0122 GMT - While zircon prices are increasing, conditions in Iluka's core market remain challenging, says Morgan Stanley analyst Rahul Anand. Iluka expects a US$45/ton gain in prices in 2Q, although its Cataby mine remains idled. Anand says Iluka's 1Q total zircon, rutile, and synthetic rutile output misses expectations, falling roughly 23% below both consensus and MS estimates. Sales and revenue also miss. MS has an overweight rating and A$7.90 target on Iluka. Shares are down 0.9% at A$7.59. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
April 21, 2026 21:22 ET (01:22 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.