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: -3.76
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.27

28 Jan
2026

-0.020

OPEN

$0.30

-6.90%

HIGH

$0.30

11,094,829

LOW

$0.27

TARGET
$0.467

-0.07 change from previous day

 72.8% upside
Franking for last dividend paid out: 0%
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FNARENA'S MARKET CONSENSUS FORECASTS
SYR: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) - 12.6 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 © 2026 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-19.4
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx47.8 M
Book Value Per Share xxxxxxxxxxxxxxx56.8
Net Operating Cash Flow xxxxxxxxxxxxxxx-122.6 M
Net Profit Margin xxxxxxxxxxxxxxx-392.42 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-33.04 %
Return on Invested Capital xxxxxxxxxxxxxxx-27.76 %
Return on Assets xxxxxxxxxxxxxxx-17.49 %
Return on Equity xxxxxxxxxxxxxxx-33.04 %
Return on Total Capital xxxxxxxxxxxxxxx-14.41 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-159.1 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 xxxxxxxxxxxxxxx240 M
Long Term Debt xxxxxxxxxxxxxxx196 M
Total Debt xxxxxxxxxxxxxxx436 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx141 M
Price To Book Value xxxxxxxxxxxxxxx0.34

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx36.5 M
Capex % of Sales xxxxxxxxxxxxxxx76.38 %
Cost of Goods Sold xxxxxxxxxxxxxxx157 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx36 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

0.3

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Shaw and Partners

31/07/2025

3

Hold

$0.60

122.22%

Shaw and Partners notes Syrah Resources' Balama production restarted for the first time in more than one year in the June quarter, with 6.5kt of graphite fines produced at a recovery rate of 74% during the ramp-up.

The average FOB sales price came in at US$669/t, with the miner aiming to leverage ex-China demand and maintain production until natural graphite demand rises.

Cash at quarter-end was US$43m, down from US$66m at the end of the previous quarter.

Hold rating and 60c target price retained. Shaw and Partners will update earnings forecasts with the FY25 results.

FORECAST
Shaw and Partners forecasts a full year FY25 EPS of minus -9.41 cents.
Shaw and Partners forecasts a full year FY26 EPS of minus -0.31 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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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

18/01/2026

2

Overweight

$0.34

25.93%

A general sector update has seen Jarden analysts lift their pricing projections for copper and lithium. The view is that improving pricing will trigger a supply response in lithium.

A sceptical Jarden has progressively been downgrading its ratings over the past six months on the view that equity prices are increasingly challenging fundamental DCF-derived valuations for lithium companies.

Jarden acknowledges there's strategic value in Syrah Resources, but the share price is still awaiting a re-rate. While a cheap looking valuation stands out, Jarden notes ongoing risks around product qualification, commercial sales, ultimate pricing and continuing cash burn.

Overweight alongside a price target of 34c.
Access Extra Coverage Research History >

SYR STOCK CHART

FNArena News on SYR

1
Australian Broker Call *Extra* Edition – Jan 22, 2026

Jan 22 2026 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Nov 04, 2025

Nov 04 2025 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Sep 16, 2025

Sep 16 2025 - Daily Market Reports
4
In Case You Missed It – BC Extra Upgrades & Downgrades – 25-07-25

Jul 25 2025 - Weekly Reports
5
Australian Broker Call *Extra* Edition – Jul 24, 2025

Jul 24 2025 - Daily Market Reports

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