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Ionic Rare Earths Limited
(Sydney:IXR)
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Rating:46Neutral
Price Target:
AU$0.31
â–¼(-16.49% Downside)
Action:Reiterated
Date:05/14/26
The score is driven primarily by weak financial performance, including ongoing losses, declining revenue, and deteriorating free cash flow growth, partially offset by very low leverage. Technicals are moderately supportive in the short-to-medium term (price above key moving averages) but remain weaker long-term (below the 200-day), while valuation is constrained by the negative P/E and lack of dividend support.
Positive Factors
Very low leverage / strong equity base
A very low debt-to-equity ratio provides lasting financial flexibility for a development-stage miner, lowering bankruptcy and interest-service risk. This structural balance sheet strength supports continued project funding options and resilience through capital cycles while the Makuutu project advances.
Negative Factors
Declining revenue and persistent losses
A multi-year pattern of falling revenue and negative profit margins signals weak commercial traction and ongoing operational losses. Structurally, sustained losses hamper internal funding for development, increase reliance on external capital, and indicate the company has not yet achieved scalable, profitable operations.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage / strong equity base
A very low debt-to-equity ratio provides lasting financial flexibility for a development-stage miner, lowering bankruptcy and interest-service risk. This structural balance sheet strength supports continued project funding options and resilience through capital cycles while the Makuutu project advances.
Read all positive factors
Ionic Rare Earths Limited (IXR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$94.74M
Dividend YieldN/A
Average Volume (3M)513.86K
Price to Earnings (P/E)―
Beta (1Y)0.85
Revenue GrowthN/A
EPS Growth31.55%
CountryAU
Employees34
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)-0.06
Shares Outstanding256,059,840
10 Day Avg. Volume592,937
30 Day Avg. Volume513,861
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)2.09
Price to Sales (P/S)28.37
P/FCF Ratio-10.43
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-3.38
Revenue Forecast (FY)AU$1.37M
Ionic Rare Earths Limited Business Overview & Revenue Model
Company Description
Specializing in mineral exploration, Ionic Rare Earths Limited's main undertaking is the Makuutu rare earths project. This significant venture, located in eastern Uganda, comprises six permits spanning an area of approximately 298 square kilometer...
How the Company Makes Money
null...
Ionic Rare Earths Limited Financial Statement Overview
Summary
Income Statement
35
Negative
Balance Sheet
50
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 848.05K | 2.18M | 2.21M | 2.76M | 220.43K | 213.95K |
| Gross Profit | -970.65K | 2.18M | 2.21M | -575.81K | 159.78K | 213.95K |
| EBITDA | -8.74M | -10.14M | -19.10M | -7.96M | -4.58M | -2.38M |
| Net Income | -10.93M | -11.34M | -21.20M | -8.54M | -4.64M | -2.38M |
Balance Sheet | ||||||
| Total Assets | 43.63M | 32.56M | 37.57M | 44.52M | 48.97M | 18.08M |
| Cash, Cash Equivalents and Short-Term Investments | 12.41M | 595.23K | 4.94M | 11.12M | 26.76M | 11.06M |
| Total Debt | 347.85K | 1.12M | 489.35K | 143.72K | 34.96K | 136.40K |
| Total Liabilities | 1.66M | 2.97M | 1.06M | 961.26K | 816.96K | 531.10K |
| Stockholders Equity | 41.98M | 29.59M | 36.51M | 43.56M | 48.15M | 17.55M |
Cash Flow | ||||||
| Free Cash Flow | -9.14M | -5.93M | -24.58M | -14.24M | -12.73M | -4.50M |
| Operating Cash Flow | -9.06M | -5.89M | -23.22M | -11.66M | -3.58M | -1.33M |
| Investing Cash Flow | 47.19K | 1.35M | 270.55K | -5.51M | -10.60M | -4.12M |
| Financing Cash Flow | 19.39M | 3.53M | 13.86M | 1.35M | 29.89M | 15.68M |
Ionic Rare Earths Limited Technical Analysis
Negative
0.37
Price Trends
0.41
Negative
0.42
Negative
Market Momentum
-0.04
Positive
32.84
Neutral
35.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:IXR, the sentiment is Negative. The current price of 0.37 is above the 20-day moving average (MA) of 0.34, below the 50-day MA of 0.41, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of -0.04 indicates Positive momentum. The RSI at 32.84 is Neutral, neither overbought nor oversold. The STOCH value of 35.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:IXR.
Ionic Rare Earths Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
49 Neutral | AU$234.45M | -57.41 | -4.01% | ― | ― | 77.84% | |
46 Neutral | AU$94.74M | -6.57 | -30.54% | ― | ― | 31.55% | |
46 Neutral | AU$125.86M | -41.67 | -0.88% | ― | ― | 78.67% | |
44 Neutral | AU$535.87M | -88.37 | -2.31% | ― | ― | 41.89% | |
39 Underperform | AU$75.22M | -13.91 | -3.73% | ― | ― | 51.89% |
* Basic Materials Sector Average
AU:IXR
Ionic Rare Earths Limited
0.38
-0.16
-29.50%
AU:LAC
Ardiden
0.35
0.18
105.88%
AU:GG8
Labyrinth Resources Limited
0.32
-0.09
-20.99%
AU:WC8
Wildcat Resources Ltd.
0.38
0.19
102.70%
AU:DLI
Delta Lithium Limited
0.18
0.02
12.50%
Ionic Rare Earths Limited Corporate Events
Ionic Rare Earths Requests Trading Halt Ahead of Capital Raising
Aug 2, 2026
Ionic Rare Earths Limited, an ASX-listed rare earths explorer and developer, operates in the critical minerals sector supplying inputs for high-tech and clean energy applications. The company leverages Australia’s capital markets and regulat...
Ionic Rare Earths Seeks ASX Quotation for New Share Issue
Jul 31, 2026
Ionic Rare Earths Limited has applied for quotation of 67,413 new ordinary fully paid shares on the ASX, with an issue date of July 27, 2026. These securities form part of previously announced transactions and will be traded under the company̵...
Ionic Rare Earths Advances Global Magnet Recycling and Heavy REE Supply Strategy
Jul 31, 2026
Ionic Rare Earths Limited reported continued global expansion of its ex-China rare earth supply chain strategy, led by its U.K.-based Ionic Technologies unit, which has demonstrated a first-of-its-kind e-motor magnet supply chain using long-loop r...
Ionic Rare Earths Launches Strategic Review of Makuutu Amid Western Supply Shift
Jul 30, 2026
Ionic Rare Earths Limited has launched a strategic review of its Makuutu Heavy Rare Earths Project in response to rising Western demand for non-Chinese sources of medium and heavy rare earths. The review, conducted via its 60%-owned Rwenzori Rare ...
Ionic Rare Earths Plans Modest Share Placement to Support Rare Earth Strategy
Jul 24, 2026
Ionic Rare Earths Limited has lodged an Appendix 3B with the ASX outlining a proposed issue of 67,413 fully paid ordinary shares. The new securities are to be issued via a placement or similar mechanism, with the proposed issue date set for 27 Jul...
Ionic Rare Earths Advances Belfast Magnet Recycling Facility with FEED Contract and Permitting Progress
Jul 12, 2026
Ionic Rare Earths Limited has appointed Tenova Advanced Technologies to conduct front-end engineering design for its planned rare earth magnet recycling facility in Belfast, leveraging Ionic Technologies’ proprietary processes. The FEED work...
Ionic Rare Earths boosts EMEA push with new COO to drive Belfast magnet recycling plant
Jul 9, 2026
Ionic Rare Earths Limited has appointed British executive Sean Sargent as Chief Operating Officer for the EMEA region, tasking him with leading the commercial rollout of a rare earth permanent magnet recycling facility in Belfast and overseeing wi...
Ionic Rare Earths Wins U.K. Backing for Belfast Magnet Recycling Plant
Jul 6, 2026
Ionic Rare Earths Limited has underlined its growing strategic role in the U.K.’s critical minerals push by hosting Industry Minister Chris McDonald at its Ionic Technologies demonstration plant in Belfast. The visit highlighted the company&...
Ionic Rare Earths Issues Cleansing Notice for New Share Allotment
May 29, 2026
Ionic Rare Earths Limited has issued new ordinary shares on 28 May 2026 without a prospectus, relying on provisions of the Corporations Act that allow such issuance without full disclosure. The company states it is up to date with its financial re...
Ionic Rare Earths Seeks ASX Quotation for Additional Ordinary Shares
May 29, 2026
Ionic Rare Earths Limited has applied to the ASX for quotation of 536,002 new ordinary fully paid shares under its IXR ticker. The shares, issued on 28 May 2026, arise from the exercise or conversion of existing options or other convertible securi...
Ionic Rare Earths Seeks ASX Quotation for Additional Shares
May 29, 2026
Ionic Rare Earths Limited has applied to the ASX for quotation of 42,889 new ordinary fully paid shares, expanding the number of IXR securities available for trading. The modest share issue, which stems from previously announced transactions, incr...
Ionic Rare Earths Plans Modest Share Issue to Boost Capital
May 28, 2026
Ionic Rare Earths Limited has notified the ASX of a proposed issue of 42,889 fully paid ordinary shares under a placement or similar capital-raising mechanism. The securities are expected to be issued and quoted on the same day as the announcement...
Ionic Rare Earths partners with Nth Cycle to cut costs and decarbonise rare earth refining
May 21, 2026
Ionic Rare Earths has signed a Joint Development and Licensing Agreement with U.S.-based refining technology firm Nth Cycle to integrate proprietary electro-extraction into its rare earth recycling and refining operations in the United States and ...
Ionic Rare Earths Showcases First Western Recycled Supply Chain for EV Motor Magnets
May 10, 2026
Ionic Rare Earths, via its UK subsidiary Ionic Technologies, has led a collaboration with Less Common Metals, GKN and Ford UK to create what it calls the first fully recycled rare earth oxide supply chain in the Western world for electric motor ma...
Ionic Rare Earths Reaffirms Makuutu Estimates in Investor Update
May 5, 2026
Ionic Rare Earths Limited has released an investor presentation providing an update on its current activities, including technology development at Ionic Technologies in the UK, progress within the Viridion joint venture in Brazil, and ongoing expl...
Ionic Rare Earths to Brief Investors as Belfast Plant Decision Nears
May 5, 2026
Ionic Rare Earths Limited has scheduled an investor webinar to be hosted by Managing Director and CEO Tim Harrison, where he will outline the latest developments as the company moves toward a Final Investment Decision for its Belfast Plant. The se...
Ionic Rare Earths to Present Global Magnet Recycling Strategy at Emerging Growth Conference
May 4, 2026
Ionic Rare Earths Limited will present at the Emerging Growth Conference on 8 May 2026 AEST, offering individual and institutional investors, analysts and advisors an update on its growth outlook in the global rare earths market. Managing Director...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.