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

$3.89

23 May
2025

-0.030

OPEN

$3.90

-0.77%

HIGH

$3.98

1,400,521

LOW

$3.89

TARGET
$5.51 41.6% 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 40.4 xxx
DPS (cps) xxx 8.0 7.6 xxx
EPS Growth xxx - 32.7% - 25.5% xxx
DPS Growth xxx 14.3% - 4.5% xxx
PE Ratio xxx N/A 9.6 xxx
Dividend Yield xxx N/A 2.0% xxx
Div Pay Ratio(%) xxx 14.8% 18.9% xxx

Dividend yield today if purchased 3 years ago: 0.75%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 2.06

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

0.8

No. Of Recommendations

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

Morgan Stanley

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxx xxxx xxxxx-xxxxxx

$xx.xx

xx.xx%

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

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxx xxxx xxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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Ord Minnett

08/05/2025

1

Buy

$5.90

51.67%

Ord Minnett maintains a Buy rating and a $5.90 target price on Iluka Resources, seeing the current market cap as undervaluing the business.

Management at the recent investor briefing suggested the current share price just reflects the company’s $1bn in mineral sands inventory and 20% stake in Deterra Royalties ((DRR)), valued at circa $400m.

The broker prefers to anchor its valuation to earnings, noting Iluka remains long on asset value but light on earnings and free cash flow.

The Eneabba refinery remains the key uncertainty and potential catalyst, with market concerns around cost overruns, ramp-up challenges, and downstream processing capacity in the West, explain the analysts.

FORECAST
Ord Minnett forecasts a full year FY25 dividend of 5.60 cents and EPS of 54.20 cents.
Ord Minnett forecasts a full year FY26 dividend of 5.40 cents and EPS of 30.50 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$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

Goldman Sachs

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Canaccord Genuity

31/03/2025

3

Hold

$4.40

13.11%

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.
Access Extra Coverage Research History >

ILU STOCK CHART

FNArena News on ILU

1
Rudi’s View: Rate Cut Winners & AI Beneficiaries

May 22 2025 - Rudi's View
2
Weekly Ratings, Targets, Forecast Changes – 16-05-25

May 19 2025 - Weekly Reports
3
Australian Broker Call *Extra* Edition – May 08, 2025

May 08 2025 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Apr 27, 2025

Apr 28 2025 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Apr 14, 2025

Apr 14 2025 - Daily Market Reports

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