SYRAH RESOURCES LIMITED (SYR)
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SYR

SYR - SYRAH RESOURCES LIMITED

FNArena Sector : New Battery Elements
Year End: December
GICS Industry Group : Materials
Debt/EBITDA: -5.04
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.245

21 Feb
2025

0.010

OPEN

$0.24

4.26%

HIGH

$0.25

1,473,125

LOW

$0.24

TARGET
$0.405 65.3% upside
Franking for last dividend paid out: 0%
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FNARENA'S MARKET CONSENSUS FORECASTS
SYR: 1
Title FY24
Forecast		 FY25
Forecast
EPS (cps) - 17.3 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio N/A xxx
Dividend Yield 0.0% xxx
Div Pay Ratio(%) N/A xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

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 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx-18.4
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx71.9 M
Book Value Per Share xxxxxxxxxxxxxxx75.0
Net Operating Cash Flow xxxxxxxxxxxxxxx-93.1 M
Net Profit Margin xxxxxxxxxxxxxxx-175.85 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx-21.80 %
Return on Invested Capital xxxxxxxxxxxxxxx-19.40 %
Return on Assets xxxxxxxxxxxxxxx-13.55 %
Return on Equity xxxxxxxxxxxxxxx-21.80 %
Return on Total Capital xxxxxxxxxxxxxxx-12.07 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-313.0 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 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx413 M
Long Term Debt xxxxxxxxxxxxxxx20 M
Total Debt xxxxxxxxxxxxxxx434 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx124 M
Price To Book Value xxxxxxxxxxxxxxx0.84

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx221.5 M
Capex % of Sales xxxxxxxxxxxxxxx308.13 %
Cost of Goods Sold xxxxxxxxxxxxxxx109 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx67 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 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

0.5

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Shaw and Partners

31/10/2024

1

Buy, High Risk

$0.80

226.53%

Shaw and Partners leaves its forecasts for Syrah Resources unchanged after reviewing 3Q results.

Market conditions remain depressed, note the analysts, with the price of natural graphite fines falling towards US$400/t FOB China between July and September.

Ramp up continues at Vidalia, with management expecting active anode material (AAM) sales under offtake to begin in 2025 to a combination of Tesla and three additional customers still in negotiation.

The Buy, High Risk rating and 80c target are retained.

FORECAST
Shaw and Partners forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -14.35 cents.
Shaw and Partners forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -1.83 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

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

Jarden

06/02/2025

3

Neutral

$0.29

18.37%

Jarden notes no production occurred at Syrah Resources' Balama mine in the December quarter due to protests, resulting in the depletion of natural graphite inventory.

The broker understands a definitive restart timeline cannot be provided by the company, and is forecasting site operations will resume in the March quarter. 

Once the company regains site access, the broker anticipates production restart to take four weeks, leading to a delay in production to early June quarter from the March quarter.

The broker's target price is a range of 29-52c, with the base case of 29c assuming the convertible notes, maturing in 2028, are redeemed and $260m of fresh equity is raised at $0.30/share to fund the redemption.

Neutral rating is unchanged. 

FORECAST
Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -17.41 cents.
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -15.27 cents.
Access Extra Coverage Research History >

SYR STOCK CHART

FNArena News on SYR

1
Australian Broker Call *Extra* Edition – Feb 06, 2025

Feb 06 2025 - Daily Market Reports
2
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