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

$7.00

27 Aug
2026

-0.150

OPEN

$7.11

-2.10%

HIGH

$7.21

3,601,839

LOW

$6.99

TARGET
$7.813 11.6% 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 - 12.1 xxx
DPS (cps) xxx 5.0 5.5 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx - 37.5% 9.3% xxx
PE Ratio xxx N/A N/A xxx
Dividend Yield xxx N/A 0.8% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.59%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.71

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

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Macquarie

20/08/2026

1

Outperform

$8.00

14.29%

Iluka Resources' first half metrics were largely pre-released, with revenue and net debt in line. The underlying loss of -$24m was better than Macquarie expected.

The inventory drawdown continues, reducing mineral sands division net debt by -$200m in the first half and supporting balance sheet flexibility.

The Balranald ramp-up is still unresolved, Macquarie notes, with both rigs operational and concentrate being produced on specification, but ore extraction rates and recoveries remain below target.

Outperform and $8.00 target retained.

FORECAST
Macquarie forecasts a full year FY26 dividend of 6.00 cents and EPS of 5.80 cents.
Macquarie forecasts a full year FY27 dividend of 7.00 cents and EPS of 94.50 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

24/08/2026

1

Buy

$7.50

7.14%

Canaccord Genuity maintains its Buy recommendation and $7.50 price target for Iluka Resources following a 1H26 result that was mostly in line with the broker's estimates and better than consensus expectations, reporting revenue of $433m, underlying EBITDA of $41m, and a reported net loss of -$24m.

The mineral sands division generated positive free cash flow of $199m driven by inventory unwinds and lower costs following suspensions, though this was offset by Eneabba and Balranald capital expenditure, resulting in negative group free cash flow of -$88m and net debt of $1,149m.

Management left its 2026 production guidance unchanged at 265kt while noting confidence in achieving targeted production rates at Balranald next year, alongside an ongoing expansion of Eneabba feedstock optionality via an offtake and investment agreement with VHM Limited.

The broker's estimates incorporate adjustments to mineral sands and realised rare earth pricing assumptions, leading to upward revisions for FY26 through FY28 EBITDA and select net income figures.

The analyst highlights that as Eneabba advances toward first production, the market will increasingly view the company as a rare earths exposure rather than a traditional mineral sands play.
Access Extra Coverage Research History >

ILU STOCK CHART

FNArena News on ILU

1
Australian Broker Call *Extra* Edition – Aug 24, 2026

Aug 24 2026 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Aug 21, 2026

Aug 21 2026 - Daily Market Reports
3
FNArena Corporate Results Monitor – 20-08-2026

Aug 20 2026 - Australia
4
Next Week At A Glance – 10-14 Aug 2026

Aug 07 2026 - Weekly Reports
5
Rudi’s View: That’s The Way Markets Crumble

Aug 06 2026 - Rudi's View

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