ioneer Limited (AU:INR)
ASX:INR
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ioneer Limited
(Sydney:INR)
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Rating:52Neutral
Price Target:
AU$0.17
▲(19.29% Upside)
Action:Reiterated
Date:05/14/26
The score is held down primarily by weak financial performance (pre-revenue status, ongoing losses, and cash burn). Technicals provide a moderate offset with the price trading above key moving averages and positive momentum, while valuation remains challenged due to negative earnings and no dividend support.
Positive Factors
Conservative balance sheet
Extremely low leverage and materially larger equity provide durable financial flexibility for a pre-production developer. This reduces near-term insolvency risk, improves access to project financing, and allows the company to weather development delays without immediate refinancing pressure.
Negative Factors
Pre-revenue status
Zero operating revenue means the business depends entirely on external capital until production. This creates execution and financing risk: value realization hinges on permitting, construction finance, and securing offtake contracts before revenues materialize, delaying profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Extremely low leverage and materially larger equity provide durable financial flexibility for a pre-production developer. This reduces near-term insolvency risk, improves access to project financing, and allows the company to weather development delays without immediate refinancing pressure.
Read all positive factors
ioneer Limited (INR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$461.20M
Dividend YieldN/A
Average Volume (3M)6.29M
Price to Earnings (P/E)―
Beta (1Y)1.41
Revenue GrowthN/A
EPS Growth5.36%
CountryAU
Employees3
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding3,074,634,000
10 Day Avg. Volume5,640,890
30 Day Avg. Volume6,289,984
Financial Highlights & Ratios
PEG Ratio-1.12
Price to Book (P/B)0.65
Price to Sales (P/S)0.00
P/FCF Ratio-21.85
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$0.43Price Target Upside207.14% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.19
Revenue Forecast (FY)N/A
ioneer Limited Business Overview & Revenue Model
Company Description
ioneer 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 Limi...
How the Company Makes Money
ioneer Limited does not have publicly available information indicating sustained operating revenue from producing and selling minerals; its business model is primarily pre-production project development. If and when its Rhyolite Ridge project ente...
ioneer Limited Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
74
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -180.25K | 0.00 | 0.00 | -51.34K | -165.02K | -43.55K |
| EBITDA | -4.95K | -10.04M | -9.08M | -9.60M | -11.80M | -6.67M |
| Net Income | -4.15M | -9.55M | -7.83M | -6.39M | -8.50M | -7.75M |
Balance Sheet | ||||||
| Total Assets | 232.70M | 233.54M | 224.47M | 205.84M | 212.62M | 148.95M |
| Cash, Cash Equivalents and Short-Term Investments | 17.88M | 25.06M | 35.72M | 52.59M | 93.90M | 62.37M |
| Total Debt | 335.23K | 373.00K | 1.28M | 211.50K | 255.00K | 247.76K |
| Total Liabilities | 2.33M | 3.24M | 6.25M | 8.90M | 9.52M | 5.51M |
| Stockholders Equity | 230.37M | 230.30M | 218.22M | 196.94M | 203.10M | 143.44M |
Cash Flow | ||||||
| Free Cash Flow | 1.52M | -6.80M | -43.84M | -40.03M | -35.35M | -22.62M |
| Operating Cash Flow | 1.53M | -6.80M | -7.20M | -6.52M | -10.33M | -4.84M |
| Investing Cash Flow | 6.41M | -13.83M | -35.38M | -32.47M | -25.02M | -17.78M |
| Financing Cash Flow | 6.03M | 10.20M | 25.49M | -225.00K | 75.39M | 57.34M |
ioneer Limited Technical Analysis
Neutral
0.14
Price Trends
0.13
Positive
0.16
Negative
0.16
Negative
Market Momentum
<0.01
Negative
52.14
Neutral
44.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:INR, the sentiment is Neutral. The current price of 0.14 is below the 20-day moving average (MA) of 0.14, above the 50-day MA of 0.13, and below the 200-day MA of 0.16, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 52.14 is Neutral, neither overbought nor oversold. The STOCH value of 44.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AU:INR.
ioneer 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% | |
57 Neutral | AU$560.24M | -15.69 | -4.22% | ― | ― | 56.94% | |
52 Neutral | AU$461.20M | -17.97 | -1.80% | ― | ― | 5.36% | |
49 Neutral | AU$712.29M | 0.05 | 154.06% | ― | ― | ― | |
47 Neutral | AU$1.04B | -8.93 | -10.17% | ― | -100.00% | 59.85% | |
47 Neutral | AU$184.54M | -4.93 | -19.15% | ― | ― | 17.32% | |
41 Neutral | AU$33.71M | -25.46 | -107.26% | ― | ― | 71.99% |
* Basic Materials Sector Average
AU:INR
ioneer Limited
0.15
0.02
16.00%
AU:CXO
Core Lithium Ltd
0.32
0.23
250.00%
AU:LKE
Lake Resources N.L.
0.08
0.04
134.37%
AU:NMT
Neometals Ltd
0.04
-0.06
-61.96%
AU:EUR
European Lithium
0.42
0.36
713.73%
AU:GLN
Galan Lithium Limited
0.42
0.31
315.00%
ioneer Limited Corporate Events
Ioneer Corrects Cash Position and Bolsters Funding for Rhyolite Ridge Development
Apr 30, 2026
Ioneer Ltd has corrected its reported cash position, stating it held US$61.68 million in cash and equivalents as of 31 March 2026, with roughly two-thirds in U.S. dollars and the remainder in Australian dollars. The company also highlighted that i...
Ioneer Secures Funding and Legal Win as Rhyolite Ridge Nears Key Partnering Milestone
Apr 30, 2026
Ioneer strengthened its balance sheet in the March 2026 quarter by completing a US$50 million equity placement, supported by new and existing institutional investors, to accelerate development of its fully permitted, shovel-ready Rhyolite Ridge pr...
Ioneer Secures US$50m, Wins Key Court Ruling for Rhyolite Ridge
Apr 30, 2026
Ioneer has strengthened its balance sheet with an equity placement of about US$50 million, backed by new and existing institutional investors, to accelerate development of its fully permitted, shovel-ready Rhyolite Ridge lithium-boron project. Pro...
Ioneer Sets Fully Virtual 2026 AGM, Promotes Digital Shareholder Engagement
Apr 20, 2026
Ioneer Limited has invited shareholders to its 2026 Annual General Meeting, which will be held on 21 May 2026 at 10:00 am AEST as a fully virtual event via the Lumi AGM platform. Shareholders are encouraged to review meeting materials online, part...
Court backs Ioneer’s Rhyolite Ridge mine plan, clearing path for U.S. lithium-boron project
Mar 31, 2026
A U.S. District Court in Nevada has upheld federal approval of Ioneer’s Rhyolite Ridge Lithium-Boron Project, confirming that regulators complied with major environmental and land management laws in their review. The ruling removes a key leg...
Ioneer Director Increases Indirect Shareholding via On-Market Purchase
Mar 25, 2026
Ioneer disclosed a change in director Timothy R. Woodall’s interests, reporting that his self-managed superannuation fund acquired 200,000 additional ordinary shares in the company on 24 March 2026 via an on-market trade at $0.108 per share....
Ioneer outlines 2025 governance framework and diversity profile
Mar 18, 2026
Ioneer Ltd has detailed its corporate governance framework for the year to 31 December 2025, reaffirming its commitment to high ethical standards and alignment with the ASX Corporate Governance Council’s Principles and Recommendations. The B...
Ioneer Files Updated Corporate Governance Statement and Appendix 4G with ASX
Mar 18, 2026
Ioneer Ltd has lodged its Appendix 4G and confirmed that its updated corporate governance statement for the year ended 31 December 2025 is available on its website, current as of 18 March 2026 and approved by the board. The filing outlines how the...
ioneer Releases Half-Year 2025 Annual Report Detailing Financials and Operations
Mar 18, 2026
ioneer Limited has released its annual report for the six months ended 31 December 2025, providing a comprehensive overview of its financial performance, operational progress, and governance matters. The report includes the executive chair’s...
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.