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ioneer Limited (AU:INR)
ASX:INR

ioneer Limited (INR) AI Stock Analysis

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AU:INR

ioneer Limited

(Sydney:INR)

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Neutral 52 (OpenAI - 5.2)
Rating:52Neutral
Price Target:
AU$0.22
▲(0.91% Upside)
The score is held back primarily by weak financial performance (pre-revenue operations, recurring losses, and ongoing cash burn), despite a low-debt balance sheet. Technicals are moderately supportive with the price above major moving averages and positive MACD, but overbought signals reduce confidence. Valuation is constrained by negative earnings and no dividend yield data.
Positive Factors
Conservative capital structure
Extremely low leverage and a materially larger equity base give the company durable financial flexibility to fund capital-intensive Rhyolite Ridge development and absorb delays or cost overruns. This reduces near-term refinancing risk and supports longer project timelines.
Value-added product strategy
A business model focused on selling refined lithium chemicals and boron products positions the company for higher margins and direct exposure to battery supply chains. Vertical integration into chemical production is a structural advantage versus miners that sell unprocessed ore.
Rising equity and asset base
Growing equity and assets enhance staying power through the multi-year development phase, lowering the likelihood of imminent insolvency. A stronger balance sheet improves access to partner funding, offtake negotiations, and supports capital raises on more favorable terms.
Negative Factors
Pre-revenue operations
With no operating revenue, the business lacks internal cash generation and remains fully dependent on external financing to reach production. This structural pre-revenue profile amplifies execution and market risks until commercial output is established.
Persistent negative cash flow
Consistent operating and free cash outflows create recurring funding needs during the multi-year build phase. Structural cash burn increases dilution or debt risk, constrains discretionary investment, and heightens vulnerability to capital market disruptions.
Negative returns on capital
Negative ROE indicates deployed capital has not produced profits and underscores long gestation before value realization. Persistent negative returns can erode investor confidence and make it harder to attract long-term strategic partners or favorable financing.

ioneer Limited (INR) vs. iShares MSCI Australia ETF (EWA)

ioneer Limited Business Overview & Revenue Model

Company Descriptionioneer Ltd explores for and develops mineral properties in North America. Its flagship property is the Rhyolite Ridge lithium-boron project located in the state of Nevada, the United States. The company was formerly known as Global Geoscience Limited and changed its name to ioneer Ltd in November 2018. ioneer Ltd was incorporated in 2001 and is based in North Sydney, Australia.
How the Company Makes Moneyioneer Limited generates revenue through the extraction and sale of lithium and boron. The company capitalizes on the growing demand for lithium, driven by its critical role in battery production for electric vehicles and energy storage systems. Boron is also a significant revenue contributor, used in various applications like glass, ceramics, and agriculture. ioneer's primary revenue streams involve long-term supply agreements with major industrial and technological partners. Strategic partnerships and joint ventures further enhance its market position and revenue potential, facilitating access to advanced technologies and expanding its distribution network.

ioneer Limited Financial Statement Overview

Summary
Ioneer Limited's financial health is challenged by the absence of revenue and recurring losses, despite a strong balance sheet with minimal debt. The company faces significant cash flow difficulties that could hinder operations if not addressed.
Income Statement
22
Negative
The company shows no revenue over the recent years, leading to negative profitability metrics. With EBIT, EBITDA, and net income all negative, this signals significant operational challenges and lack of revenue generation capabilities.
Balance Sheet
74
Positive
The balance sheet is relatively strong due to high equity and low debt levels, indicated by a low debt-to-equity ratio. The equity ratio is robust at approximately 97%, showing financial stability and low leverage risk.
Cash Flow
28
Negative
The cash flow analysis indicates negative free cash flow and fluctuating cash flow from operations, highlighting cash management issues. Although the company maintains an adequate cash buffer, the lack of positive free cash flow growth is concerning.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue0.000.000.000.000.000.00
Gross Profit0.000.000.00-51.34K-165.02K-43.55K
EBITDA-10.04K-10.04M-9.08M-9.60M-11.80M-6.67M
Net Income-9.55K-9.55M-7.83M-6.39M-8.50M-7.75M
Balance Sheet
Total Assets233.54M233.54M224.47M205.84M212.62M148.95M
Cash, Cash Equivalents and Short-Term Investments25.06M25.06M35.72M52.59M93.90M62.37M
Total Debt373.00K373.00K1.28M211.50K255.00K247.76K
Total Liabilities3.24M3.24M6.25M8.90M9.52M5.51M
Stockholders Equity230.30M230.30M218.22M196.94M203.10M143.44M
Cash Flow
Free Cash Flow-2.12M-6.80M-43.84M-40.03M-35.35M-22.62M
Operating Cash Flow-2.11M-6.80M-7.20M-6.52M-10.33M-4.84M
Investing Cash Flow-2.10M-13.83M-35.38M-32.47M-25.02M-17.78M
Financing Cash Flow14.75M10.20M25.49M-225.00K75.39M57.34M

ioneer Limited Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.22
Price Trends
50DMA
0.18
Positive
100DMA
0.17
Positive
200DMA
0.15
Positive
Market Momentum
MACD
0.01
Negative
RSI
63.40
Neutral
STOCH
63.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:INR, the sentiment is Positive. The current price of 0.22 is above the 20-day moving average (MA) of 0.20, above the 50-day MA of 0.18, and above the 200-day MA of 0.15, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 63.40 is Neutral, neither overbought nor oversold. The STOCH value of 63.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:INR.

ioneer Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
63
Neutral
AU$327.69M35.886.50%2.13%-94.07%
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
53
Neutral
AU$454.57M-30.00-5.18%47.15%
52
Neutral
AU$588.42M-34.92-4.26%-12.50%
51
Neutral
AU$427.76M3.17145.87%45.56%
44
Neutral
AU$494.91M-16.20-45.39%-91.89%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:INR
ioneer Limited
0.22
0.06
37.50%
AU:GLN
Galan Lithium Limited
0.39
0.26
200.00%
AU:RHI
Red Hill Iron Limited
5.07
1.05
26.12%
AU:MMI
Metro Mining Limited
0.07
0.01
22.81%
AU:CAY
Canyon Resources Limited
0.23
0.05
27.78%

ioneer Limited Corporate Events

Ioneer Limited Announces Change in Company Secretary
Dec 1, 2025

Ioneer Limited announced a change in its company secretary position, with Ian Bucknell resigning and Olga Smejkalova being appointed as his successor. This change is effective immediately and signifies a shift in the company’s administrative leadership, which may impact its communication and compliance operations with the ASX.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.50 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Ltd Announces Change in Director’s Interest
Nov 17, 2025

Ioneer Ltd announced a change in the director’s interest notice, specifically regarding Alan John Bruce Davies. The change involves the expiry of 326,323 unlisted options that were part of a remuneration package approved by shareholders in 2021. This adjustment reflects a routine update in the director’s securities holdings, indicating a decrease in the number of options held by the director, which may impact the company’s governance and stakeholder perceptions.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Limited Announces Expiry of Director’s Options
Nov 17, 2025

Ioneer Limited announced a change in the director’s interest as James Derrick Calaway’s unlisted options expired. This change reflects the expiry of options granted as part of a remuneration package approved by shareholders, impacting the director’s holdings but not altering the company’s strategic direction or operational focus.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Limited Announces Cessation of Securities
Nov 17, 2025

Ioneer Limited announced the cessation of 1,631,615 securities due to the expiry of options or other convertible securities without exercise or conversion as of November 16, 2025. This announcement may impact the company’s capital structure and could influence investor perception and market activity regarding Ioneer’s stock.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Appoints New Interim CFO Amid Strategic Growth
Nov 11, 2025

Ioneer Ltd has appointed April Hashimoto as the Interim Chief Financial Officer, effective November 6, 2025, following the departure of Ian Bucknell. Hashimoto’s extensive experience in the lithium sector and financial leadership is expected to provide strong stewardship during this transition. The company plans to initiate a search for a permanent CFO after a strategic partnering process. This leadership change comes at a pivotal time for Ioneer, as it continues to solidify its position in the lithium market with significant projects and partnerships.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Ltd Announces Director’s Interest Change
Nov 7, 2025

Ioneer Ltd has announced a change in the director’s interest, specifically involving Bernard Anthony Rowe. The change includes the acquisition of 13,877,598 performance rights and 4,379,289 ordinary shares, while 4,379,289 performance rights were disposed of. This adjustment reflects a vesting of employee performance rights into ordinary shares and the issuance of unlisted performance rights as part of a remuneration package approved by shareholders. The changes in securities holdings could impact the company’s governance and align the director’s interests with the company’s performance, potentially influencing stakeholder confidence.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Limited Announces Director’s Interest Change
Nov 7, 2025

Ioneer Limited announced a change in the director’s interest, specifically concerning James Derrick Calaway. The change involved the acquisition and disposal of performance rights and ordinary shares, with the vesting of employee performance rights into ordinary shares and the issuance of unlisted performance rights as part of a remuneration package. This adjustment reflects Ioneer’s ongoing efforts to align its leadership incentives with shareholder interests, potentially impacting the company’s governance and stakeholder confidence.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Boron Gains Critical Mineral Status, Boosting Ioneer’s Rhyolite Ridge Project
Nov 7, 2025

The U.S. Department of Interior has added boron to its 2025 Critical Minerals List, a move that significantly benefits Ioneer’s Rhyolite Ridge Lithium-Boron Project in Nevada. This designation enhances the project’s strategic importance, potentially increasing federal support and attracting private investment by emphasizing the need for domestic production of boron, which is crucial for national security and technology applications. The project, which already benefits from a substantial federal loan, is poised to become a leading domestic source of both lithium and boron, strengthening the U.S. supply chain for these critical minerals.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Ltd Announces Director’s Interest Change
Nov 6, 2025

Ioneer Ltd has announced a change in the director’s interest, specifically regarding Timothy R. Woodall, who has acquired 188,083 performance rights as part of his remuneration package. This change reflects the vesting of performance rights into ordinary shares, indicating a strategic alignment of director incentives with company performance, as approved by shareholders. The adjustment in director interests may influence stakeholder perceptions of governance and executive compensation strategies.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Ltd Announces Director’s Change in Securities Interests
Nov 6, 2025

Ioneer Ltd announced a change in the interests of its director, Margaret R. Walker, involving the acquisition and vesting of performance rights into ordinary shares. This change reflects the company’s ongoing efforts to align director remuneration with shareholder interests, as approved by shareholders. The update indicates a strategic move to strengthen the company’s governance and operational alignment, potentially impacting its market positioning and stakeholder confidence.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Ltd Announces Director’s Change in Securities Holdings
Nov 6, 2025

Ioneer Ltd announced a change in the director’s interest, where Rose E. McKinney-James has seen an increase in her holdings of ordinary shares and performance rights. The change involved the vesting of performance rights into ordinary shares, reflecting a remuneration package approved by shareholders. This adjustment in director’s interest highlights the company’s ongoing commitment to aligning executive compensation with shareholder interests, potentially impacting investor confidence and market perception positively.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Limited Announces Director’s Interest Changes
Nov 6, 2025

Ioneer Limited has announced a change in the interests of its director, Alan John Bruce Davies, involving the acquisition of 188,083 performance rights and 132,190 ordinary shares, while disposing of 132,190 performance rights. This adjustment in the director’s holdings reflects a strategic move within the company, potentially impacting its governance and aligning director incentives with company performance.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Limited Issues Performance Rights to Boost Employee Incentives
Nov 6, 2025

Ioneer Limited announced the issuance of 19,817,960 performance rights as part of an employee incentive scheme. These securities are unquoted and not intended for trading on the ASX, reflecting the company’s strategy to incentivize and retain key personnel. This move is likely to strengthen Ioneer’s operational capabilities and align employee interests with long-term company goals, potentially enhancing its competitive position in the mining sector.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Limited Issues Unquoted Performance Rights
Nov 6, 2025

Ioneer Limited has announced the issuance of 1,015,648 unquoted performance rights, which are part of a previously disclosed transaction. These securities are not intended to be quoted on the ASX, indicating a strategic move possibly aimed at rewarding or incentivizing employees or stakeholders without immediate market implications.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Limited Announces Proposed Issuance of Performance Rights
Nov 5, 2025

Ioneer Limited has announced a proposed issuance of 1,015,648 performance rights as part of a placement or other type of issue. This move is part of the company’s strategy to enhance its capital structure and support its ongoing projects, particularly in the lithium-boron sector. The issuance is expected to strengthen Ioneer’s financial position and potentially improve its market standing, benefiting stakeholders by aligning with the growing demand for electric vehicle and renewable energy materials.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Limited Issues New Securities to Boost Growth
Nov 2, 2025

Ioneer Limited has announced the issuance of 648,457 fully paid ordinary securities, which will be quoted on the Australian Securities Exchange (ASX). This move is part of the company’s strategic efforts to enhance its capital structure and support its growth initiatives in the clean energy sector, potentially strengthening its market position and providing value to its stakeholders.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.36 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Limited Reports AGM Results and Faces First Strike on Remuneration Report
Oct 31, 2025

Ioneer Limited has announced the results of its 2025 Annual General Meeting, where all resolutions, except the adoption of the Remuneration Report, were passed with significant support. The failure to adopt the Remuneration Report, with more than 25% of votes against it, marks a first strike under the Corporations Act 2001. This outcome could impact future governance and compensation strategies within the company.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.36 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Advances Rhyolite Ridge Project Amid Strategic Developments
Oct 31, 2025

Ioneer Limited has made significant progress in advancing its Rhyolite Ridge Project, despite challenges in the global lithium sector. The company is on the verge of a Final Investment Decision and is in the process of securing a strategic partner with the help of Goldman Sachs. Key milestones include receiving a favorable Record of Decision from the Bureau of Land Management and securing a substantial loan from the U.S. Department of Energy, which strengthens the project’s financial foundation. The withdrawal of Sibanye-Stillwater from the joint venture has allowed Ioneer to seek a more strategically aligned partnership. The project is positioned as a world-class asset with low-cost production and strong economic resilience, underpinned by sustainable operations and environmental stewardship.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.36 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

ioneer Limited Advances Rhyolite Ridge Project to Boost Lithium Market Position
Oct 31, 2025

ioneer Limited’s recent presentation highlights the company’s ongoing efforts to optimize its Rhyolite Ridge Lithium-Boron Project, enhancing its economic viability. The announcement underscores ioneer’s commitment to strengthening its position in the lithium market, which is crucial for electric vehicle and renewable energy industries. The company reaffirms its production targets and economic projections, emphasizing the project’s potential impact on its growth and stakeholder value.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.36 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Boosts Rhyolite Ridge Project Economics with Enhanced Production
Oct 29, 2025

Ioneer Ltd has announced significant improvements in the project economics of its Rhyolite Ridge Lithium-Boron Project by reducing leach retention time, which has increased lithium and boron production. This enhancement positions the project in the lowest cost quartile for lithium production globally, with a stable operating cost structure supported by boric acid revenue. The changes have resulted in a 19% increase in the unlevered life of mine NPV and an 8% increase in IRR, with minimal capital expenditure increase. These advancements are expected to strengthen the supply chain for critical minerals in the US, aligning with the growing demand for lithium and boron.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.30 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Limited Highlights Strategic Focus at IMARC Conference
Oct 21, 2025

Ioneer Limited presented at the IMARC Conference, highlighting its strategic focus on lithium and boron production. The presentation emphasized the company’s commitment to advancing its projects and improving project economics, which could potentially enhance its market position and provide significant value to stakeholders. However, the presentation also noted the speculative nature of the company’s securities and the inherent risks involved, urging investors to conduct thorough due diligence.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.30 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

ioneer Limited Reports Quarterly Cash Flow with Strategic Financing
Oct 20, 2025

ioneer Limited’s quarterly cash flow report reveals a net cash outflow from operating and investing activities, amounting to $2.035 million and $3.476 million respectively. However, the company managed to secure $2.117 million from financing activities, which partially offset the cash outflows. This financial maneuvering highlights ioneer’s ongoing efforts to manage its cash reserves while progressing with its mineral exploration and development projects.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.36 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

Ioneer Limited Reports Enhanced Project Economics and Investor Confidence
Oct 20, 2025

Ioneer Limited announced significant improvements in the economics of its Rhyolite Ridge Project, driven by increased production of lithium and boron without additional capital expenditure. The company successfully raised $2.2 million through a Share Purchase Plan, reflecting strong investor confidence in the project’s potential.

The most recent analyst rating on (AU:INR) stock is a Buy with a A$0.36 price target. To see the full list of analyst forecasts on ioneer Limited stock, see the AU:INR Stock Forecast page.

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.Date of analysis: Dec 30, 2025