Ionic Rare Earths Limited (AU:IXR)
ASX:IXR
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Ionic Rare Earths Limited
(Sydney:IXR)
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Rating:41Neutral
Price Target:
AU$0.29
â–¼(-34.77% Downside)
Action:ReiteratedDate:03/10/26
The score is held down primarily by weak financial performance (losses, negative margins, falling revenue and free cash flow). Technicals also remain bearish with the stock trading below key moving averages and negative MACD. Valuation provides limited support because the company is loss-making and no dividend yield is available.
Positive Factors
Low financial leverage
Very low debt-to-equity (0.0378) gives the company durable financial flexibility for multi-year project development. Minimal leverage reduces bankruptcy and interest burdens, making it easier to pursue capital-intensive Makuutu build-out via equity or project finance without heavy fixed-cost strain.
Negative Factors
Declining revenue and losses
Consistent revenue decline and negative net margins indicate the company is not yet generating profitable operations. Over a 2-6 month horizon this structural profitability shortfall limits internal funding for project development, increases reliance on external capital, and raises execution risk for commercial ramp-up.
Read all positive and negative factors
Positive Factors
Negative Factors
Low financial leverage
Very low debt-to-equity (0.0378) gives the company durable financial flexibility for multi-year project development. Minimal leverage reduces bankruptcy and interest burdens, making it easier to pursue capital-intensive Makuutu build-out via equity or project finance without heavy fixed-cost strain.
Read all positive factors
Ionic Rare Earths Limited (IXR) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$67.81M
Dividend YieldN/A
Average Volume (3M)33.29M
Price to Earnings (P/E)―
Beta (1Y)1.47
Revenue GrowthN/A
EPS Growth31.55%
CountryAU
Employees34
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.06
Shares Outstanding226,029,460
10 Day Avg. Volume74,196,405
30 Day Avg. Volume33,293,370
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)N/A
Revenue Forecast (FY)N/A
Ionic Rare Earths Limited Business Overview & Revenue Model
Company Description
Ionic Rare Earths Limited operates as a mineral exploration company. Its flagship project is the Makuutu rare earths project that comprises six licenses covering an area of approximately 298 square kilometers located in the eastern Uganda. The com...
How the Company Makes Money
IXR’s intended revenue model is based on developing and operating rare earth extraction and processing projects and generating sales from rare earth products. The primary planned revenue stream is the sale of mixed rare earth carbonate (MREC) prod...
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 | 0.00 | 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 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% | |
56 Neutral | AU$194.16M | -301.32 | -2.84% | ― | ― | -92.31% | |
55 Neutral | AU$220.74M | -17.50 | -26.45% | ― | ― | -3250.00% | |
54 Neutral | AU$151.33M | 4.74 | 2.67% | ― | 593.88% | 80.32% | |
44 Neutral | AU$157.08M | -14.82 | -5.07% | ― | ― | 78.49% | |
44 Neutral | AU$140.41M | -9.50 | -8.83% | ― | ― | ― | |
41 Neutral | AU$67.81M | -3.49 | -30.54% | ― | ― | 31.55% |
* Basic Materials Sector Average
AU:IXR
Ionic Rare Earths Limited
0.28
-0.05
-14.89%
AU:GPR
Geopacific Resources Limited
0.05
0.03
127.27%
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Cygnus Metals Limited
0.11
0.03
37.50%
AU:KAU
Kaiser Reef Ltd
0.25
0.07
35.14%
AU:VTM
Victory Goldfields Limited
1.58
0.99
165.55%
AU:HRN
Horizon Gold Ltd
1.01
0.57
127.48%
Ionic Rare Earths Limited Corporate Events
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...
Ionic Rare Earths Issues New Shares and Confirms Compliance Status
Apr 24, 2026
Ionic Rare Earths Limited has issued 41,303 new ordinary shares on 23 April 2026 and has lodged a cleansing notice confirming the shares were issued without the need for a disclosure document under Australian corporations law. The company stated i...
Ionic Rare Earths Seeks ASX Quotation for Additional Ordinary Shares
Apr 24, 2026
Ionic Rare Earths Limited has applied for quotation on the ASX of 41,303 new ordinary fully paid shares, issued on April 23, 2026, under its existing capital management framework. The relatively small share issuance follows a previously notified t...
Ionic Rare Earths Wins UK Backing as It Expands Global Rare Earth Supply Chain
Apr 24, 2026
Ionic Rare Earths has secured an offer in principle from the UK Government for a £12 million capital grant to help fund a rare earth magnet recycling facility in Belfast, designed to produce 400 tonnes per year of high-purity separated rare e...
Ionic Rare Earths plans modest share placement on ASX
Apr 21, 2026
Ionic Rare Earths Limited has notified the ASX of a proposed issue of 41,303 ordinary fully paid shares. The company plans to complete this placement on 23 April 2026, indicating a relatively small equity raising that modestly increases its capita...
Ionic Rare Earths Appoints New Company Secretary
Apr 16, 2026
Ionic Rare Earths Limited has announced a change in its corporate governance team, appointing Anshu Raghuvanshi of Acclime Corporate Services Australia as Company Secretary, effective 16 April 2026. The move comes as Mark Licciardo, also of Acclim...
Ionic Rare Earths Flags Late Director Interest Notice, Reaffirms Compliance
Apr 10, 2026
Ionic Rare Earths Limited has disclosed that it lodged an Appendix 3Y notice regarding a change in director Brett Lynch’s shareholdings, relating to a transaction that actually occurred on 6 August 2025. The filing delay was attributed to an...
Ionic Rare Earths Issues New Shares with Cleansing Notice Confirmation
Mar 20, 2026
Ionic Rare Earths Limited has issued 88,337 new ordinary shares on 20 March 2026 and has lodged a cleansing notice stating that the shares were issued without a prospectus under the relevant provisions of the Corporations Act. The company confirme...
Ionic Rare Earths Seeks ASX Quotation for Additional Shares
Mar 20, 2026
Ionic Rare Earths Limited has applied to the ASX for quotation of 88,337 new ordinary fully paid shares under its IXR ticker. The shares, issued on March 20, 2026, expand the company’s quoted capital base, potentially enhancing liquidity for...
Ionic Rare Earths Plans Modest Share Placement to Support Operations
Mar 17, 2026
Ionic Rare Earths Limited has notified the ASX of a proposed placement of up to 88,337 ordinary fully paid shares, under an Appendix 3B filing. The new securities, expected to be issued on March 20, 2026, represent a modest capital raise that will...
Ionic Rare Earths Files Half-Year Financial Report for December 2025
Mar 6, 2026
Ionic Rare Earths Limited has released its half-year financial report for the period ended 31 December 2025, detailing the company’s financial performance, position, and cash flows. The report also includes directors’ and auditor’...
Ionic Rare Earths Seeks ASX Quotation for New Share Issue
Mar 3, 2026
Ionic Rare Earths Limited has applied to the ASX for quotation of 16,667 new fully paid ordinary shares under the code IXR, following the issue of these securities on 2 March 2026. The small share issuance, arising from the exercise or conversion ...
Ionic Rare Earths Issues New Shares Under Disclosure Exemption
Mar 2, 2026
Ionic Rare Earths Limited has issued 416,667 new ordinary shares on 2 March 2026 without a full prospectus under the disclosure exemptions of the Corporations Act. The company stated it remains compliant with its financial reporting and continuous...
Ionic Rare Earths Seeks ASX Quotation for Additional Shares
Mar 2, 2026
Ionic Rare Earths Limited has applied for quotation on the ASX of 416,667 new fully paid ordinary shares under the code IXR. The securities, issued on 2 March 2026, reflect a modest capital expansion that may provide additional funding flexibility...
Ionic Rare Earths Plans Placement of New Ordinary Shares
Feb 27, 2026
Ionic Rare Earths Limited has notified the ASX of a proposed issue of up to 416,667 fully paid ordinary shares under a placement or similar capital-raising mechanism. The new securities are expected to be issued on 2 March 2026, with the company s...
Ionic Rare Earths Reshapes Organisation as FORGE Backs Belfast Magnet Recycling Hub
Feb 10, 2026
Ionic Rare Earths is overhauling its organisation to accelerate global expansion in rare earth magnet recycling, including relocating Managing Director Tim Harrison to the UK and appointing seasoned industry advisors. These moves support the scale...
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.