Australia's Pilbara Minerals rises on better-than-expected qtrly output

Lithium

29/01/2025 24:27

** Shares of Pilbara Minerals  PLS.AX  rise 4.4% to A$2.38,
snapping five days of consecutive declines
    ** The lithium co rose as much as 5.3% earlier in the day,
posting strongest gain since Jan. 15
    ** Co posts qtrly revenue of A$216 mln ($135.02 mln), 3%
higher than the previous qtr
    ** Posts production of 188,200 dry metric tons (dmt) for
qtr, 14% lower sequentially, but beating Jefferies' estimates
    ** Realised price of $700/dmt was better than Jefferies'
expectations
    ** It will take some time for the lithium market to improve 
and drive margin expansion — Jefferies
    ** Stock up 4.1% this year, as of last close


($1 = 1.5997 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com))