LIONTOWN RESOURCES LIMITED (LTR)
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LTR

LTR - LIONTOWN RESOURCES LIMITED

FNArena Sector : New Battery Elements
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: -7.8
Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.65

24 Mar
2025

-0.010

OPEN

$0.66

-1.52%

HIGH

$0.66

10,613,544

LOW

$0.65

TARGET
$0.755 16.2% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
LTR: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx - 2.8 - 2.7 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A N/A xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-2.8
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx0.0 M
Book Value Per Share xxxxxxxxxxxxxxx31.8
Net Operating Cash Flow xxxxxxxxxxxxxxx-47.0 M
Net Profit Margin xxxxxxxxxxxxxxx-

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-10.64 %
Return on Invested Capital xxxxxxxxxxxxxxx-7.24 %
Return on Assets xxxxxxxxxxxxxxx-6.36 %
Return on Equity xxxxxxxxxxxxxxx-10.64 %
Return on Total Capital xxxxxxxxxxxxxxx-6.72 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-712.7 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx7 M
Long Term Debt xxxxxxxxxxxxxxx454 M
Total Debt xxxxxxxxxxxxxxx461 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx123 M
Price To Book Value xxxxxxxxxxxxxxx2.85

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx665.7 M
Capex % of Sales xxxxxxxxxxxxxxx-
Cost of Goods Sold xxxxxxxxxxxxxxx1 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx59 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.0

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

1

xxxxxxxxxxx xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Citi

17/03/2025

3

Neutral

$0.60

-7.69%

Citi highlights Liontown Resources' high leverage to lithium prices and the ongoing operational ramp-up at Kathleen Valley.

An update on the capital allocation framework revealed Liontown ended the half with $193m in cash (consensus had forecast $100m), with outflows of -$253m primarily related to Kathleen Valley development, explains the broker.

Operationally, the processing plant declared commercial production on 1 January, highlight the analysts, while underground development costs will continue to be capitalised until underground production begins this calendar year.

Management maintains its 2H25 guidance and expects commercial production on the Ford offtake contract in July. 

No change to 60c target price.

FORECAST
Citi forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -0.90 cents.
Citi forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -1.00 cents.

UBS

xx/xx/xxxx

3

xxxxxxx xx xxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

5

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Jarden

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Goldman Sachs

17/03/2025

3

Neutral

$0.69

6.15%

Interim underlying earnings (EBITDA) of $66m for Liontown Resources exceeded Goldman Sachs' expectations due to capitalised commissioning costs.

The company ended the December quarter with $192m in cash and net debt of circa $500m, observes the broker, with management focused on cash preservation and potential additional debt capacity.

Commercial production at Kathleen Valley was declared on January 1, with offtakes for LG and Tesla already commenced, while Ford's offtake is expected to begin in July, highlight the analysts.

The transition to full underground mining remains on track, notes Goldman, with stoping to begin in 4Q FY25 and underground ore feeding the mill by 4Q FY26.

Management's second half guidance and broader ramp-up expectations are unchanged,

Target price slips to 69c from 71c. Neutral rating is maintained.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -2.40 cents.
Goldman Sachs forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.00 cents.

Wilsons

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Petra Capital

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

LTR STOCK CHART

FNArena News on LTR

1
Liontown Resources: Going Underground

Mar 20 2025 - Commodities
2
Australian Broker Call *Extra* Edition – Mar 18, 2025

Mar 18 2025 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Mar 17, 2025

Mar 17 2025 - Daily Market Reports
4
Weekly Ratings, Targets, Forecast Changes – 14-02-25

Feb 17 2025 - Weekly Reports
5
In Case You Missed It – BC Extra Upgrades & Downgrades – 31-01-25

Jan 31 2025 - Weekly Reports

Latest New Battery Elements News

1
Liontown Resources: Going Underground

Mar 20 2025 - Commodities
2
Material Matters: Lithium’s Debate Continues

Jan 17 2025 - Commodities
3
The Lithium Transition – A Recap Of 2024 & Thoughts On 2025

Jan 13 2025 - Commodities
4
In Brief: Lithium, Brazilian Rare Earths & Fineos

Oct 18 2024 - Weekly Reports
5
Patriot Battery Minerals: The Long Game

Jul 22 2024 - Commodities
6
Awaiting The Next Lithium Upswing

Jul 17 2024 - Feature Stories
7
Australian Broker Call *Extra* Edition – Jul 01, 2024

Jul 01 2024 - Daily Market Reports
8
Treasure Chest: A Bottom For Lithium?

Feb 05 2024 - Treasure Chest
9
Tough Times For IGO

Feb 01 2024 - Australia
10
ESG Focus: The Little Big Things – 31-10-2023

Nov 01 2023 - ESG Focus