Canaccord Genuity Group Cuts Vulcan Energy Resources (LON:VUL) Price Target to GBX 308

Vulcan Energy Resources (LON:VUL) had its price target decreased by Canaccord Genuity Group from GBX 323 to GBX 308 in a research report report published on Tuesday morning, MarketBeat reports. Canaccord Genuity Group currently has a buy rating on the stock.

Vulcan Energy Resources Stock Performance

Shares of LON VUL opened at GBX 200.50 on Tuesday. Vulcan Energy Resources has a 1 year low of GBX 193.31 and a 1 year high of GBX 282. The stock’s 50-day simple moving average is GBX 265.17 and its 200-day simple moving average is GBX 241.61. The firm has a market cap of £54.69 million and a price-to-earnings ratio of -4.46.

Vulcan Energy Resources (LON:VUL) last issued its quarterly earnings results on Thursday, May 21st. The company reported GBX (45) EPS for the quarter.

Vulcan Energy Resources is a minerals development company focused on producing low?carbon lithium chemicals for the electric vehicle and battery sectors. The company is developing a novel, integrated approach that combines geothermal energy production with lithium extraction from high?salinity geothermal brines, with the aim of creating battery?grade lithium hydroxide with a substantially reduced carbon footprint compared with conventional hard?rock or evaporation?pond sources.

Vulcan’s technical approach centers on exploiting geothermal reservoirs to deliver renewable heat and power while concurrently extracting dissolved lithium using direct lithium extraction (DLE) and associated processing technologies.