ILUKA RESOURCES LIMITED (ILU)
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ILU

ILU - ILUKA RESOURCES LIMITED

FNArena Sector : Mineral Sands
Year End: December
GICS Industry Group : Materials
Debt/EBITDA: 7.86
Index: 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

$5.77

30 Jul
2026

-0.250

OPEN

$5.87

-4.15%

HIGH

$5.90

3,167,541

LOW

$5.75

TARGET
$7.425 28.7% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ADN . IMA . SFX . VHM .
FNARENA'S MARKET CONSENSUS FORECASTS
ILU: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 67.3 - 13.2 xxx
DPS (cps) xxx 5.0 4.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx - 37.5% - 19.5% xxx
PE Ratio xxx N/A N/A xxx
Dividend Yield xxx N/A 0.7% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.49%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.83

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: 05/03 - ex-div 3.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-67.3
DPS All xxxxxxxxxxxxxxx5.0
Sales/Revenue xxxxxxxxxxxxxxx1,015.4 M
Book Value Per Share xxxxxxxxxxxxxxx481.5
Net Operating Cash Flow xxxxxxxxxxxxxxx-34.2 M
Net Profit Margin xxxxxxxxxxxxxxx-28.40 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-13.02 %
Return on Invested Capital xxxxxxxxxxxxxxx-9.89 %
Return on Assets xxxxxxxxxxxxxxx-7.07 %
Return on Equity xxxxxxxxxxxxxxx-13.02 %
Return on Total Capital xxxxxxxxxxxxxxx-2.95 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-921.5 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx12 M
Long Term Debt xxxxxxxxxxxxxxx1,126 M
Total Debt xxxxxxxxxxxxxxx1,138 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx46 M
Price To Book Value xxxxxxxxxxxxxxx1.20

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx862.1 M
Capex % of Sales xxxxxxxxxxxxxxx84.90 %
Cost of Goods Sold xxxxxxxxxxxxxxx933 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx169 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx448 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

0.8

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

29/07/2026

1

Buy

$8.50

47.31%

Iluka Resources announced a robust 4Q update with mineral sands sales of 157kt which beat consensus by 79% and generated revenue of $286m, some 66% higher than consensus, Ord Minnett points out.

Zircon, rutile and synthetic rutile production beat by circa 100kt, as inventory was drawn down. The analyst anticipated zircon and synthetic rutile stocks will be gone by the end of FY26.

Synthetic rutile kilns are expected to restart in early 2027. Debt levels have been trimmed by -$144m over the quarter to $273m, which has moderated concerns around an equity raising, and this is no longer expected.

Buy rating retained with an unchanged target price of $8.50.

FORECAST
Ord Minnett forecasts a full year FY26 dividend of 6.40 cents and EPS of minus -8.40 cents.
Ord Minnett forecasts a full year FY27 dividend of 6.30 cents and EPS of minus -46.60 cents.

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

1

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

31/07/2026

1

Buy

$7.50

29.98%

Canaccord Genuity maintains a Buy rating for Iluka Resources with its target price lowered to $7.50 from $8.45 following a June quarter update marked by a production miss alongside strong sales revenues.

Quarterly zircon, rutile, and synthetic rutile production of 58kt fell short of forecasts due to weaker Jacinth-Ambrosia grades, though sales volumes of 157kt generated $286m in revenue to beat market expectations.

Slower-than-anticipated commissioning at Balranald limited heavy mineral concentrate output to 10kt, while group net debt increased marginally to $1,115m including $877m in Eneabba non-recourse debt.

Management raised mineral sands capital expenditure guidance to $115m from $60m, anticipating first-half 2026 mineral sands EBITDA of $40m.

Progress at the Eneabba rare earths refinery reaches 60% completion backed by a first binding offtake agreement covering 1,200tpa, with the analyst expecting long-term cash generation once ramp-up hurdles clear.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 7.00 cents and EPS of minus -16.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 8.00 cents and EPS of 1.00 cents.
Access Extra Coverage Research History >

ILU STOCK CHART

FNArena News on ILU

1
Rudi’s View: Pre-August Picks In Resources, Retail & Small Caps

Jul 23 2026 - Rudi's View
2
Material Matters: Copper, Aluminium And Zircon

Jul 13 2026 - Commodities
3
Rudi’s View: July’s Stock Pickers’ Favourites

Jul 09 2026 - Rudi's View
4
Rudi’s View: Best Buys & Conviction Calls In July

Jul 02 2026 - Rudi's View
5
Next Week At A Glance – 29 June-3 Jul 2026

Jun 26 2026 - Weekly Reports

Latest Mineral Sands News

1
Iluka: Rare Earths Upside Emerging

Jul 28 2025 - Commodities
2
Iluka Resources Perking Up

Jul 15 2025 - Technicals
3
Heightened Prospects For Iluka Resources

Apr 26 2021 - Australia
4
Brokers Tick Iluka’s Review But Doubt Outlook

Nov 06 2019 - Australia
5
Strong Outlook For Iluka Despite Soft Start

Apr 17 2019 - Australia
6
Iluka Enjoying Strong Pricing Trend In 2018

Jul 25 2018 - Australia
7
2018 Looks Bright For Iluka Resources

Jan 30 2018 - Australia
8
Iluka Beats All Forecasts

Jul 25 2017 - Australia
9
Weekly Ratings, Targets, Forecast Changes

Jan 23 2017 - Weekly Reports
10
Iluka Raises Rutile Profile, But Will It Pay?

Dec 14 2016 - Australia