Lithium Prices Still Soft - 3 ASX Names Worth a Second Look Today
Written by
Varun Ratra
Following are the top 3 lithium ASX stocks to watch out for, considering the lithium price softening led by solid business fundamentals, impressive production and growth led outlook.
IGO Limited (ASX: IGO) is one of the leading lithium based ASX stocks which is currently trading at a market capitalisation of $3.61 billion.
IGO had announced its FY26 financial results on 27 August 2026 for the period ended June 2026. Lithium hydroxide production increased by 30% year on year to 8,839 tonnes, with conversion cost down to $18,379 per tonne.
It has reported a revenue of $462.9 million, and the share of profit from TLEA becomes positive from a loss of $642 million in FY25 to a profit of $207.3 million. IGO reported an EBITDA of $323 million and net profit after tax of $145 million.
Net cash flow from operating activities surged by 209% year on year to $132 million, and underlying free cash flow grew by 176% year on year to $134 million. Cash increased by 38% year on year to $387 million.
Liontown Limited (ASX: LTR) is one of the top lithium based ASX stocks, which is currently trading at a market capitalisation of $2.04 billion.
LTR has announced on 30 September 2026 that the board has approved the final investment decision to expand Kathleen Valley and lift the five year steady state average concentrate production to ~780,000 dmt a year. It is expected to peak with a production of more than 800,000 dmt in FY34, with ore processing capacity increasing from ~2.8 Mtpa to 4.2 Mtpa.
Liontown has approved expansion capital of $389 million, out of which $145 million will be used for mining activities and $244 million to be utilised on processing and non-process infrastructure. The forecast payback from incremental cash flows is expected to be 2.5 years from the end of construction.
It has a targeted average steady state unit operating cost of $840-$920 per dmt FOB and sustaining capital of $90-$100 million a year for five years from FY30.
LTR is expected to concentrate production of 390,000-440,000 dmt in FY27 with a unit operating cost of $1,050-1,250 per dmt. FY27 capital expenditure guidance is updated to $435-$495 million to include expansion capital approved at FID.
Mineral Resources Limited (ASX: MIN) is one of the best lithium based ASX stocks, which is currently trading at a market capitalisation of $8.41 billion.
MIN had announced on 23 October 2026 its quarterly activities report for the period ended September 2026. The total mining service production volume grew by 10% quarter on quarter to 103Mt. It has reported a record attributable lithium sales of 170k dmt SC6, up 8% quarter on quarter.
It has reported a cash balance of $1.7 billion with liquidity reaching $2.5 billion. Net debt decreased to $4.1 billion, and it has incurred a capital expenditure of $310 million.
Mineral Resources is expected to do mining service production of 370-390Mt in FY27, including lithium production of 660k-750kt dmt SC6. It is expected to do a capital expenditure of $1.425 billion in FY27.
Related Reads :-
1. Best ASX mining stocks to watch in 2026
(Source: Company Announcements)
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