SYRAH RESOURCES LIMITED (SYR)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

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
$0.265 25 Mar 2025	-0.005 OPEN $0.27	-1.85% HIGH $0.27	1,580,742 LOW $0.26

TARGET

$0.405

52.8% upside

Franking for last dividend paid out: 0%

OTHER COMPANIES IN THE SAME SECTOR
A11 . A4N . AGY . ASN . AZL . BKT . BSX . CXO . DLI . EMN . GL1 . GLN . GT1 . INR . JRV . LEL . LKE . LLL . LPD . LTR . MNS . NMT . NVX . PLL . PLS . PSC . RNU . SRL . SYA . TLG . VR8 . VUL . WC8 . WIN . WR1 .

FNARENA'S MARKET CONSENSUS FORECASTS

12 Month Avg FX Values

Present FX Values

Original Currency

Title	FY24 Forecast	FY25 Forecast
EPS (cps)	- 17.4	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

Title	FY24 Forecast	FY25 Forecast
EPS (cps)	- 18.0	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

Title	FY22 Actual	FY23 Actual	FY24 Forecast	FY25 Forecast
EPS (cps)	xxx	- 0.2	- 11.3	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
Div Pay Ratio(%)	xxx	N/A	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

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	2019	2020	2021	2022	2023	2024
EPS Basic	xxx	xxx	xxx	xxx	xxx	-20.4
DPS All	xxx	xxx	xxx	xxx	xxx	0.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	47.8 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	59.8
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	-122.6 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	-392.42 %

EPS Basic

Negative
Growth
Slowing

DPS All

Negative
Growth
Slowing

Sales/Revenue

Negative
Growth
Slowing

Book Value Per Share

Negative
Growth
Slowing

Net Operating Cash Flow

Negative
Growth
Slowing

Net Profit Margin

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	-33.04 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	-27.76 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	-17.49 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	-33.04 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	-14.41 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	-159.1 M

Return on Capital Employed

Negative
Growth
Slowing

Return on Invested Capital

Negative
Growth
Slowing

Return on Assets

Negative
Growth
Slowing

Return on Equity

Negative
Growth
Slowing

Return on Total Capital

Negative
Growth
Slowing

Free Cash Flow ex dividends

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	240 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	196 M
Total Debt	xxx	xxx	xxx	xxx	xxx	436 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	-
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	141 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	0.34

Short-Term Debt

Negative
Growth
Slowing

Long Term Debt

Negative
Growth
Slowing

Total Debt

Negative
Growth
Slowing

Goodwill - Gross

Cash & Equivalents - Generic

Negative
Growth
Slowing

Price To Book Value

Negative
Growth
Slowing

Title	2019	2020	2021	2022	2023	2024
Capex	xxx	xxx	xxx	xxx	xxx	36.5 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	76.38 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	157 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	36 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	0 M

Capex

Negative
Growth
Slowing

Capex % of Sales

Negative
Growth
Slowing

Cost of Goods Sold

Negative
Growth
Slowing

Selling, General & Admin. Exp & Other

Negative
Growth
Slowing

Research & Development

Investments - Total

Negative
Growth
Slowing

Negative

Growth

Slowing

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

Display All Commentary

Sentiment Indicator

0.5

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
UBS	xx/xx/xxxx	3	xxxxxxxxx xx xxxxxxx xxxx xxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Morgan Stanley	xx/xx/xxxx	3	xxxxx-xxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Shaw and Partners	31/10/2024	1	Buy, High Risk	$0.80	201.89%	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 -14.40 cents. Shaw and Partners forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -1.84 cents.
Macquarie	xx/xx/xxxx	1	xxxxxxxxxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial

Access Stockbroker Research History >

EXTRA COVERAGE

Display All Commentary

No. Of Recommendations

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	04/03/2025	3	Neutral	$0.29	9.43%	Syrah Resources has signed a new offtake agreement with US EV manufacturer Lucid Group to supply 7kt of natural graphite active anode material (NG AAM) from its Vidalia plant over three years. Jarden notes the transaction represents around 20-25% of the facility's stage 2 capacity. This agreement, coupled with the earlier Tesla deal, positions Vidalia to secure most of its 11.25ktpa capacity once product qualifications are met, highlights the broker. The agreement with Lucid, along with product certification from Tesla and Lucid, further validates Vidalia as a strategic asset and enhances Syrah's competitive position in the natural graphite market, according to the analysts. Neutral rating and 29c target are unchanged. FORECAST Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -17.31 cents. Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -16.39 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Jarden

04/03/2025

Neutral

$0.29

9.43%

Syrah Resources has signed a new offtake agreement with US EV manufacturer Lucid Group to supply 7kt of natural graphite active anode material (NG AAM) from its Vidalia plant over three years.

Jarden notes the transaction represents around 20-25% of the facility's stage 2 capacity. This agreement, coupled with the earlier Tesla deal, positions Vidalia to secure most of its 11.25ktpa capacity once product qualifications are met, highlights the broker.

The agreement with Lucid, along with product certification from Tesla and Lucid, further validates Vidalia as a strategic asset and enhances Syrah's competitive position in the natural graphite market, according to the analysts.

Neutral rating and 29c target are unchanged.

FORECAST
Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -17.31 cents.
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -16.39 cents.

Access Extra Coverage Research History >

SYR STOCK CHART

FNArena News on SYR

1	Australian Broker Call Extra Edition – Mar 04, 2025 Mar 04 2025 - Daily Market Reports

2	Australian Broker Call Extra Edition – Feb 06, 2025 Feb 06 2025 - Daily Market Reports

3	In Case You Missed It – BC Extra Upgrades & Downgrades – 20-12-24 Dec 20 2024 - Weekly Reports

4	Australian Broker Call Extra Edition – Dec 19, 2024 Dec 19 2024 - Daily Market Reports

5	Material Matters: Iron Ore; Gold, Critical Minerals & LNG Dec 05 2024 - Commodities

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

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

	Yield	Yield on investment
This Year
Year 1
Year 2
Year 3
Year 4
Year

1	Australian Broker Call Extra Edition – Mar 04, 2025 Mar 04 2025 - Daily Market Reports

2	Australian Broker Call Extra Edition – Feb 06, 2025 Feb 06 2025 - Daily Market Reports

3	In Case You Missed It – BC Extra Upgrades & Downgrades – 20-12-24 Dec 20 2024 - Weekly Reports

4	Australian Broker Call Extra Edition – Dec 19, 2024 Dec 19 2024 - Daily Market Reports

5	Material Matters: Iron Ore; Gold, Critical Minerals & LNG Dec 05 2024 - Commodities

Get 2 Weeks free trial

Sign Up

Member Login

SYRAH RESOURCES LIMITED (SYR)
Share Price Analysis and Chart