Monday, 2 October 2023

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Macquarie Remains a Buy on Iluka Resources Limited (ILKAF) – TipRanks Financial Blog

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In a report released today, Hayden Bairstow from Macquarie maintained a Buy rating on Iluka Resources Limited (ILKAFResearch Report), with a price target of A$10.20. The company’s shares closed last Thursday at $5.10.

Bairstow covers the Basic Materials sector, focusing on stocks such as Piedmont Lithium, Northern Star Resources Ltd, and Rio Tinto Limited. According to TipRanks, Bairstow has an average return of 1.4% and a 43.85% success rate on recommended stocks.

The word on The Street in general, suggests a Hold analyst consensus rating for Iluka Resources Limited with a $6.44 average price target.

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ILKAF market cap is currently $2.25B and has a P/E ratio of 7.49.

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Iluka Resources Ltd. engages in the exploration, development, mining, processing, marketing, and rehabilitation of mineral sands products. It operates through the following segments: Australia (AUS), Sierra Rutile (SRL), United States (US), and Mining Area C (MAC). The AUS segment comprises the mineral sands mining and processing operations in Victoria and Western Australia, South Australia. The SRL segment focuses on the mineral sands mining and processing operations in Sierra Leone. The US segment includes the rehabilitation obligations in both Virginia and Florida. The MAC segment relates to the iron ore royalty interest over certain mining tenements in Australia. The company was founded on July 24, 1954 and is headquartered in Perth, Australia.

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