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E3 Lithium
(ETL)
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Rating:43Neutral
Price Target:
C$0.59
▼(-43.37% Downside)
Action:Reiterated
Date:09/23/26
The score is weighed down primarily by weak financial performance (pre-revenue, ongoing losses, and accelerating free-cash-flow burn), reinforced by bearish technicals (price below all key moving averages and negative MACD). Valuation is also a headwind because the negative P/E reflects an absence of earnings and there is no dividend yield support.
Positive Factors
Conservative Leverage
Very low debt relative to equity gives E3 Lithium financial flexibility while it advances its project. A conservative capital structure reduces interest burden and near-term balance-sheet pressure, allowing more of its available resources to support development and milestone execution.
Negative Factors
Pre-Revenue Business
E3 Lithium has not yet demonstrated revenue generation or positive gross economics, confirming that its project remains pre-commercial. Until sales begin, the company cannot rely on operating income to fund development, making future financial performance dependent on successful execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Leverage
Very low debt relative to equity gives E3 Lithium financial flexibility while it advances its project. A conservative capital structure reduces interest burden and near-term balance-sheet pressure, allowing more of its available resources to support development and milestone execution.
Read all positive factors
E3 Lithium (ETL) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$55.40M
Dividend YieldN/A
Average Volume (3M)289.50K
Price to Earnings (P/E)―
Beta (1Y)0.96
Revenue GrowthN/A
EPS Growth40.09%
CountryCA
Employees35
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.08
Shares Outstanding87,931,290
10 Day Avg. Volume298,750
30 Day Avg. Volume289,503
Financial Highlights & Ratios
PEG Ratio0.30
Price to Book (P/B)1.30
Price to Sales (P/S)0.00
P/FCF Ratio-14.17
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.11
Revenue Forecast (FY)N/A
E3 Lithium Business Overview & Revenue Model
Company Description
E3 Lithium Ltd., formerly E3 Metals Corp. until its rebranding in July 2022, is a natural resources enterprise. The company's core activity revolves around developing innovative technologies for extracting lithium from the brine reserves found wit...
E3 Lithium Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
66
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -353.00K | -380.00K | -267.00K | -179.00K | -175.00K | -128.00K |
| EBITDA | -10.05M | -9.76M | -9.39M | -9.48M | -6.74M | -4.63M |
| Net Income | -6.58M | -6.20M | -9.70M | -9.04M | -7.26M | -4.80M |
Balance Sheet | ||||||
| Total Assets | 61.47M | 63.35M | 54.97M | 61.99M | 36.10M | 25.99M |
| Cash, Cash Equivalents and Short-Term Investments | 7.92M | 16.32M | 19.32M | 30.02M | 13.25M | 17.84M |
| Total Debt | 658.00K | 751.00K | 916.00K | 637.00K | 584.00K | 266.00K |
| Total Liabilities | 10.05M | 7.77M | 4.24M | 4.83M | 2.63M | 990.00K |
| Stockholders Equity | 51.42M | 55.58M | 50.73M | 57.15M | 33.47M | 25.00M |
Cash Flow | ||||||
| Free Cash Flow | -20.00M | -5.11M | -6.98M | -8.41M | -9.47M | -5.58M |
| Operating Cash Flow | -7.30M | -5.09M | -6.68M | -5.86M | -5.49M | -2.85M |
| Investing Cash Flow | -9.82M | -8.46M | -10.71M | -13.81M | -12.71M | -3.36M |
| Financing Cash Flow | 17.65M | 10.55M | 6.69M | 36.44M | 13.60M | 17.33M |
E3 Lithium Technical Analysis
Negative
1.04
Price Trends
0.92
Negative
1.03
Negative
1.09
Negative
Market Momentum
-0.10
Positive
26.95
Positive
22.47
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ETL, the sentiment is Negative. The current price of 1.04 is above the 20-day moving average (MA) of 0.74, above the 50-day MA of 0.92, and below the 200-day MA of 1.09, indicating a bearish trend. The MACD of -0.10 indicates Positive momentum. The RSI at 26.95 is Positive, neither overbought nor oversold. The STOCH value of 22.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:ETL.
E3 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% | |
51 Neutral | C$37.09M | -7.51 | -71.25% | ― | ― | 74.25% | |
44 Neutral | C$73.70M | 23.51 | 5.73% | ― | ― | 51.81% | |
44 Neutral | C$73.73M | -5.82 | -35.01% | ― | ― | 13.65% | |
43 Neutral | C$55.40M | -7.63 | -13.05% | ― | ― | 40.09% | |
42 Neutral | C$48.76M | -18.03 | -4.21% | ― | ― | 6.37% |
* Basic Materials Sector Average
TSE:ETL
E3 Lithium
0.63
-0.44
-41.12%
TSE:LCE
Century Lithium
0.25
-0.04
-15.25%
TSE:LITH
Lithium Chile Inc
0.29
-0.15
-34.09%
TSE:RCK
Rock Tech Lithium
0.57
-0.30
-34.48%
TSE:LBNK
LithiumBank Resources Corp.
0.51
0.13
34.21%
E3 Lithium Corporate Events
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
E3 Lithium Warrants to Begin Trading on TSX Venture Exchange
Positive
Sep 30, 2026
E3 Lithium has confirmed that 12,782,250 common share purchase warrants issued in its recent equity offering are expected to begin trading on the TSX Venture Exchange on October 2, 2026 under the symbol ETL.WT.A. Each warrant allows investors to a...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
E3 Lithium Advances Clearwater Project With Federal Funding and New Offtake Deals
Positive
Sep 29, 2026
E3 Lithium has reported steady progress at its Clearwater Project, with Phase 2 of its Demonstration Facility nearing completion and preparations underway to ramp up Phase 3 focused on lithium carbonate production. The company is expanding its Dir...
Business Operations and StrategyPrivate Placements and Financing
E3 Lithium Upsizes Equity Financing to C$10 Million on Strong Demand
Positive
Sep 17, 2026
E3 Lithium has increased the size of its previously announced best-efforts public equity offering in response to strong investor demand, lifting expected gross proceeds from about C$8.5 million to roughly C$10 million through the sale of 11,115,00...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
E3 Lithium Launches C$8.5 Million Equity Financing to Advance Clearwater Project
Positive
Sep 16, 2026
E3 Lithium has arranged a best-efforts public equity financing of approximately C$8.5 million, issuing 9,450,000 units at C$0.90 per unit, each consisting of one common share and one warrant exercisable at C$1.10 for 36 months. The syndicate led b...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresPrivate Placements and Financing
E3 Lithium Advances Clearwater Project With New Funding, Partnerships and Q2 Milestones
Positive
Aug 21, 2026
E3 Lithium reported its second-quarter 2026 results, highlighting significant progress toward commercializing the Clearwater Project, including commissioning Phase 2 of its Demonstration Facility with validated reservoir performance. The company a...
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.