I know tons of people and their dog have probably translated this already - but here's an alternative take, with a bit of poetic license here and there trying to preserve some semblance of rhyme and the feel of the original.
All that is gold does not glitter,
Not all those who wander are lost;
The old that is strong does not wither,
Deep roots are not reached by the frost.
From the ashes, a fire shall be woken,
A light from the shadows shall spring;
Renewed shall be blade that was broken,
The crownless again shall be king
Ilye i maltave lá mirilyar,
Lá illi i ranyar illume vanwe;
I linyenwe i túrie úoio sintar,
Núre sundor lá anya i nique.
Et i *lísello ruine ekkuivuvaina,
Et i huinello ettuluva nár;
I rákina maika envinyatuvaina,
I *alarína ata ole tár.
*líse noun "ash" to differentiate it from litse "sand" yet derive it from the same root (as Sindarin has this meaning1)
*alarína adj. "un-crowned"
- 1. as discussed with Elaran on Discord "ash" is probably a later association with the root LITH however, I felt that it was worth preserving the attested Q form with its original meaning and add a new derivation from the same root, as opposed to create a new word for "sand" in Quenya