SYRAH RESOURCES LIMITED (SYR)
Share Price Analysis and Chart

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SYR - SYRAH RESOURCES LIMITED

FNArena Sector : New Battery Elements
Year End: December
GICS Industry Group : Materials
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.51

05 Dec
2022

-0.010

OPEN

$2.55

-0.40%

HIGH

$2.64

2,608,313

LOW

$2.51

TARGET
$2.10 -16.3% downside
Franking for last dividend paid out: 0%
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FNARENA'S MARKET CONSENSUS FORECASTS
SYR: 1
Title FY22
Forecast
FY23
Forecast
EPS (cps) - 3.7 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 © 2022 FactSet UK Limited. All rights reserved
Title 201620172018201920202021
EPS Basic xxxxxxxxxxxxxxx-14.3
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx38.7 M
Book Value Per Share xxxxxxxxxxxxxxx78.3
Net Operating Cash Flow xxxxxxxxxxxxxxx-48.3 M
Net Profit Margin xxxxxxxxxxxxxxx-185.63 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201620172018201920202021
Return on Capital Employed xxxxxxxxxxxxxxx-17.36 %
Return on Invested Capital xxxxxxxxxxxxxxx-14.04 %
Return on Assets xxxxxxxxxxxxxxx-12.50 %
Return on Equity xxxxxxxxxxxxxxx-17.36 %
Return on Total Capital xxxxxxxxxxxxxxx-13.03 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-77.1 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

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EXPERT VIEWS
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Sentiment Indicator

0.0

No. Of Recommendations

2
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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Credit Suisse

25/10/2022

3

Neutral

$2.35

-6.37%

Syrah Resources has been granted US$220m from the US Department of Energy to expand Vidalia. Credit Suisse says this should fund roughly 50% of stage 2 capital expenditure.

News of the grant follows hot on the heels of a recent US$102m loan to kickstart the project.

The broker notes this significantly derisks Vidalia and the company's balance sheet; and underpins a lower cost of capital in the future.

Meanwhile, Balama delivered a maiden positive margin in the September quarter thanks to inventory destocking. The broker notes Balama burnt another -US$15m to -US$20m in the quarter but says the cash balance of US$136m should shield it from any disruptions.

Credit Suisse says Vidalia and offtakes have now largely been priced in but suspects there may be further upside given geopolitics.

Neutral rating retained. Target price rises to $2.35 from $1.35 to reflect the US grant.

FORECAST
Credit Suisse forecasts a full year FY22 dividend of 0.00 cents and EPS of minus -3.13 cents.
Credit Suisse forecasts a full year FY23 dividend of 0.00 cents and EPS of minus -2.54 cents.

SYR STOCK CHART