PILBARA MINERALS LIMITED (PLS)
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PLS - PILBARA MINERALS LIMITED

FNArena Sector : New Battery Elements
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 1.01
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.19

14 Nov
2024

0.080

OPEN

$3.18

2.57%

HIGH

$3.27

25,114,218

LOW

$3.15

TARGET
$2.82 -11.6% downside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
PLS: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 8.5 0.5 xxx
DPS (cps) xxx N/A 0.2 xxx
EPS Growth xxx - 89.3% - 93.7% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 585.2 xxx
Dividend Yield xxx N/A 0.1% xxx
Div Pay Ratio(%) xxx N/A 37.0% xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

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: 05/09 - ex-div 14c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx8.5
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx1,254.1 M
Book Value Per Share xxxxxxxxxxxxxxx107.8
Net Operating Cash Flow xxxxxxxxxxxxxxx-481.0 M
Net Profit Margin xxxxxxxxxxxxxxx20.48 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx7.74 %
Return on Invested Capital xxxxxxxxxxxxxxx6.94 %
Return on Assets xxxxxxxxxxxxxxx5.40 %
Return on Equity xxxxxxxxxxxxxxx7.74 %
Return on Total Capital xxxxxxxxxxxxxxx10.34 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-1,712.1 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 xxxxxxxxxxxxxxx136 M
Long Term Debt xxxxxxxxxxxxxxx420 M
Total Debt xxxxxxxxxxxxxxx556 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,626 M
Price To Book Value xxxxxxxxxxxxxxx2.85

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx810.0 M
Capex % of Sales xxxxxxxxxxxxxxx64.59 %
Cost of Goods Sold xxxxxxxxxxxxxxx776 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx82 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx128 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

0.0

No. Of Recommendations

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

Ord Minnett

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

31/10/2024

-1

No Rating

-

Macquarie believes the 1Q25 results from Pilbara Minerals were surpassed by the company's decision to reduce FY25 production guidance by -12% because of Ngungaju moving to care and maintenance.

This is expected to save around -$200m in cash flow for FY25.

The broker highlights 1Q25 production was better than expected with a focus to lower cost and make the plant more productive assisting Pilgan's results.

Macquarie is currently on research restriction for Pilbara Minerals and offers no rating or target price.

FORECAST
Macquarie forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.40 cents.
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.00 cents.

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

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

Jarden

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Canaccord Genuity

04/11/2024

1

Buy

$3.90

22.26%

In its September quarter update, Pilbara Minerals reported production of 220kt, with realised spodumene prices falling -19% to US$682/t.

Canaccord Genuity highlights unit costs rose by 3% to $606/t, while cash decreased -17% to $1.35bn.

To preserve its balance sheet, management paused its Calix ((CXL)) joint venture and will place the higher-cost Ngungaju plant into care and maintenance.

Management lowered FY25 production guidance to 700-740kt, with expected cash flow benefits of $200m from these cost-saving measures

No change to Buy rating and $3.90 target price.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 5.00 cents and EPS of 3.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 5.00 cents and EPS of 9.00 cents.

Goldman Sachs

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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PLS STOCK CHART

FNArena News on PLS

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Australian Broker Call *Extra* Edition – Nov 06, 2024

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2
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