Vulcan Energy Resources (LON:VUL) Issues Quarterly Earnings Results

Vulcan Energy Resources (LON:VUL) released its earnings results on Tuesday. The company reported GBX (20.28) earnings per share for the quarter, Digital Look Earnings reports.

Vulcan Energy Resources Price Performance

LON VUL opened at GBX 207 on Thursday. Vulcan Energy Resources has a 12 month low of GBX 190.55 and a 12 month high of GBX 282. The company has a market capitalization of £56.46 million and a P/E ratio of -4.60. The company’s 50 day simple moving average is GBX 216.61 and its 200 day simple moving average is GBX 235.16.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a GBX 308 price objective on shares of Vulcan Energy Resources in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Vulcan Energy Resources currently has a consensus rating of “Buy” and an average price target of GBX 308.

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.