Australia's Iluka Resources falls as Macquarie cuts PT on low earnings outlook

Iluka Resources

19/12/2023 03:01

** Shares of Iluka Resources  ILU.AX  fall as much as 1.5%
to A$6.670 
    ** Analysts at Macquarie Stock reduce price target to A$8.90
from A$9.3 on weakened earnings outlook 
    ** Adjusts capital expenditure estimate to reflect co's
capex for Eneabba phase 3 of A$1.8 billion, a 50%-80% increase
from previous guidance  
    ** Adds 4%-22% cut in CY25-CY27 earnings per share forecast
    ** Three of 9 analysts rate the stock "Buy" or higher, 3
"Hold" and 3 "Sell" or lower; their median PT is A$7.68 - LSEG
data
    ** Stock has fallen 29% this year as of last close

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))