HC Wainwright Has Bearish Forecast for ELBM FY2025 Earnings

Electra Battery Materials Corporation (NASDAQ:ELBM) – Analysts at HC Wainwright lowered their FY2025 earnings estimates for Electra Battery Materials in a research report issued to clients and investors on Tuesday, June 17th. HC Wainwright analyst H. Ihle now expects that the company will post earnings per share of ($1.07) for the year, down from their prior forecast of ($0.81). HC Wainwright has a “Buy” rating and a $2.20 price target on the stock. The consensus estimate for Electra Battery Materials’ current full-year earnings is ($1.72) per share.

Electra Battery Materials (NASDAQ:ELBM) last issued its earnings results on Tuesday, May 13th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.50).

Electra Battery Materials Stock Performance

Shares of Electra Battery Materials stock opened at $1.04 on Thursday. Electra Battery Materials has a fifty-two week low of $0.91 and a fifty-two week high of $2.83. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a market capitalization of $18.68 million, a P/E ratio of -0.70 and a beta of 2.44. The company’s 50 day moving average price is $1.06 and its two-hundred day moving average price is $1.35.

Hedge Funds Weigh In On Electra Battery Materials

A hedge fund recently raised its stake in Electra Battery Materials stock. Scotia Capital Inc. lifted its holdings in shares of Electra Battery Materials Corporation (NASDAQ:ELBM) by 53.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66,766 shares of the company’s stock after purchasing an additional 23,290 shares during the period. Scotia Capital Inc. owned 0.45% of Electra Battery Materials worth $30,000 as of its most recent filing with the SEC. 32.90% of the stock is currently owned by institutional investors and hedge funds.

About Electra Battery Materials

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.