Want to see AU:ELV full AI Analyst Report?
Top Page
Elevra Lithium
(Sydney:ELV)
Select Model
Select Model
Rating:50Neutral
Price Target:
AU$8.50
â–²(2.41% Upside)
Action:Reiterated
Date:08/29/26
Overall score is held back primarily by weak financial performance—especially persistent negative operating and free cash flow and concerns around earnings quality—alongside a technically bearish price trend. These risks are partly offset by a more reasonable P/E and a comparatively positive earnings update (improved pricing/EBITDA, stronger cash position, and clearer expansion execution plan), though higher near-term costs and capex temper the upside.
Positive Factors
Funded NAL Expansion
The funded brownfield expansion offers a durable route to materially higher production capacity and lower life-of-mine costs. Stage 1 is targeted for 2027, while execution has already started, giving the company a defined multi-year growth platform.
Negative Factors
Persistent Negative Cash Flow
Sustained negative operating and free cash flow indicates that reported earnings are not yet translating into internally generated funding. If this persists during expansion, the company may remain exposed to working-capital needs and financing or execution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Funded NAL Expansion
The funded brownfield expansion offers a durable route to materially higher production capacity and lower life-of-mine costs. Stage 1 is targeted for 2027, while execution has already started, giving the company a defined multi-year growth platform.
Read all positive factors
Elevra Lithium (ELV) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.52B
Dividend YieldN/A
Average Volume (3M)1.42M
Price to Earnings (P/E)13.2
Beta (1Y)1.82
Revenue Growth-8.06%
EPS GrowthN/A
CountryAU
Employees246
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)0.60
Shares Outstanding194,016,020
10 Day Avg. Volume1,570,948
30 Day Avg. Volume1,415,446
Financial Highlights & Ratios
PEG Ratio-0.21
Price to Book (P/B)1.43
Price to Sales (P/S)7.10
P/FCF Ratio-15.01
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$13.73Price Target Upside65.36% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.67
Revenue Forecast (FY)AU$405.91M
Elevra Lithium Business Overview & Revenue Model
Company Description
Elevra Lithium Limited, together with its subsidiaries, engages in the identification, acquisition, exploration, and development of mineral assets in Australia and Canada. The company explores for lithium, graphite, and gold deposits. Its flagship...
Elevra Lithium Earnings Call Summary
Earnings Call Date:Aug 27, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Mar 03, 2027
Earnings Call Sentiment Positive
The call presented a materially improved commercial, operational and financial position: strong realized price gains (+57%), a return to positive underlying EBITDA, a substantially stronger cash position ($255M) and a fully funded NAL expansion that has moved into execution. These positives were balanced by modest production and shipment declines, temporary mining headwinds, weaker cash conversion during the year, and higher near-term unit costs and capital intensity tied to expansion activities. Management highlighted improving operational metrics (Q4 recoveries, 92% mill utilization) and significant strategic progress (merger synergies, Mangrove agreement, portfolio rationalization), which together outweigh the transitory operational and timing challenges reported.Positive Updates
Strong Revenue Growth
Revenue of $202 million in FY'26, up 39% versus FY'25, driven by higher realized prices despite lower shipment volumes.
Negative Updates
Moderate Production and Shipments Decline
Production at NAL declined modestly (management cited ~198,000 tonnes; CFO cited ~188,000 dmt, ~3% below prior year). Sales volumes fell to ~181,000 dmt, down 13% due to timing of shipments and a port transition; inventory built to ~41,000 dmt at year-end.
Read all updates
Q4-2026 Updates
Positive
Negative
Strong Revenue Growth
Revenue of $202 million in FY'26, up 39% versus FY'25, driven by higher realized prices despite lower shipment volumes.
Read all positive updates
Company Guidance
Elevra guided FY‑27 spodumene concentrate production of 198,000–210,000 tonnes (≈+5.2% year‑on‑year) and concentrate sales of 200,000–230,000 tonnes (modestly weighted to H1), with unit operating costs of $880–$950/tonne sold (up from $853/t in FY‑26 due to higher mining intensity and a strip ratio of ~10% vs 9.1%), and total FY‑27 capital expenditure of $120–$140 million (including ~ $20 million sustaining capex at NAL and growth spend on the NAL expansion and Moblan studies). Management reiterated the NAL Brownfield Expansion total project cost of USD 270 million (Stage 1 ≈ $70m, Stage 2 ≈ $60m, Stage 3 ≈ $140m), expects to expand milling from permitted 4,500 tpd to 6,500 tpd raising average annual concentrate capacity from ~194,000 to ~338,000 tpa and reducing life‑of‑mine C1 cost to $628/tonne, targets Stage 1 completion in calendar 2027 (delivering a ~15–20% uplift), and pointed to FY‑26 operational baselines of 71% recoveries in Q4 and 92% mill utilization supporting the FY‑27 outlook.Elevra Lithium Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
66
Positive
Cash Flow
28
Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 210.93M | 223.37M | 200.87M | 1.70M | 387.00K |
| Gross Profit | -81.04M | 146.98M | 178.29M | -4.47M | 337.00K |
| EBITDA | -39.49M | -341.66M | -78.09M | -19.03M | -20.57M |
| Net Income | 63.56M | -294.29M | -101.40M | -13.63M | 58.89M |
Balance Sheet | |||||
| Total Assets | 1.37B | 652.71M | 952.51M | 1.01B | 661.16M |
| Cash, Cash Equivalents and Short-Term Investments | 368.47M | 72.29M | 90.62M | 211.12M | 184.56M |
| Total Debt | 112.71M | 77.55M | 30.62M | 31.21M | 23.47M |
| Total Liabilities | 317.28M | 177.27M | 156.88M | 124.75M | 100.54M |
| Stockholders Equity | 1.05B | 420.22M | 665.04M | 756.16M | 504.02M |
Cash Flow | |||||
| Free Cash Flow | -99.81M | -64.42M | -193.37M | -259.84M | -45.67M |
| Operating Cash Flow | -64.35M | -14.79M | -64.64M | -66.48M | -13.64M |
| Investing Cash Flow | 17.62M | -49.63M | -114.04M | -129.92M | -237.44M |
| Financing Cash Flow | 355.07M | 46.08M | 60.34M | 221.25M | 408.25M |
Elevra Lithium 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% | |
50 Neutral | AU$1.52B | 13.15 | 7.25% | ― | -8.06% | ― | |
50 Neutral | AU$519.69M | -45.56 | -4.22% | ― | ― | 56.94% | |
45 Neutral | AU$1.25B | -4.78 | -8.40% | ― | -3.54% | -49.86% | |
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% |
* Basic Materials Sector Average
AU:ELV
Elevra Lithium
7.89
4.44
128.70%
AU:CXO
Core Lithium Ltd
0.34
0.24
223.81%
AU:LKE
Lake Resources N.L.
0.05
0.01
45.16%
AU:EUR
European Lithium
0.36
0.27
287.10%
AU:GLN
Galan Lithium Limited
0.41
0.26
173.33%
AU:VUL
Vulcan Energy Resources Ltd.
2.62
-0.79
-23.23%
Elevra Lithium Corporate Events
Elevra Lithium posts stronger FY26 results and fully funds NAL expansion
Aug 27, 2026
Elevra Lithium reported its first full-year results as a merged group, highlighting improved safety performance at the North American Lithium mine, record ore mined and updated resource and reserve estimates at NAL and Moblan that bolster its grow...
Elevra Lithium Swings to Profit as Merger Builds North American Lithium Platform
Aug 27, 2026
Elevra Lithium Limited reported a sharp turnaround for the year ended 30 June 2026, with revenue rising 39% to $201.7 million and a net profit of $43.1 million after a $190.5 million loss in the prior year. Despite the improved performance and a s...
Elevra Secures Long-Term Spodumene Supply Deal with Mangrove Lithium
Aug 20, 2026
Elevra Lithium has signed a binding seven-year supply agreement with Mangrove Lithium to deliver up to 144,000 dry metric tonnes per year of 6% spodumene concentrate from its North American Lithium mine in Québec, with an option for a further...
Elevra Lithium sets date for FY26 results and investor webcast
Aug 17, 2026
Elevra Lithium has scheduled the release of its FY26 financial results and annual report for 28 August 2026, underscoring a regular disclosure cadence to its dual-listed investor base on the ASX and NASDAQ. The company will accompany the results w...
Elevra Lithium Sells Tabba Tabba Pegmatite Rights to Fund North American Growth
Aug 6, 2026
Elevra Lithium has completed the sale of all rights, interests and obligations over exploration tenement E45/2364, known as Tabba Tabba in Western Australia, to Wildcat Resources. The deal delivers A$16 million in cash and Wildcat shares, along wi...
Elevra Lithium boosts output and locks in funding for North American expansion
Jul 27, 2026
Elevra Lithium reported a strong June 2026 quarter at its North American Lithium mine, with record monthly output, high plant utilisation and improved lithium recoveries, although sales volumes and realised prices fell as a legacy contract ended. ...
Elevra Lithium Sets Date for June Quarter Results Webcast
Jul 21, 2026
Elevra Lithium has scheduled the release of its June 2026 Quarterly Activities Report for 28 July 2026, alongside an investor webcast to discuss the quarterly results. The webcast will commence at 9:30am AEST on 28 July, with a corresponding 7:30p...
Elevra Lithium Issues New Unquoted Performance Rights Under Incentive Plan
Jul 7, 2026
Elevra Lithium Limited has notified the market of the issuance of 2,160 unquoted performance rights under its employee incentive scheme. The new rights, which are not intended to be quoted on the ASX, were issued on June 30, 2026, and reflect the ...
Elevra Lithium Issues New Shares Following Option Conversions
Jul 6, 2026
Elevra Lithium Limited, listed on the ASX under the ticker ELV, operates in the lithium sector, focusing on activities aligned with the production or development of lithium-related assets. The company’s ordinary fully paid shares trade publi...
Elevra Lithium Reports Lapse of Performance Rights
Jul 3, 2026
Elevra Lithium Limited has confirmed the lapse of 49,990 performance rights, identified under the ASX code ELVAM, after the conditions attached to these rights were not met by 30 June 2026. The cessation of these conditional securities slightly re...
Elevra Lithium Issues Over 5.2 Million Unquoted Options
Jun 30, 2026
Elevra Lithium Limited has notified the market of the issue of 5,276,387 unquoted options, exercisable at $4.80 and expiring on 31 December 2028. The options, recorded under ASX code ELVAN, were issued on 30 June 2026 and form part of previously a...
Morgan Stanley Ceases to Be Substantial Holder in Elevra Lithium
Jun 29, 2026
Morgan Stanley and its subsidiaries have notified Elevra Lithium that they have ceased to be a substantial shareholder in the company as of June 24, 2026, under Australia’s substantial holding disclosure rules. The change follows a series of...
Mitsubishi UFJ exits substantial holding in Elevra Lithium
Jun 29, 2026
Mitsubishi UFJ Financial Group has lodged a notice stating it has ceased to be a substantial holder in Elevra Lithium Limited, following a series of share transactions dated 24 June 2026. The change in substantial holding stems from purchases of E...
Elevra Breaks Ground on Fully Funded North American Lithium Expansion
Jun 28, 2026
Elevra Lithium has broken ground on its fully funded North American Lithium Expansion Project, following a May 2026 capital raise that strengthened its balance sheet and secured financing for staged growth. The company has already ordered key equi...
Index Shake-Up Puts Elevra Lithium Into S&P/ASX 200 as S&P Dow Jones Rebalances Benchmarks
Jun 5, 2026
SP Dow Jones Indices has announced its June 2026 quarterly rebalance of the SP/ASX indices, with ALS Limited joining the SP/ASX 50 and Paladin Energy Limited entering the SP/ASX 100, while Pro Medicus and Metcash are removed from those benchmarks....
Elevra Lithium director boosts stake via share purchase plan
Jun 5, 2026
Elevra Lithium Limited has disclosed a change in director Lucas Dow’s interests, with Dow Group Investments Trust acquiring 2,460 fully paid ordinary shares for A$30,000 under the company’s share purchase plan. Following this transacti...
Elevra Lithium Director Boosts Stake via Share Purchase Plan
Jun 5, 2026
Elevra Lithium director Laurie Lefcourt has increased his direct holding in the company, purchasing 1,230 fully paid ordinary shares on 5 June 2026 under the company’s share purchase plan. The A$15,000 on-market investment lifts LefcourtR...
Elevra Lithium Seeks ASX Quotation for New Share Issue
Jun 5, 2026
Elevra Lithium Limited has applied to the ASX for quotation of 1,275,668 new ordinary fully paid shares under its ELV ticker, with an issue date of June 5, 2026. The additional securities, issued as part of a previously announced transaction, will...
Elevra Lithium Leverages Strong FY26 Output to Drive North American Growth Plans
Jun 1, 2026
Elevra Lithium reported year-to-date fiscal 2026 production of 143,489 dry metric tonnes of lithium concentrate and sales of 147,517 tonnes, achieving 66% recovery and generating US$167 million in revenue at unit operating costs of US$840 per tonn...
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.