploration tenements into Axiant Resources, a newly listed gold-focused explorer on the ASX. The move allows Core to sharpen its operational focus on the Finniss Lithium Operation...
Core Lithium Extends High-Grade Mineralisation at BP33 as Finniss Exploration Ramps Up
Aug 10, 2026
Core Lithium has reported strong new drilling results at its BP33 deposit within the Finniss Lithium Operation, including a wide high-grade intersection designed to test extensions beyond the current mineral resource. The orebody is described as a...
Core Lithium completes funding package to drive Finniss restart
Aug 4, 2026
Core Lithium Ltd has secured the final regulatory approval needed for Tranche 2 of its convertible note funding, with the Foreign Investment Review Board clearing the issuance. The company has now received about US$44 million in Tranche 2 proceeds...
Core Lithium Issues Over 44 Million Unquoted Convertible Notes
Aug 4, 2026
Core Lithium Ltd has notified the market of the issue of 44,073,179 unquoted convertible notes, recorded under the ASX security code CXOAD. The notes were issued on 4 August 2026, as part of previously flagged transactions, and are not intended to...
Core Lithium Finalises Convertible Note Funding and Glencore Marketing Deal
Aug 4, 2026
Core Lithium has moved to complete a major financing package first flagged in March, including a A$120 million placement, a US$50 million senior loan and a US$70 million secured convertible note facility with InfraVia and Glencore. As part of the ...
Core Lithium Highlights Closing of Axiant IPO Priority Offer for Shareholders
Aug 2, 2026
Core Lithium Ltd has reminded eligible shareholders that the Priority Offer in the initial public offering of Axiant Resources Limited will close at 5:00pm AWST on 6 August 2026. The offer reserves at least $5 million of Axiant’s IPO for Cor...
Core Lithium Discloses Director Change and Indirect Shareholding
Aug 2, 2026
Core Lithium Ltd is an Australian lithium company focused on the exploration and development of lithium resources, with its fully paid ordinary shares listed on the ASX under the ticker CXO. The company operates within the battery metals sector, s...
Core Lithium Reports Lapse of 1.7 Million Performance Rights
Aug 2, 2026
Core Lithium Ltd has notified the market of the cessation of a tranche of performance rights, after 1,712,225 CXOAA performance rights lapsed when their conditional requirements were not, or could no longer be, satisfied as of late July 2026.The l...
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.