PLS' first-quarter 2027 production grew 25% as Ngungaju restarted, but shipment delays and a lower lithium price resulted in revenue falling by 24% to AUD 563 million. Unit costs fell, alongside the miner signing a 20-year energy agreement with Fortescue, which it expects to lower costs for P2000.
As a low-cost spodumene operator, Pilgangoora should earn returns above WACC in most lithium price environments.
Lithium prices may not recover to our midcycle assumption if electric vehicle demand grows more slowly than expected.
|
Metric
|
PLS
|
ALB
|
IGO
|
|---|---|---|---|
Price/Earnings (Normalized) | 16.63 | 16.55 | 44.51 |
Price/Book Value | 2.36 | 1.45 | 1.76 |
Price/Sales | 6.33 | 2.13 | 8.84 |
Price/Cash Flow | 7.38 | 9.52 | 29.96 |
|
Metric
|
PLS
|
ALB
|
IGO
|
|---|---|---|---|
Quick Ratio | 3.01 | 1.25 | 4.77 |
Current Ratio | 3.25 | 2.09 | 5.46 |
Interest Coverage | 7.99 | 1.99 | 15.96 |
|
Metric
|
PLS
|
ALB
|
IGO
|
|---|---|---|---|
Return on Assets (Normalized) | 10.38% | 5.06% | 4.61% |
Return on Equity (Normalized) | 14.50% | 10.70% | 5.12% |
Return on Invested Capital (Normalized) | 12.01% | 7.34% | 4.89% |
|
1-Day Chart
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