Galaxy Resources’ Share Price Volatile Trades 2.6% lower

By ,

This morning Galaxy Resources Ltd [ASX:GXY] held an investor conference call at 11:00am AEST to discuss its quarterly results, which will be released Thursday, 18 April 2019.

At the time of writing shares of Galaxy are trading at $1.85, down slightly by 2.6%.

Galaxy Resources’ share price has recently traded with volatility, most likely on account of the lithium miner’s price sensitive announcements over the last six months.

It seems many investors are still figuring where they fit within this new green energy boom.

See why Money Morning contributor Sam Volkering believes you shouldn’t invest in another lithium stock, until you know what you’re doing.

Luckily for you, Sam does. You can read more about investing in lithium in his new report here for free.

Galaxy Resources’ share price set to edge higher?

While there’s no sure way to tell whether a stock will trade higher or lower, we can look at the things a company is doing to maintain further growth…

Even if that means spending money on upstart fundamentals.

Most recently, Galaxy appointed Mr Simon Hay as the company’s Chief Executive Officer, effective 1 July 2019.

In a media release earlier this month, Galaxy Chairman Martin Rowley said:

Simon has the ideal blend of skills and experience in operational, development and marketing roles to be able to lead Galaxy through its next phase of growth.’

Mr Rowley said Mr Hay’s recent project success in Sri Lanka and Sierra Leone gave him confidence that he was the best suited to drive Galaxy’s growth plans in its two world class international assets at Sal De Vida in Argentina and James Bay in Canada.

Elsewhere, Galaxy finalises ESIA and PDA with Green Nation at James Bay project, as well as receiving funds for its POSCO final settlement.

Galaxy Resources’ future position remains crucial

Whether Galaxy Resources’ share price will climb higher or not in the future has a bearing on what the company is doing now.

To start with, Galaxy has both an established and profitable operation at Mt Cattin. Its balance sheet is performing well with no debt and cash equalling to US$41 million.

This is setting a healthy platform for investors as it enters into further growth stages — which could end up impacting Galaxy Resources’ share price positively.


Ryan Clarkson-Ledward,
Money Morning

PS: Are you interested in lithium stocks like Galan Lithium, but don’t know where to start? Our free investor report can help. Don’t buy a single lithium stock until you’ve read it. Download our free guide to learn more.

About Ryan Clarkson-Ledward

Ryan Clarkson-Ledward is an Editor at Money Morning.

Ryan holds degrees in both communication and international business. He helps bring Money Morning readers the latest market updates, both locally and abroad. Ryan tackles all the issues investors need to know about that the mainstream media neglects.

Ryan is also the Editor…

The Five Best Performing ASX Stocks of 2021

We examine the five All Ordinaries [XAO] stocks notching the largest calendar year gains of 2021.

Orocobre Share Price Drops after Releasing FY21 Results (ASX:ORE)

Orocobre [ASX:ORE] share price has dropped despite the announcement of merger with Galaxy Resources and stable FY21 earnings report.

Small-Cap Takeover: More than Just an Afterpay Story

In today’s Money Morning…the lithium resurgence…a small-cap takeover…two very exciting small-caps leading the charge in two very exciting fields…and more…

The Case for Small-Caps — The Hunt for Valuable Investment Ideas

It’s only in the fullness of time that you can stand back and assess whether someone’s investment ideas are worth listening to. And even then, no one gets everything right.

Galaxy Resources Shares Up on Record Quarterly Production (ASX:GXY)

The Galaxy Resources [ASX:GXY] share price reached a 52-week high after record quarterly production of 63,321 tonnes of lithium concentrate.

Galaxy Share Price: Lithium Production Guidance Upgraded (ASX:GXY)

The Galaxy Resources Ltd [ASX:GXY] upgraded its full-year production guidance due to a higher-than-expected production rate at its lithium site. The Galaxy share price stock rose as much as 2.8% in early trade…