0020 GMT - Iluka's 4Q result disappoints Citi analyst Paul McTaggart, with the miner's quarterly mineral sands revenue 17% below the bank's forecast. Aggregate sales volumes of zircon, rutile and synthetic rutile are 12% below Citi's estimates, and Iluka's realized zircon price is 11% below its expectations, McTaggart says. "On a positive note, unit cash costs of production of A$1,290/ton were below guidance," he says. Citi has a high-risk buy rating on Iluka, with a A$6.10 target. The stock is down 8.7% at A$4.86. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
January 21, 2025 19:20 ET (00:20 GMT)
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