Iluka Resources Limited (ILKAY) Stock Analysis
Educational signal · not a buy or sell recommendation · How to read this
Market cap $2.03B is the value of all shares combined. Beta 0.74: the stock has moved about 26% less than the S&P 500.
For informational purposes only. Not financial advice. Machine-generated analysis by Stock Expert AI — model gemini-2.0-flash, generated Mar 16, 2026. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief. Data sources: Financial Modeling Prep, Yahoo Finance, SEC EDGAR
Quick AnswerIluka Resources Limited (ILKAY) trades at $23.50. Iluka Resources Limited is an Australian-based mineral sands company involved in exploration, mining, and processing. It produces zircon, rutile, synthetic rutile, and ilmenite, serving various global industries. Market cap: $2.03B, Sector: Basic materials.
Price as of Sep 11, 2026 · Last analyzed: Mar 16, 2026Analyst Coverage for ILKAY: ILKAY does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates ILKAY against Basic Materials peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
No score published: this stock trades under $10,000 on a typical day, so the price beside it is not one you could reliably act on.
ILKAY: 1/2 scored disciplines lean bearish. Dominant signal: Ken Griffin bullish.
How is this calculated? →AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built
Iluka Resources Limited (ILKAY) Materials & Commodity Exposure
Iluka Resources Limited, an Australian mineral sands company, focuses on the exploration, development, and production of zircon and titanium dioxide products. With operations spanning Australia, Asia, Europe, and the Americas, Iluka serves diverse sectors including technology, construction, and medical, positioning itself as a key player in the global industrial materials market.
What Is the Investment Thesis for ILKAY?
Iluka Resources presents a mixed investment thesis. The company's diverse product portfolio, including zircon and titanium dioxide products, caters to multiple industries, providing some resilience against sector-specific downturns. However, the negative P/E ratio of -9.59 and a profit margin of -28.4% raise concerns about current profitability. The dividend yield of 0.78% offers a modest return. Key growth catalysts include expansion into rare earth elements and increased demand for mineral sands in emerging markets. Investors should closely monitor the company's ability to improve profitability and manage operational costs. The beta of 0.74 suggests lower volatility compared to the broader market.
Based on FMP financials and quantitative analysis
ILKAY Key Highlights
Market capitalization of $2.03B reflects its significant presence in the mineral sands market.
- Negative P/E ratio of -9.59 indicates current challenges in achieving profitability.
- Gross margin of 19.0% suggests potential for improvement in operational efficiency.
- Dividend yield of 0.78% provides a modest income stream for investors.
- Beta of 0.74 indicates lower volatility compared to the overall market.
Who Are ILKAY's Competitors?
ILKAY is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | MoonshotScore |
|---|---|---|---|---|
| DETRF Deterra Royalties Limited | $3.18 | +0.54% | $1.68B | 479-signal |
| DWMNF Dowa Holdings Co., Ltd. | $56.60 | -8.71% | $3.35B | 429-signal |
| ERMAF Eramet S.a. | $55.45 | 0.00% | $1.58B | 449-signal |
| LINRF Liontown Resources Limited | $0.89 | +1.28% | $2.83B | — |
| NEXA Nexa Resources S.A. | $13.14 | -7.79% | $1.74B | 795-pillar |
| ATUSF Altius Minerals Corporation | $46.52 | -3.53% | $2.73B | 519-signal |
| AFMJF Alphamin Resources Corp. | $1.05 | -1.41% | $1.35B | 499-signal |
| OMZNF Osisko Metals Incorporated | $1.20 | -2.36% | $1.07B | 499-signal |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance This table mixes two scoring engines — compare a number only with others carrying the same tag.
What Are ILKAY's Key Strengths?
Diversified product portfolio (zircon, rutile, ilmenite).
- Global operations across multiple regions.
- Expertise in mineral sands mining and processing.
- Focus on sustainable mining practices.
What Are ILKAY's Weaknesses?
Exposure to cyclical demand in the construction and manufacturing sectors.
- Profitability challenges reflected in negative P/E ratio.
- Dependence on commodity prices.
- Complex regulatory environment.
What Could Drive ILKAY Stock Higher?
Increased demand for zircon in the ceramic industry.
- Potential for new discoveries of rare earth elements.
- Expansion of operations in emerging markets.
- Implementation of new processing technologies to improve efficiency.
- Focus on sustainable mining practices to attract ESG investors.
What Are the Key Risks for ILKAY?
Financial-distress signal — its Altman Z-Score of 1.57 sits in the distress zone (elevated bankruptcy risk).
- Negative return on equity (-12.8%) — the business is not currently generating profit on shareholder capital.
- Weak fundamentals — a Piotroski F-Score of 3/9 flags soft profitability, leverage or efficiency.
- Fluctuations in commodity prices impacting revenue and profitability.
- Increased competition from other mineral sands producers.
- Environmental regulations and community opposition affecting mining operations.
- Geopolitical risks in operating regions.
- Negative P/E ratio and profit margin indicating financial challenges.
What Are the Growth Opportunities for ILKAY?
- Expansion into Rare Earth Elements: Iluka's exploration of rare earth elements like monazite and xenotime presents a significant growth opportunity. The rare earth elements market is projected to reach $18 billion by 2028, driven by demand in electric vehicles, renewable energy, and electronics. Iluka's existing mining infrastructure and expertise could provide a competitive advantage in extracting and processing these valuable materials. Timeline: Ongoing exploration with potential for commercial production within the next 3-5 years.
- Increased Demand from Emerging Markets: Rapid urbanization and infrastructure development in emerging markets, particularly in Asia, are driving increased demand for zircon and titanium dioxide products. Iluka's established presence in the region positions it to capitalize on this growth. The construction sector in Asia is expected to grow by 6% annually, fueling demand for Iluka's products. Timeline: Ongoing, with continuous growth expected over the next 5-10 years.
- Technological Advancements in Processing: Investing in advanced processing technologies can improve efficiency, reduce costs, and enhance the quality of Iluka's products. Innovations in mineral sands processing, such as improved separation techniques and waste reduction methods, can lead to higher margins and a stronger competitive position. The market for advanced mineral processing technologies is expected to grow by 8% annually. Timeline: Implementation of new technologies within the next 2-3 years.
- Strategic Partnerships and Acquisitions: Forming strategic partnerships or acquiring smaller mineral sands companies can expand Iluka's resource base, diversify its product portfolio, and increase its market share. Strategic alliances can also provide access to new technologies and markets. The global mergers and acquisitions market in the mining sector is projected to reach $150 billion by 2027. Timeline: Potential for strategic partnerships or acquisitions within the next 1-2 years.
- Sustainable Mining Practices: Implementing sustainable mining practices and focusing on environmental rehabilitation can enhance Iluka's reputation, attract environmentally conscious investors, and reduce regulatory risks. Demand for sustainably sourced materials is increasing, particularly in developed markets. Companies with strong ESG profiles often command premium valuations. Timeline: Ongoing, with continuous improvement in sustainability practices.
What Are ILKAY's Competitive Advantages?
- Scarcity of high-quality mineral sands deposits.
- Specialized knowledge and expertise in mineral sands mining and processing.
- Long-term relationships with key customers.
- Significant investment in infrastructure and equipment.
What Does ILKAY Do?
Iluka Resources Limited, originally Westralian Sands Limited, was incorporated in 1954 and rebranded in 1999. Headquartered in Perth, Australia, the company is a global leader in the mineral sands industry, focusing on the exploration, project development, mining, processing, marketing, and rehabilitation of mineral sands. Iluka operates through several key segments: Jacinth-Ambrosia/Mid West, Cataby/South West, Sierra Rutile, and United States/Murray Basin. Its primary products include zircon, titanium dioxide products such as rutile and synthetic rutile, and ilmenite. Additionally, Iluka produces activated carbon and iron concentrate products. The company is also involved in the exploration of rare earth elements, including monazite and xenotime. Iluka's products are essential in various applications, including technology, construction, medical, lifestyle, and industrial sectors. With a global presence, Iluka has operations in Australia, China, the rest of Asia, Europe, the Americas, and other international markets, underscoring its significance in the global supply chain for mineral sands.
What Products and Services Does ILKAY Offer?
- Explores for mineral sands deposits.
- Develops and operates mineral sands mining projects.
- Processes mineral sands to produce zircon, rutile, synthetic rutile, and ilmenite.
- Markets and sells its products globally.
- Rehabilitates mined land to minimize environmental impact.
- Explores for rare earth elements.
How Does ILKAY Make Money?
- Iluka generates revenue through the sale of zircon, rutile, synthetic rutile, and ilmenite.
- The company operates mining and processing facilities to extract and refine mineral sands.
- Iluka focuses on long-term supply contracts with customers in various industries.
- The company invests in exploration and project development to expand its resource base.
What Industry Does ILKAY Operate In?
Iluka Resources operates within the industrial materials sector, specifically the mineral sands industry. This sector is characterized by cyclical demand influenced by global construction, manufacturing, and technology trends. The market is competitive, with key players including DTRF (thyssenkrupp), DWMNF (Dow), ERMAF (Eramet), ERMAY (Eramet), and LINRF (Linde). Demand for zircon and titanium dioxide products is driven by urbanization and infrastructure development, particularly in Asia. Iluka's focus on rare earth element exploration positions it to capitalize on the growing demand for these critical materials in various high-tech applications.
Who Are ILKAY's Key Customers?
- Ceramic industry (zircon)
- Titanium dioxide pigment industry (rutile, synthetic rutile, ilmenite)
- Foundry industry (zircon)
- Refractory industry (zircon)
Research confidence
Enough evidence to be useful, with gaps worth knowing about.
- ● Scoring coverage unknown
- ● Price is current
- ● Latest filing 73 days ago
- ● No analyst coverage
- ● Reported in AUD, converted to USD
MoonshotScore History
Recorded daily since 2026-08-23 · 19 snapshots
| 2026-08-23 | 42 |
| 2026-08-26 | 42 |
| 2026-08-29 | 42 |
| 2026-09-01 | 42 |
| 2026-09-04 | 42 |
| 2026-09-07 | 42 |
| 2026-09-10 | 42 |
What changed?
The score has stayed at 42.
Over the same 18 days the stock moved +1.8%.
Company Profile
Iluka Resources Limited operates in the Industrial Materials industry within the Basic Materials sector. It is headquartered in Perth, AU. The company is led by CEO Thomas Joseph Patrick O'Leary B.Juris. ILKAY has traded publicly since 2011.
Iluka Resources Limited Financial Trajectory
Iluka Resources Limited (ILKAY) reported $331.7M in revenue for Q2 FY2026, reflecting 7.6% growth compared to the prior quarter. The company recorded a net loss of $17.4M, with diluted EPS of $-0.21. Revenue has increased across the last three reported quarters, suggesting sustained momentum for this mid-cap Basic Materials company. Across the four most recent quarters, ILKAY averaged $-0.53 in diluted EPS.
How Iluka Resources Limited Is Valued
Iluka Resources Limited carries a market capitalization of $2.03B, placing it in the mid-cap category.
Key Financial Metrics
Return on equity for Iluka Resources Limited stands at -12.8%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is -6.8%, showing how much profit it generates from its asset base. Its free cash flow yield is -29.8%, a gauge of the cash the business throws off relative to its market value. A current ratio of 3.51 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is -9.5%, the inverse of the P/E and a quick read on earnings relative to price.
Financial Health
Iluka Resources Limited's Piotroski F-Score is 3/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny. Its Altman Z-Score of 1.57 places it in the distress zone, a signal of elevated financial risk.
ILKAY Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Diversified product portfolio (zircon, rutile, ilmenite).
- Global operations across multiple regions.
- Expertise in mineral sands mining and processing.
- Focus on sustainable mining practices.
Bear Case
- Exposure to cyclical demand in the construction and manufacturing sectors.
- Profitability challenges reflected in negative P/E ratio.
- Dependence on commodity prices.
- Complex regulatory environment.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q2 FY2026 | $332M | -$17M | -$0.21 |
| Q4 FY2025 | $308M | -$268M | -$3.12 |
| Q2 FY2025 | $207M | $33M | $0.39 |
| Q4 FY2024 | $376M | $70M | $0.82 |
Q2 FY2026 · filed 30 Jun 2026 · Financial Modeling Prep
Based on FMP financials and quantitative analysis · Converted to USD from AUD at today's rate
ILKAY Latest News
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Stocks That Hit 52-Week Lows On Monday
· Aug 26, 2019
ILKAY Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations collected by Financial Modeling Prep for ILKAY.
Price Targets
Wall Street price target analysis for ILKAY.
ILKAY MoonshotScore
MoonshotScore is Stock Expert AI's proprietary 0-100 research rating, not a buy or sell recommendation. No MoonshotScore is published for ILKAY; grades run from A+ (80-100) to F (below 30).
Leadership: Thomas Joseph Patrick O'Leary B.Juris
CEO
Thomas O'Leary holds a B.Juris degree and has extensive experience in the resources sector. Before joining Iluka, he held various leadership positions in major mining companies, focusing on operational efficiency, project development, and strategic planning. His background includes a strong emphasis on sustainable development and stakeholder engagement. He is responsible for managing 1000 employees.
Track Record: Under O'Leary's leadership, Iluka has focused on expanding its rare earth element exploration efforts and improving operational efficiency across its mining operations. He has overseen the implementation of new technologies to enhance processing capabilities and reduce environmental impact. A key milestone has been the advancement of the Eneabba rare earths project.
Iluka Resources Limited ADR Information Unsponsored
An American Depositary Receipt (ADR) is a certificate representing shares of a foreign company trading on U.S. stock exchanges. ILKAY is a Level 1 ADR, meaning it trades over-the-counter (OTC) rather than on a major exchange. This allows U.S. investors to invest in Iluka Resources Limited without dealing with foreign exchanges.
- Home Market Ticker: Australian Securities Exchange (ASX), Australia
- ADR Level: 1
- ADR Ratio: 1:1
- Home Market Ticker: ILKA
ILKAY OTC Market Information
The OTC Other tier represents the lowest tier of the over-the-counter (OTC) market. Companies in this tier often have limited financial disclosure and may not meet minimum listing requirements of major exchanges like the NYSE or NASDAQ. Investing in OTC Other stocks carries higher risks due to the potential for less transparency and regulatory oversight compared to exchange-listed companies.
- OTC Tier: OTC Other
- Limited financial disclosure.
- Lower liquidity and wider bid-ask spreads.
- Potential for higher price volatility.
- Increased risk of fraud or manipulation.
- Less regulatory oversight compared to exchange-listed companies.
- Verify the company's registration and legal status.
- Review available financial statements and disclosures.
- Assess the company's business model and competitive landscape.
- Evaluate the management team and their track record.
- Understand the risks associated with investing in OTC stocks.
- Consult with a financial advisor.
- Check for any regulatory actions or legal disputes.
- Established history as Westralian Sands Limited since 1954.
- Operations in multiple countries, including Australia, China, and the Americas.
- Production of essential materials for various industries.
- Presence of a CEO with relevant experience in the resources sector.
ILKAY Basic Materials Stock FAQ
Is ILKAY a good stock?
Stock Expert AI does not rate ILKAY buy, sell or hold. Iluka Resources Limited has no MoonshotScore yet; read the financial checkup, analyst consensus and risks directly. Whether it fits is your call: check what it sells, whether it earns, what the price assumes, and what would prove you wrong.
What do analysts say about ILKAY stock?
Analyst consensus on ILKAY stock is currently mixed, reflecting the company's complex financial situation. Key valuation metrics such as the negative P/E ratio suggest challenges in achieving profitability.
What are the key factors to evaluate for ILKAY?
Evaluate ILKAY on fundamentals, analyst consensus, and risk factors. However, the negative P/E ratio of -9.59 and a profit margin of -28.4% raise concerns about current profitability. Not financial advice.
How frequently does ILKAY data refresh on this page?
ILKAY's price was last updated on Sep 11, 2026 and refreshes on page view during U.S. market hours; the quote is a provider snapshot, not an exchange feed. Fundamentals update after quarterly filings; the MoonshotScore recalculates nightly; news aggregates continuously.
What has driven ILKAY's recent stock price performance?
Iluka Resources Limited (ILKAY) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Diversified product portfolio (zircon, rutile, ilmenite). See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider ILKAY overvalued or undervalued right now?
Iluka Resources Limited (ILKAY) has no trailing P/E available here, so lean on price-to-sales and cash flow in the Financials tab. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
Can I buy fractional shares of ILKAY?
Yes, most major brokerages offer fractional shares of Iluka Resources Limited (ILKAY) with no minimum purchase requirement. This means you can invest any dollar amount regardless of the share price. Check your brokerage platform for specific terms, fees, and fractional share availability.
How can I track ILKAY's earnings and financial reports?
Iluka Resources Limited (ILKAY) reports quarterly earnings approximately 4-6 weeks after each fiscal quarter ends. You can track earnings dates, revenue and EPS estimates, and actual results on this page's Financials tab. Earnings surprises (beats or misses) often cause significant short-term price moves. Your brokerage can send alerts for ILKAY earnings announcements.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Financial data is based on the most recent available information.
- Analyst opinions may vary.
- OTC market data may be less reliable than exchange-listed data.