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

$5.64

19 Feb
2026

0.070

OPEN

$5.50

1.26%

HIGH

$5.69

5,431,349

LOW

$5.41

TARGET
$5.75 2.0% 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 - 4.0 xxx
DPS (cps) xxx 5.0 8.5 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx - 37.5% 70.4% xxx
PE Ratio xxx N/A N/A xxx
Dividend Yield xxx N/A 1.5% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.48%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.91

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: 02/09 - ex-div 2.00c (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

0.2

No. Of Recommendations

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

UBS

xx/xx/xxxx

3

xxxxxxx

$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

19/02/2026

5

Sell

$5.00

-11.35%

Ord Minnett retains a Sell rating and $5.00 target price on Iluka Resources following a 2025 statutory loss of -$288m. The latter reflects a previously disclosed -$566m impairment amid weak mineral sands markets, explains the analyst.

The broker questions whether the company can generate sufficient 2026 cash flow to reduce $473m of mineral sands debt without an equity raise, although a $52m tax refund may provide some support.

Ord Minnett highlights ongoing weakness in zircon and TiO2 demand. The Eneabba rare earth oxide (REO) refinery, targeting first production in 2028 is considered the longer-term attraction.

The broker sees mineral sands pricing and REO offtake agreements as key catalysts.

FORECAST
Ord Minnett forecasts a full year FY26 dividend of 6.60 cents and EPS of minus -49.90 cents.
Ord Minnett forecasts a full year FY27 dividend of 6.50 cents and EPS of minus -27.10 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx, xxxx xxxx

$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

05/02/2026

1

Buy

$6.55

16.13%

Canaccord Genuity has lowered its target to $6.55 from $7.30 while retaining a Buy rating post the 4Q2025 results.

Mineral sands production and sales beat expectations but were offset by weaker average selling prices.

Production guidance for 2026 was set at 265kt and unit cash costs of $1,585/t, below consensus volumes, reflecting Cataby and SR2 remaining offline and higher costs from the Balranald ramp-up.

The broker sees no near-term recovery in mineral sands demand, particularly from China, but notes Balranald commissioning and Eneabba site works remain on track as key medium-term growth drivers. 

FORECAST
Canaccord Genuity forecasts a full year FY26 EPS of minus -0.39 cents.
Access Extra Coverage Research History >

ILU STOCK CHART

FNArena News on ILU

1
Rudi’s View: More Surprises, Led By CBA & BHP

Feb 19 2026 - Rudi's View
2
FNArena Corporate Results Monitor – 19-02-2026

Feb 19 2026 - Australia
3
Rudi’s View: Woolies, CSL, Macquarie (& More)

Feb 05 2026 - Rudi's View
4
Australian Broker Call *Extra* Edition – Feb 05, 2026

Feb 05 2026 - Daily Market Reports
5
Weekly Ratings, Targets, Forecast Changes – 30-01-26

Feb 02 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