ARAFURA RARE EARTHS LIMITED (ARU)
Share Price Analysis and Chart

11/08/2026

1

Speculative Buy

$0.40

90.48%

Canaccord Genuity maintains a Speculative Buy rating for Arafura Rare Earths with its target price increased to $0.40 from $0.35 following a positive final investment decision for the Nolans rare earths project.

The company finalised the $2.5bn required to develop the integrated operation, supported by 1.1bn in new equity and commitments for US1.1bn in backed debt.

Binding offtake agreements currently cover 84% of planned production, while construction is scheduled to commence during the September quarter of 2026 ahead of first output in late 2029.

With funding largely completed and initial site works approaching, the analyst lowered risking metrics across the valuation model.

The broker's estimates factor in minor revisions to the capital expenditure profile and production ramp-up, driving the upgraded valuation for the 40-year mine life operation.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.00 cents.