BUZZ-Australia's Iluka falls as Eneabba refinery costs bite; Citi cuts PT

Reuters
2024-12-09
BUZZ-Australia's Iluka falls as Eneabba refinery costs bite; Citi cuts PT

** Shares of Australian rare-earths miner Iluka Resources ILU.AX fall as much as 2.4% to A$5.05

** Co faces escalating costs and funding challenges for its Eneabba rare earths refinery in Western Australia

** Australia to grant an additional A$400 mln ($255.44 mln) loan to develop its Eneabba rare earths refinery

** Analysts at Citi cut ILU's price target to A$6.10 from A$7.00, maintain "buy" rating

** Citi says update provides more clarity, but uncertainties remain, requiring additional government loans and company investment

** Australian government's increased funding shows commitment, but project profitability is still questionable based on Citi's rare earth price forecasts - brokerage

** Stock down 25.3% this year, as of last close

($1 = 1.5659 Australian dollars)

(Reporting by Roushni Nair in Bengaluru)

((Roushni.Nair@thomsonreuters.com;))

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10