ATLANTIC LITHIUM LIMITED. (A11)
Share Price Analysis and Chart

17/10/2024

3

Downgrade to Neutral from Outperform

$0.30

36.36%

Since the beginning of September lithium prices in China have remained largely stable, highlights Macquarie, while recent global M&A activity has provided validation for the long-term value of lithium projects.

The broker largely keeps target prices unchanged for ASX lithium stocks under coverage but downgrades several ratings following a rebound in lithium equity market sentiment and rising share prices.

For Atlantic Lithium, Macquarie's rating is downgraded to Neutral from Outperform. The 30c target price is unchanged.

FORECAST
Macquarie forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -3.10 cents.
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -3.80 cents.

06/11/2024

1

Overweight

$0.85

286.36%

Wilsons incorporates the impact of Atlantic Lithium’s $10m capital raise and takes the opportunity to revise some project assumptions.

Atlantic remains the broker's preferred junior lithium developer; underpinned by robust project economics, additional geological
upside potential and established funding arrangements.

Wilsons anticipates Ghanaian Parliamentary ratification of the Ewoyaa mining lease to trigger for a number of positive catalysts in the March Q, but has prudently chosen to make some conservative changes to  project modelling.

Target falls to 85c from $1.05, Overweight retained.

FORECAST
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -3.00 cents.
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -1.00 cents.