LIONTOWN LIMITED (LTR)
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LTR

LTR - LIONTOWN LIMITED

FNArena Sector : New Battery Elements
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: -31.07
Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.42

04 May
2026

-0.220

OPEN

$2.62

-8.33%

HIGH

$2.62

17,152,519

LOW

$2.41

TARGET
$2.228 -7.9% downside
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FNARENA'S MARKET CONSENSUS FORECASTS
LTR: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 8.0 2.0 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 118.0 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 © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-8.0
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx297.6 M
Book Value Per Share xxxxxxxxxxxxxxx23.9
Net Operating Cash Flow xxxxxxxxxxxxxxx-11.1 M
Net Profit Margin xxxxxxxxxxxxxxx-64.95 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-28.62 %
Return on Invested Capital xxxxxxxxxxxxxxx-17.08 %
Return on Assets xxxxxxxxxxxxxxx-13.11 %
Return on Equity xxxxxxxxxxxxxxx-28.62 %
Return on Total Capital xxxxxxxxxxxxxxx-14.11 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-341.8 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx373 M
Long Term Debt xxxxxxxxxxxxxxx458 M
Total Debt xxxxxxxxxxxxxxx831 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx156 M
Price To Book Value xxxxxxxxxxxxxxx2.93

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx330.7 M
Capex % of Sales xxxxxxxxxxxxxxx111.13 %
Cost of Goods Sold xxxxxxxxxxxxxxx449 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx35 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

0.3

No. Of Recommendations

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

Morgans

xx/xx/xxxx

4

xxxxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

01/05/2026

1

Buy

$2.90

19.83%

Liontown reported softer 3Q26 production, with output of 96.3kt spodumene concentrate below UBS' expectations due to lower recoveries and slightly weaker throughput.

Unit costs increased to $1,251/t, though the company generated $33m in net cash flow, marking an early shift to cash build supported by improving lithium prices.

Guidance is unchanged, with focus now on ramping operations and progressing the 4Mtpa expansion, with a study update due in Q127.

Operationally, underground mining is ramping faster than planned, supporting improving recoveries and longer-term production growth.

UBS lifts lithium price assumptions, driving upgrades to earnings forecasts and valuation. Buy retained, target raised to $2.90 from $2.20.

FORECAST
UBS forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.00 cents.
UBS forecasts a full year FY27 dividend of 0.00 cents and EPS of 44.00 cents.

Ord Minnett

xx/xx/xxxx

3

xxxxxxxxx xx xxxx xxxx xxxxxxxxxx

$xx.xx

(xx/xx/xxxx)

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

1

xxx

$xx.xx

xx.xx%

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Jarden

04/05/2026

4

Underweight

$0.70

-71.07%

Jarden maintains an Underweight rating for Liontown while lifting the target price to $0.70 from $0.65 following the release of the March quarter report.

The broker notes the operation faced a mixed quarter; robust underground mining rates of 1.5mtpa were offset by a timing-driven sales miss caused by a cyclone-delayed shipment.

A significant focus of the update is a 430kt transitional feed shortfall anticipated in FY27, as lower-grade stockpiles deplete faster than the underground operation can ramp up to its 2.8mtpa nameplate capacity.

This dynamic sees the broker's FY27 production and earnings forecasts sit materially below market consensus.

The valuation increase stems from the incorporation of a 4mtpa expansion at Kathleen Valley from 2029, which embeds roughly -$300m in additional capital expenditure to support the expanded footprint.

FORECAST
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -0.40 cents.
Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 2.50 cents.
Access Extra Coverage Research History >

LTR STOCK CHART

FNArena News on LTR

1
Australian Broker Call *Extra* Edition – May 05, 2026

May 05 2026 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – May 04, 2026

May 04 2026 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Apr 29, 2026

Apr 29 2026 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Apr 13, 2026

Apr 13 2026 - Daily Market Reports
5
Weekly Ratings, Targets, Forecast Changes – 10-04-26

Apr 13 2026 - Weekly Reports

Latest New Battery Elements News

1
Why Is PLS Still Heavily Shorted?

Apr 30 2026 - Commodities
2
Liontown Ramps Up As Lithium Price Recovers

Mar 17 2026 - Commodities
3
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Jan 15 2026 - ESG Focus
4
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Aug 11 2025 - International
7
Lithium’s Bringing Excitement Back

Jul 24 2025 - Technicals
8
Liontown Resources: Going Underground

Mar 20 2025 - Commodities
9
Material Matters: Lithium’s Debate Continues

Jan 17 2025 - Commodities
10
The Lithium Transition – A Recap Of 2024 & Thoughts On 2025

Jan 13 2025 - Commodities