SYRAH RESOURCES LIMITED (SYR)
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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

$0.18

23 Dec
2024

0.000

OPEN

$0.18

0.000

HIGH

$0.19

6,277,619

LOW

$0.17

TARGET
$0.44 144.4% 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) - 15.3 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 © 2024 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

0.7

No. Of Recommendations

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

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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Shaw and Partners

31/10/2024

1

Buy, High Risk

$0.80

344.44%

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 -14.22 cents.
Shaw and Partners forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -1.81 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$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

17/12/2024

3

Downgrade to Neutral from Overweight

$0.30

66.67%

Jarden is reviewing the impact of Syrah Resources' declaration of force majeure at the Balama mine in Mozambique that's triggered default events on two debt facilities.

Jarden notes it's unclear whether the second loan disbursement of US$47m on US International Development Finance Corp's US$150m loan facility remains available to Syrah. The other debt facility is a fully-drawn US$102m from the US Department of Energy.

The broker considers the best possible outcome for shareholders to be a rapid resolution with the lenders, leading to a waiver of the default clause.

The worst outcome would be a requirement to repay one or both debt facilities. The latter would prove challenging without additional funding, given Syrah's last reported cash balance of US$113m.

Jarden lowers the target price to $0.30 from $0.57 and downgrades its rating to Neutral from Overweight.

FORECAST
Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -17.70 cents.
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -13.91 cents.
Access Extra Coverage Research History >

SYR STOCK CHART

FNArena News on SYR

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 20-12-24

Dec 20 2024 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Dec 19, 2024

Dec 19 2024 - Daily Market Reports
3
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Dec 05 2024 - Commodities
4
Australian Broker Call *Extra* Edition – Nov 06, 2024

Nov 06 2024 - Daily Market Reports
5
ESG Focus: The Little Big Things – 02-10-2024

Oct 02 2024 - ESG Focus

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