Previous close | 1.0950 |
Open | 1.1200 |
Bid | 1.1200 x 33770400 |
Ask | 1.1250 x 5475900 |
Day's range | 1.1000 - 1.1500 |
52-week range | 0.8750 - 3.1950 |
Volume | |
Avg. volume | 14,275,913 |
Market cap | 2.715B |
Beta (5Y monthly) | 0.08 |
PE ratio (TTM) | N/A |
EPS (TTM) | N/A |
Earnings date | N/A |
Forward dividend & yield | N/A (N/A) |
Ex-dividend date | 29 May 2018 |
1y target est | N/A |
Australia's Liontown Resources posted a bigger half-year loss on Friday, as the lithium developer boosted capital spending ahead of first production at its flagship Kathleen Valley project in Western Australia in the coming months. Liontown's net loss after tax widened to A$31 million in the six-month period ended Dec. 31, from A$6.9 million a year earlier. Earlier this week, Liontown - the target of an aborted takeover bid in October by Albemarle - refinanced its debt facility for $363 million to support the Kathleen Valley project's ramp-up.
The lithium producer's stock got hammered for several reasons, but here's why you might want to buy it.
Shares of Australia's Liontown Resources slumped 34% on Friday, after the miner said it would secure up to A$1.2 billion ($759 million) in total in a discounted share placement and debt issue to fund its flagship Kathleen Valley Lithium project. The fund-raising move came a few days after U.S.-based miner Albemarle abandoned a A$6.6 billion ($4.16 billion) buyout bid for Liontown. The fund-raising will be in two parts consisting of a debt facility worth A$760 million and an equity raising of A$376 million, Liontown said on Thursday.