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: 0.58
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

$4.13

02 May
2025

0.070

OPEN

$4.03

1.72%

HIGH

$4.14

2,305,631

LOW

$3.96

TARGET
$5.12

-0.03 change from previous day

24.0% 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 FY23
Actual
FY24
Actual
FY25
Forecast
FY26
Forecast
EPS (cps) xxx 54.1 39.7 xxx
DPS (cps) xxx 8.0 7.7 xxx
EPS Growth xxx - 32.7% - 26.7% xxx
DPS Growth xxx 14.3% - 3.5% xxx
PE Ratio xxx N/A 10.4 xxx
Dividend Yield xxx N/A 1.9% xxx
Div Pay Ratio(%) xxx 14.8% 19.5% xxx

Dividend yield today if purchased 3 years ago: 0.70%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

1.95

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 © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx54.1
DPS All xxxxxxxxxxxxxxx8.0
Sales/Revenue xxxxxxxxxxxxxxx1,170.3 M
Book Value Per Share xxxxxxxxxxxxxxx551.7
Net Operating Cash Flow xxxxxxxxxxxxxxx154.1 M
Net Profit Margin xxxxxxxxxxxxxxx19.76 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx10.24 %
Return on Invested Capital xxxxxxxxxxxxxxx9.34 %
Return on Assets xxxxxxxxxxxxxxx6.21 %
Return on Equity xxxxxxxxxxxxxxx10.24 %
Return on Total Capital xxxxxxxxxxxxxxx11.46 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-313.4 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx13 M
Long Term Debt xxxxxxxxxxxxxxx279 M
Total Debt xxxxxxxxxxxxxxx291 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx136 M
Price To Book Value xxxxxxxxxxxxxxx0.92

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx433.9 M
Capex % of Sales xxxxxxxxxxxxxxx37.08 %
Cost of Goods Sold xxxxxxxxxxxxxxx692 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx193 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx454 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

0.4

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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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

24/04/2025

3

Neutral

$4.40

6.54%

Citi highlights a Reuters report that the Australian government has pledged $1.2bn to establish a strategic critical minerals reserve, with the agency noting the Prime Minister stated the minerals would be acquired from commercial projects or secured through options to purchase at a given price.

The report also indicates a strategic taskforce will be created to consult and finalise the scope and design of the reserve, with an operational target date in 2H 2026.

Citi believes this likely refers to Iluka Resources' rare earth refinery, where the government has already provided a $1.65bn loan. The analyst states the announcement is clearly a positive for the company.

Neutral/High risk rating retained. Target price $4.40.

FORECAST
Citi forecasts a full year FY25 dividend of 7.00 cents and EPS of 36.60 cents.
Citi forecasts a full year FY26 dividend of 8.00 cents and EPS of 37.10 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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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

Goldman Sachs

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Canaccord Genuity

31/03/2025

3

Hold

$4.40

6.54%

Canaccord Genuity has pushed the timing for NdPr deficits to 2026 on slower growth in EV sales. The broker expects some offset from a rise in rare earth demand for humanoid robotics but not until the 2030s.

The broker cut forecasts for NdPr oxides until 2030, including -22% decline in FY25 and -23% in FY26. In addition, significant cuts to forecasts for Dysprosium and Terbium have been made throughout the forecast period.

Overall, the broker believes stronger pricing momentum is required to drive broader equity moves in the rare earths sector.

Target price for Iluka Resources has been cut to $4.40 from $5.00. Hold maintained.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 8.00 cents and EPS of 63.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 8.00 cents and EPS of 75.00 cents.

ILU STOCK CHART