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Core Lithium Ltd
(Sydney:CXO)
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Rating:42Neutral
Price Target:
AU$0.22
▼(-40.00% Downside)
Action:Reiterated
Date:07/31/26
The score is primarily driven by weak financial performance, marked by negative profitability and negative operating/free cash flow, which outweigh the balance sheet’s relatively low leverage. Technicals also detract as the stock trades below all key moving averages, signaling a persistent downtrend. Valuation provides limited support because the negative P/E reflects losses and dividend yield data is unavailable.
Positive Factors
Conservative leverage
A relatively low debt-to-equity profile gives Core Lithium durable financial flexibility to fund development, withstand commodity cycles, and avoid heavy interest burdens. Over 2-6 months this reduces refinancing pressure and preserves optionality for project funding or opportunistic capex.
Negative Factors
Revenue collapse
A reported -100% revenue growth indicates near-total revenue loss, a material weakening of core cash generation. Persistently low or zero revenue undermines ability to cover fixed and development costs, increasing reliance on external funding and threatening project timelines.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative leverage
A relatively low debt-to-equity profile gives Core Lithium durable financial flexibility to fund development, withstand commodity cycles, and avoid heavy interest burdens. Over 2-6 months this reduces refinancing pressure and preserves optionality for project funding or opportunistic capex.
Read all positive factors
Core Lithium Ltd (CXO) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.10B
Dividend Yield2.98%
Average Volume (3M)23.73M
Price to Earnings (P/E)―
Beta (1Y)1.88
Revenue Growth-100.00%
EPS Growth59.85%
CountryAU
Employees7
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.01
Shares Outstanding3,236,801,800
10 Day Avg. Volume24,787,666
30 Day Avg. Volume23,728,704
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)0.90
Price to Sales (P/S)-86.69
P/FCF Ratio-3.31
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.28Price Target Upside-23.61% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.02
Revenue Forecast (FY)AU$257.49M
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...
How the Company Makes Money
Core Lithium’s primary way of making money is through the sale of lithium-containing product (typically spodumene concentrate) produced from its mining and processing operations, where in operation. Under this model, revenue is generated by: (1) e...
Core Lithium Ltd Earnings Call Summary
Earnings Call Date:Sep 26, 2024
(Q4-2024)
| % Change Since: |
Next Earnings Date:Sep 24, 2026
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
20
Very Negative
Balance Sheet
45
Neutral
Cash Flow
30
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | -2.42M | 189.49M | 50.60M | 0.00 | 0.00 |
| Gross Profit | 6.66M | -3.01M | 30.90M | 30.61M | -116.13K | -136.81K |
| EBITDA | -17.32M | -14.38M | -163.06M | 15.56M | -7.25M | -2.77M |
| Net Income | -25.48M | -23.37M | -207.01M | 10.81M | -7.47M | -2.91M |
Balance Sheet | ||||||
| Total Assets | 287.18M | 268.44M | 323.96M | 503.14M | 261.85M | 73.19M |
| Cash, Cash Equivalents and Short-Term Investments | 52.22M | 24.06M | 88.18M | 152.95M | 135.39M | 38.19M |
| Total Debt | 6.63M | 2.91M | 3.53M | 22.94M | 2.09M | 102.34K |
| Total Liabilities | 20.49M | 34.16M | 67.09M | 148.22M | 23.13M | 1.88M |
| Stockholders Equity | 266.69M | 234.28M | 256.87M | 354.92M | 238.72M | 71.31M |
Cash Flow | ||||||
| Free Cash Flow | -52.81M | -63.34M | -165.17M | -74.80M | -75.44M | -10.34M |
| Operating Cash Flow | -34.31M | -43.93M | -77.94M | 90.81M | -6.22M | -2.34M |
| Investing Cash Flow | -17.11M | -19.85M | -88.64M | -171.62M | -70.56M | -8.37M |
| Financing Cash Flow | 50.38M | -626.00K | 102.39M | 97.79M | 173.87M | 40.20M |
Core Lithium Ltd Technical Analysis
Neutral
0.36
Price Trends
0.30
Positive
0.30
Positive
0.28
Positive
Market Momentum
0.02
Positive
50.28
Neutral
<0.01
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CXO, the sentiment is Neutral. The current price of 0.36 is below the 20-day moving average (MA) of 0.36, above the 50-day MA of 0.30, and above the 200-day MA of 0.28, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 50.28 is Neutral, neither overbought nor oversold. The STOCH value of <0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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% | |
49 Neutral | AU$184.53M | -3,325.00 | -0.02% | ― | ― | 99.44% | |
45 Neutral | AU$856.42M | -70.72 | -3.06% | ― | ― | -97.14% | |
43 Neutral | AU$621.51M | 0.50 | 154.06% | ― | ― | ― | |
42 Neutral | AU$1.10B | -32.38 | -10.17% | 2.98% | -100.00% | 59.85% | |
42 Neutral | AU$106.88M | -3.06 | -19.15% | ― | ― | 17.32% | |
42 Neutral | AU$519.69M | -45.56 | -4.22% | ― | ― | 56.94% |
* Basic Materials Sector Average
AU:CXO
Core Lithium Ltd
0.33
0.23
214.29%
AU:LKE
Lake Resources N.L.
0.04
0.01
41.94%
AU:EUR
European Lithium
0.36
0.26
281.72%
AU:GLN
Galan Lithium Limited
0.40
0.25
163.33%
AU:GL1
Global Lithium Resources Ltd.
0.63
0.32
103.23%
AU:PMT
Patriot Battery Metals Inc Shs Chess Depository Interests Repr 1 Sh
0.46
0.04
9.52%
Core Lithium Ltd Corporate Events
Core Lithium appoints Anna Neuling to board with no initial shareholding
Jul 23, 2026
Core Lithium Ltd has appointed Anna Neuling as a director effective 24 July 2026, formalising her entry to the board in line with ASX disclosure requirements. The company reported that Neuling currently holds no relevant interests in Core Lithium ...
Core Lithium refreshes board as Finniss lithium operation returns to production
Jul 23, 2026
Core Lithium has strengthened its board by appointing experienced resources executive and chartered accountant Anna Neuling as an independent non-executive director, effective 24 July 2026, with responsibility for chairing the audit committee as t...
Core Lithium Sets Date for June Quarter Report and Investor Webcast
Jul 12, 2026
Core Lithium will release its June quarter activities report on 15 July 2026, accompanied by a live webcast for investors and other stakeholders. A recording of the webcast will be made available on the company’s website after the event, und...
Core Lithium starts BP33 underground decline as Finniss logistics deliver first shipment
Jun 22, 2026
Core Lithium has commenced underground decline development at the BP33 deposit within its Finniss Lithium Project, after contractor Develop Global mobilised to site and the portal cut was completed. This marks a key milestone in the staged ramp-up...
Core Lithium launches Finniss drilling push and expands Bynoe footprint
Jun 19, 2026
Core Lithium has launched a near-mine brownfields exploration program at the Finniss Lithium Operation, prioritising the Blackbeard prospect to support a maiden Mineral Resource Estimate and assess its potential as a future source of high-grade or...
Core Lithium locks in second Glencore sale as Finniss ramp-up advances
Jun 9, 2026
Core Lithium has signed a second binding agreement with Glencore International to sell 25,000 tonnes of lithium fines from its Finniss Lithium Operation, following an initial 20,000-tonne sale in April. The deal, priced at about US$270 per tonne C...
Core Lithium Director Increases Stake Through Share Placement
May 8, 2026
Core Lithium has disclosed a change in director Paul Brown’s indirect interest in the company following a shareholder-approved share placement. Brown, as a beneficiary of a trust holding his interests, acquired 2,380,952 fully paid ordinary ...
Core Lithium director Alicia Sherwood acquires first stake via share placement
May 8, 2026
Core Lithium Ltd disclosed a change in director Alicia Sherwood’s interests, with the executive acquiring 238,095 fully paid ordinary shares in the company. The shares were issued via a shareholder-approved placement at a consideration of ap...
Core Lithium seeks ASX quotation for over 320 million new shares
May 8, 2026
Core Lithium Ltd has applied for quotation on the ASX of 320,348,255 new ordinary fully paid shares, to be issued on May 8, 2026, under its ticker CXO. The additional securities, previously flagged in an Appendix 3B, will expand the company’...
Core Lithium Secures Second Tranche of Finniss Funding as Project Ramps Up
May 8, 2026
Core Lithium has completed the second tranche of its A$120 million equity raising to fund the Finniss Lithium Project, issuing about 320 million new shares to secure roughly A$67 million before costs. Shareholders also approved the second tranche ...
Core Lithium Investors Back Capital Raisings and Director Share Issues at 2026 Meeting
May 5, 2026
Core Lithium shareholders have approved all resolutions put to the 2026 general meeting, providing clear backing for the company’s current financing and incentive plans. Key items passed by poll included the ratification of prior issues and ...
Core Lithium Sells 20,000t of Finniss Lithium Fines to Glencore
Apr 30, 2026
Core Lithium has signed a binding agreement with Glencore International to sell about 20,000 tonnes of lithium DSO fines from its Finniss project at a base price of US$290 per tonne CIF, with shipment scheduled via Darwin Port in May 2026 and proc...
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.