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: 0.14
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.87

25 Jul
2024

-0.020

OPEN

$2.79

-0.69%

HIGH

$2.92

28,995,991

LOW

$2.78

TARGET
$3.007

-0.01 change from previous day

 4.8% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
PLS: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx 79.9 11.5 xxx
DPS (cps) xxx 25.0 0.0 xxx
EPS Growth xxx 100.0% - 85.7% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 26.0 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx 31.3% N/A xxx

Dividend yield today if purchased 3 years ago: 14.53%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 8.39

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 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx79.9
DPS All xxxxxxxxxxxxxxx25.0
Sales/Revenue xxxxxxxxxxxxxxx4,064.0 M
Book Value Per Share xxxxxxxxxxxxxxx113.1
Net Operating Cash Flow xxxxxxxxxxxxxxx3,425.8 M
Net Profit Margin xxxxxxxxxxxxxxx58.84 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx102.14 %
Return on Invested Capital xxxxxxxxxxxxxxx90.82 %
Return on Assets xxxxxxxxxxxxxxx66.63 %
Return on Equity xxxxxxxxxxxxxxx102.14 %
Return on Total Capital xxxxxxxxxxxxxxx117.92 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx2,710.4 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 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx124 M
Long Term Debt xxxxxxxxxxxxxxx348 M
Total Debt xxxxxxxxxxxxxxx472 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx3,339 M
Price To Book Value xxxxxxxxxxxxxxx4.32

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx385.5 M
Capex % of Sales xxxxxxxxxxxxxxx9.49 %
Cost of Goods Sold xxxxxxxxxxxxxxx799 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx54 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx217 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

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Citi

25/07/2024

5

Sell

$2.90

1.05%

On full examination of Pilbara Minerals FY24 report, Citi lowers its target price to $2.90 from $3.20, expecting spodumene pricing to remain challenging and observing FY24 costs were toppy.

The broker upgrades the company's rating to Neutral from Sell on valuation.

While considering it to be too early to call a low, Citi observes several positives: Pilbara Minerals has sold an $80m minority stake in one of its interests, suggesting the company may be reining in M&A, observes the broker; resilient spodume prices at these low levels; operational leadership; a healthy $1.2bn cash buffer; and a strong growth platform that should continue to deliver cash through the cycle.

FORECAST
Citi forecasts a full year FY24 EPS of 9.50 cents.
Citi forecasts a full year FY25 EPS of 6.40 cents.

UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

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

Goldman Sachs

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Jarden

27/06/2024

1

Buy

$3.80

32.40%

The P2,000 expansion of existing Pilgangoora ore reserves will now progress to feasibilty study stage, notes Jarden.

Pilbara Minerals has noted the final investment decision (FID) in the December quarter of 2025 will be dependent upon market conditions at that time. The broker has included a conceptual P2000 in its valuation for Pilbara Minerals for some time. 

The target price falls to $3.80 from $4.10 after the analysts lower near-term earnings (EBITDA) forecasts on lower SC6 prices.

Given valuation support, the strategic value of 100% control of a Tier-1 operation, and a balance sheet capable of funding further growth, Jarden retains a Buy rating.

FORECAST
Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of 11.20 cents.
Jarden forecasts a full year FY25 dividend of 5.00 cents and EPS of 8.00 cents.

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >

PLS STOCK CHART

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