Shares of Liontown Resources Ltd soared 5.11% during intraday trading on Friday, following the release of its quarterly financial results and positive analyst commentary on operational improvements.

The lithium miner reported a 51% increase in March quarter revenue to $197 million, driven by an 87% jump in the average realized price for its product. The company also turned net cash flow positive, boosting its cash balance by 9% to $424 million, while maintaining its full-year production guidance.

Analyst commentary highlighted that lithium recovery rates are expected to improve, with the company achieving average recoveries of around 70% in the first three weeks of April, up from approximately 61% in the previous quarter. This operational progress, combined with strong financial performance, contributed to the positive market sentiment.