Research Analysts Issue Forecasts for ELBM FY2024 Earnings

Electra Battery Materials Co. (NASDAQ:ELBM) – HC Wainwright upped their FY2024 earnings estimates for shares of Electra Battery Materials in a research report issued to clients and investors on Tuesday, March 18th. HC Wainwright analyst H. Ihle now expects that the company will earn ($1.61) per share for the year, up from their prior forecast of ($1.72). HC Wainwright has a “Buy” rating and a $2.40 price objective on the stock. The consensus estimate for Electra Battery Materials’ current full-year earnings is ($1.72) per share. HC Wainwright also issued estimates for Electra Battery Materials’ FY2025 earnings at ($0.81) EPS.

Electra Battery Materials Stock Performance

Shares of ELBM stock opened at $1.27 on Thursday. The company has a market cap of $18.80 million, a P/E ratio of -0.36 and a beta of 2.46. The business has a 50 day moving average of $1.56 and a two-hundred day moving average of $1.92. Electra Battery Materials has a 52 week low of $1.04 and a 52 week high of $2.83. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.12.

Institutional Trading of Electra Battery Materials

A hedge fund recently raised its stake in Electra Battery Materials stock. Scotia Capital Inc. raised its holdings in Electra Battery Materials Co. (NASDAQ:ELBM) by 53.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,766 shares of the company’s stock after acquiring an additional 23,290 shares during the quarter. Scotia Capital Inc. owned 0.45% of Electra Battery Materials worth $30,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 32.90% of the company’s stock.

Electra Battery Materials Company Profile

Electra Battery Materials Corporation engages in the acquisition and exploration of resource properties in the United States and Canada. It primarily explores for cobalt and silver deposits. The company's flagship project is the Iron Creek cobalt-copper project located in Lemhi County, Idaho. It also operates a cobalt refinery for producing battery materials for the electric vehicle supply chain.