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Liontown Ltd ASX:LTR

2 opened or increased11 held1 reduced or exitedlatest position by manager, past 12 months90 days: 2 increased, 0 reduced. 14 managers in total.

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2026

24 Nov 2025 to today

Commentary Showing 2 of 20

DateManagerActionSummary

6 Oct 2026Pendal GroupHeldPendal Group continues to hold Liontown Ltd (ASX: LTR) after shares fell 15.4% when the lithium producer announced a final investment decision to expand its mill from 3 million to 4 million tonnes per annum. Pendal notes the timing and scale were in line with prior expectations, but unit operating costs were guided 5–10% higher and interim production guidance came in below consensus. Together these factors led to earnings estimates being cut by more than 20%. Pendal highlights that Liontown shares are down about 70% since May, with spodumene prices having fallen around US$1,100 per tonne, or 40%, over the same period.

Lithium MiningNewsletter, price recorded $0.83

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31 Jul 2026AkamboIncreasedAkambo increased its position in Liontown Ltd (ASX: LTR), adding 0.5% during July following continued weakness in the lithium price. Akambo believes the medium-term lithium price should recover, supported by electric vehicle and battery storage demand. It prefers Liontown as its lithium exposure because its assets are located in Australia, it has a long mine life, it offers growth from an existing project, and it has major shareholders with large interests in the company.

Lithium MiningMonthly Report, price recorded $0.97

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18 more comments on LTRPro shows every comment, with a link to each source document.

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Articles

About Liontown Ltd

Materials, Metals and Mining

Liontown Resources (ASX:LTR), a lithium producer, has been volatile with lithium prices and operational updates. In July 2026, Blackwattle reported Liontown fell 35% after a June quarter update revealed operational issues. Akambo added to its position on weakness, believing the medium-term lithium price should recover and noting attractive earnings potential, while SG Hiscock visited the Kathleen Valley mine, which had reached a 1.5 million tonne per year run rate, but noted weakening battery metals sentiment. Liontown operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 18 comments from 14 fund managers, including Blackwattle, Akambo and SG Hiscock. Founded in 2006 and headquartered in West Perth, Liontown operates the Kathleen Valley lithium mine in Western Australia, one of the world's largest hard-rock lithium projects, transitioning from open-pit to underground mining and supplying spodumene concentrate to battery makers.

Market cap: $2.2b
Price to earnings: Loss-making
Return on equity: -47.6%
Dividend yield: 0.0%
Price to book: 4.60x
Net margin: -89.5%
52-week range: $0.67 to $2.65

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Liontown Ltd (ASX:LTR)?

Fund managers including Pendal Group and Ellerston Capital have invested in Liontown Ltd (ASX:LTR).

What opportunities or catalysts do fund managers highlight for Liontown Ltd?

Akambo and SG Hiscock highlight Kathleen Valley's solid operational performance at a 1.5 million tonne per year run rate and potential recovery in lithium prices.

What are the key risks to the Liontown Ltd investment thesis, according to fund managers?

Blackwattle and SG Hiscock note a 35% share price fall after a weak quarterly update and declining battery metals sentiment, with investors focused on costs and execution.

What does Liontown Ltd (ASX:LTR) do?

Liontown Ltd. is an Australian mineral exploration and evaluation company headquartered in West Perth. Founded on February 2, 2006, the company focuses on the development of several key projects, including the Kathleen Valley lithium-tantalum project, the Buldania project, and the Moora Gold-PGE-Ni-Cu project. Additionally, Liontown holds interest in the Toolebuc project. The company specializes in identifying and advancing high-quality mineral assets to support future production.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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