There is far too much price anchoring happening on these threads. People remember the stock being $16 or $11 and think that means $6 is cheap. This is completely missing the obvious: the stock is de-rating in line with the fundamentals. A year ago, the stock was heading into the end of June at $15/sh. Open that quarterly, compare it to the most recent one, and you see the cold hard numbers:
- Jun 2023: Greenbushes on a 100% basis did spodumene sales of 429,000t at an average price of US$5,431/t, for total quarterly sales revenue of A$3,493,000,000.
- Mar 2024: Greenbushes on a 100% basis did spodumene sales of 182,800t at an average price of US$1,034/t, for total quarterly sales revenue of A$285,900,000.
So in simple terms, between June 2023 and March 2024:
- Sales fell -57%
- Revenue fell -92%
- Average realized Li price fell -81%
- The share price is actually only down -60%
If you annualize their March 2024 quarterly result, the stock is actually trading on 20x EV/EBITDA. So unless the lithium price recovers soon, this trend could continue. Be wary of people who carry on like "the share price has halved" as though that means it's a buying opportunity - they too are completely missing the point.
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Last
$5.72 |
Change
-0.130(2.22%) |
Mkt cap ! $4.331B |
Open | High | Low | Value | Volume |
$5.85 | $5.91 | $5.70 | $24.52M | 4.253M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 8696 | $5.72 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$5.77 | 2500 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 3773 | 5.710 |
6 | 78485 | 5.700 |
2 | 25111 | 5.690 |
2 | 17963 | 5.680 |
3 | 18378 | 5.670 |
Price($) | Vol. | No. |
---|---|---|
5.770 | 2500 | 1 |
5.780 | 74131 | 7 |
5.790 | 25144 | 3 |
5.800 | 17763 | 1 |
5.810 | 17763 | 1 |
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