Thoughts on Iluka (ILU) please
I HAVE HELD ILU FOR TWO YEARS AND SHARE IS ON A DOWNHILL. IS THERE LIGHT AT THE END OF THE TUNNEL? TIME TO SELL AND INVEST IN ANOTHER STOCK? MM STILL HOLDS THE STOCK I THINK.
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Answer
Hi Indran,
Iluka (ILU) has been doing it tough for the last 2-years, we sold well but re-entered too early. ILU released their FY24 results last week and they came in slightly ahead of expectations, however, it’s the demand outlook that really matters here, and in particular China. Next week will be a crucial one for ILU and other mining stocks when China’s parliament and top advisory body have a 2-day meeting with a response to trade tariffs no doubt top of the agenda, as they set a growth target for 2025, widely tipped to be 5%.
- If nothing of substance comes from this meeting, Iluka (ILU) is top of mind if we reduce our resource exposure.
