ILUKA RESOURCES LIMITED (ILU)
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ILU - ILUKA RESOURCES LIMITED

FNArena Sector : Mineral Sands
Year End: December
GICS Industry Group : Materials
Debt/EBITDA: 0.27
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Iluka Resources is an Australian mining company specialising in mineral sands exploration and production. It is the world's largest producer of zircon, titanium dioxide, rutile and synthetic rutile. The company has been listed in some form since 1962.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.91

19 Dec
2024

-0.180

OPEN

$4.96

-3.54%

HIGH

$4.99

2,982,845

LOW

$4.84

TARGET
$6.34 29.1% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ADN . IMA . SFX . STA . VHM .
FNARENA'S MARKET CONSENSUS FORECASTS
ILU: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx 80.4 48.9 xxx
DPS (cps) xxx 7.0 7.5 xxx
EPS Growth xxx - 44.1% - 39.2% xxx
DPS Growth xxx - 92.2% 6.9% xxx
PE Ratio xxx N/A 9.9 xxx
Dividend Yield xxx N/A 1.5% xxx
Div Pay Ratio(%) xxx 8.7% 15.3% xxx

Dividend yield today if purchased 3 years ago: 0.71%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.45

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 03/09 - ex-div 4c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx80.4
DPS All xxxxxxxxxxxxxxx7.0
Sales/Revenue xxxxxxxxxxxxxxx1,291.0 M
Book Value Per Share xxxxxxxxxxxxxxx506.8
Net Operating Cash Flow xxxxxxxxxxxxxxx120.1 M
Net Profit Margin xxxxxxxxxxxxxxx26.54 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx16.90 %
Return on Invested Capital xxxxxxxxxxxxxxx16.08 %
Return on Assets xxxxxxxxxxxxxxx10.19 %
Return on Equity xxxxxxxxxxxxxxx16.90 %
Return on Total Capital xxxxxxxxxxxxxxx19.48 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-258.3 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx8 M
Long Term Debt xxxxxxxxxxxxxxx155 M
Total Debt xxxxxxxxxxxxxxx164 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx365 M
Price To Book Value xxxxxxxxxxxxxxx1.30

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx281.4 M
Capex % of Sales xxxxxxxxxxxxxxx21.80 %
Cost of Goods Sold xxxxxxxxxxxxxxx647 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx227 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx461 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.6

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

12/12/2024

1

Outperform

$7.10

44.60%

Macquarie delivers some Christmas cheer with three trading ideas.

The broker believes there is value in Iluka Resources on a sum-of-the-parts basis across its three divisions: mineral sands, rare earths project, and Deterra Royalties ((DRR)).

The valuation estimate stands at $2.8bn, including consensus estimates for mineral sands, 20% of Deterra at spot market cap, and the Eneabba stockpile valued at $0.6bn. This suggests approximately 30% upside in the share price.

Including Eneabba, with the majority of value attributed to non-rare earth components, the potential upside exceeds 70% in the share price.

The $7.10 target price and Outperform rating are maintained.

FORECAST
Macquarie forecasts a full year FY24 dividend of 6.00 cents and EPS of 52.60 cents.
Macquarie forecasts a full year FY25 dividend of 20.00 cents and EPS of 94.20 cents.

Citi

xx/xx/xxxx

1

xxx, xxxx xxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Goldman Sachs

28/10/2024

1

Buy

$7.70

56.82%

Iluka Resources delivered a weaker-than-expected 3Q24 result with mineral sands sales of 116kt, down -25-30% compared to expectations, resulting in revenue of $232m.

Goldman Sachs explains the lower-than-anticipated zircon sales, realised prices, and a delayed synthetic rutile shipment into 4Q contributed to the shortfall.

The company highlighted continued subdued demand in China for zircon used in ceramics but expects recovery in 2Q25.  Synthetic rutile sales are set to surge in 4Q as the company targets 90kt in sales.

The broker has reduced its price target to $7.70 from $7.90 and maintained a Buy rating, citing long-term growth potential in mineral sands and rare earths projects. Financial forecasts were adjusted to reflect reduced zircon sales and price assumptions.

FORECAST
Goldman Sachs forecasts a full year FY24 dividend of 8.00 cents and EPS of 40.00 cents.
Goldman Sachs forecasts a full year FY25 dividend of 33.00 cents and EPS of 20.00 cents.
Access Extra Coverage Research History >

ILU STOCK CHART

FNArena News on ILU

1
Material Matters: Whitehaven, Evolution, Iluka, Santos & More

10:30 AM - Commodities
2
Next Week At A Glance – 9-13 Dec 2024

Dec 06 2024 - Weekly Reports
3
Material Matters: Iron Ore; Gold, Critical Minerals & LNG

Dec 05 2024 - Commodities
4
Australian Broker Call *Extra* Edition – Nov 21, 2024

Nov 21 2024 - Daily Market Reports
5
Rudi’s View: Mate, Where Have The Profits Gone?

Nov 06 2024 - Rudi's View

Latest Mineral Sands News

1
Heightened Prospects For Iluka Resources

Apr 26 2021 - Australia
2
Brokers Tick Iluka’s Review But Doubt Outlook

Nov 06 2019 - Australia
3
Strong Outlook For Iluka Despite Soft Start

Apr 17 2019 - Australia
4
Iluka Enjoying Strong Pricing Trend In 2018

Jul 25 2018 - Australia
5
2018 Looks Bright For Iluka Resources

Jan 30 2018 - Australia
6
Iluka Beats All Forecasts

Jul 25 2017 - Australia
7
Weekly Ratings, Targets, Forecast Changes

Jan 23 2017 - Weekly Reports
8
Iluka Raises Rutile Profile, But Will It Pay?

Dec 14 2016 - Australia
9
More Favourable Outlook For Mineral Deposits

Aug 01 2016 - Small Caps
10
Material Matters: 2016 Outlook, Precious & Base Metals, Iron Ore And Steel

Apr 11 2016 - Commodities