CXO to XTC: How did these ASX lithium stocks perform in June quarter?

4 min read | July 29, 2022 04:50 PM AEST | By Bhawna Gupta

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CXO to XTC: How did these ASX lithium stocks perform in June quarter? — Image source: © Stokdrozdirina | Megapixl.com

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Highlights:

Listed-companies file three quarterly earnings reports per year, at the end of each of their quarters and an annual report that features the fourth quarter’s results.

Investors eagerly wait for these quarterly business updates.

Lithium-focused firms like Core Lithium, Pilbara Minerals among others, shared their June quarterly updates recently.

Earnings season is on, be it Australia, US, or India. Publicly traded companies are releasing their quarterly financial reports along with some coming up with annual ones too. Listed companies are generally required to file three quarterly earnings reports per year, at the end of each of their quarters and an annual report that features the fourth quarter’s results.

These quarterly reports are eagerly awaited and, depending on how the numbers turn out, can either make investors buy or sell the stock.

A baseline to compare actual earnings outcomes is established using analyst consensus expectations and a company's own guidance estimations.

However, investors should be aware of what to anticipate, and they should also conduct their own research to identify opportunities during earnings season.

But bear in mind that since these are only estimates, they might never be the same from one analyst to the next. This is so that various analysts may use different metrics to generate their estimates. Therefore, while meeting, missing, or beating projections shouldn't be a major factor in your investment selections, it is nevertheless important to monitor how firms' quarterly earnings compare to actual results.

On that note, in this story, we will talk about four lithium stocks of some known companies that have recently released their quarterly reports. These companies include Core Lithium, Prospect Resources, Pilbara Mienrals and Xantippe Resources.

Image Source: Nicoelnino | Megapixl.com

Core Lithium Ltd

On 27 July 2022, Core Lithium Ltd (ASX:CXO) shared its activities report for three months ended 30 June 2022.

The Finniss Project's construction activities were progressed during the quarter, according to Core, which also reported receiving the final 2021 lithium drilling samples, updating MRE and ORE, and extending the mine's life to 12 years.
The Finniss Lithium Project (Finniss) puts Core at the forefront of new lithium production across the world and is Australia's most advanced new lithium project listed on the ASX.
With perhaps the greatest logistics network to markets of any Australian lithium project, Finniss is one of the most capital-effective lithium projects.
During this quarter, the business also purchased the Shoobridge Project, a new NT lithium project.

Meanwhile, shares of Core Lithium were trading almost 2% higher at AU$1.15 per share at 3.16 PM AEST on 29 July 2022.

Prospect Resources Limited

Last Friday (22 July 2022), Prospect Resources Limited (ASX:PSC) shared its June quarter's activities report.

Highlights of the quarterly report

Data Source- Company announcement dated 22July 2022

Meanwhile, Prospect shares were spotted trading at AU$0.120 apiece, up 2.08% on ASX today at 3.16 PM AEST.

Pilbara Minerals Limited

Pilbara Minerals Limited (ASX:PLS), another top lithium company, shared its June 2022 quarterly activities report on Thursday (28 July 2022).

The company informed in an ASX filing, that production and price are up for the quarter, and there is a good operating cashflow. Moreover, Pilgangoora's next round of expansion has been approved.

Data Source- Company announcement dated 28 July 2022

Meanwhile, Pilbara Minerals' shares were trading 0.92% higher at AU$2.76 each on ASX today at 3.17 PM AEST.

Xantippe Resources Limited

Xantippe Resources Limited (ASX:XTC) shared its quarterly activities report of June quarter today (29 July 2022).

Key points from the report

Data Source- Company announcement dated 29 July 2022

Meanwhile, Xantippe Resources' shares tumbled around 11%, found trading at AU$0.008 on ASX today at 3.17 PM AEST.

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