Nothing to see here. Profit taking, exaggerated by retail panic yesterday. Doesn't mean there won't be more panic this morning.
Macquarierates AKE asOutperform(1) -
Allkem's March quarter result was mixed, Macquarie notes, with higher-than-expected production offset by lower shipments. June quarter lithium pricing guidance was also mixed, on weaker carbonate pricing meeting spodumene prices largely in line with forecasts.
Target falls to $16.70 from $17.00, Outperform retained. The broker awaits updates on developments at Sal de Vida, Olaroz and James Bay, which present key near-term catalysts.
