4 much-talked about Lithium Stocks on the downfall - GXY, PLS, KDR and AJM

  • Sep 05, 2018 AEST
  • Team Kalkine
4 much-talked about Lithium Stocks on the downfall - GXY, PLS, KDR and AJM

The last month saw the fall of spot price accelerating in China, as there was a subsequent decline in the Chinese lithium carbonate prices.

Looking at the recent development on export taxes in Argentina, some lithium stocks plunged to the negative zone further. This is indicative of a cautious approach in the sector till we see some tailwinds. Here are 4 Australian stocks discussed under this sector.

Galaxy Resources Ltd (ASX: GXY) - On the financials side the company reported a solid 1H FY18 performance in which revenue and NPAT grew to US$88.4 Mn and US$11.5 Mn up by 682% and 331%, respectively in 1HFY18 as compared to the prior corresponding period (PCP). As of June 30, 2018, the group had the cash balance of US$45.1 Mn which will support to fund the required ongoing project development and optimization initiatives. The most significant change from the previous year was in EBITDA, which was of 2,878% to US$ 42.4 million in 1H 18 from US$ 1.4 million in H1 17.

The stock was last trading at low levels owing to a significant fall as at September 5, 2018. It has undergone a performance change of -31.95% over the past 12 months.

Pilbara Minerals Ltd (ASX: PLS) - It is expected that the market for lithium chemicals will continue to support a decent pricing environment while remaining relatively restricted. As at June 30, 2018, the company received $0.30 million in cash and 7,500,000 ordinary shares in Tungsten Mining NL after the company sold the Tabba Tabba processing plant assets to Tungsten. The life of mine project revenue is of $12.20 million and EBITDA of $6.30 billion The directors proposed that no dividend is to be paid or declared. The stock was last trading at a market price of $0.775 with a daily percentage decline of -3.727% as at September 5, 2018. It has undergone a performance change of 103.80% over the past 12 months. 

Kidman Resources Limited (ASX: KDR) - As at June 30, 2018, cash and cash equivalents were at $10.026 million which is boosted by $7.1 million with the conversion of KDR options. Kidman’s 50:50 joint venture partner Sociedad Quimica Minera was recently referred, for its focus on Australian project. Recently the company Marindi Metals Limited (ASX: MZN) agreed to pay $650,000 in full and final settlement, in relation to the costs orders arising from its failed litigation, in June 2018 which was paid on July 2nd, 2018. The stock was last trading at a market price of $0.990 with a daily percentage decline of -2.941% as at September 5, 2018. It has undergone a performance change of 34.21% over the past 12 months. The EPS of the stock is also trending negative at -0.037 AUD.

Altura Mining Limited (ASX: AJM) - Australia, Chile, and Argentina, are the three main countries the lithium market is predominantly served by. The company has recently announced the commencement of a geophysical survey which is utilizing the induced polarization method at its Cleopatra prospect. The company has been in discussions towards the building of the 2018 and 2019 shipping forecasts. As at the end of the period June 30, 2018, the company’s cash and cash equivalents are at $28.999 million. With shipment planned for Q3 2018 Altura’s Pilgangoora project is fully permitted from mine to port. Between 2017 and 20122 worldwide lithium compounds and metals, consumption is expected to achieve 18% CAGR. The stock was last trading at a market price of $0.245 with a daily percentage decline of -2% as at September 5, 2018. It has undergone a performance change of 51.52% over the past 12 months.

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