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Ionic Rare EARTHS Ltd (IXR) fair value: what the stock is really worth

As of Nov 11, 2026: fair value (intrinsic value) of Ionic Rare EARTHS Ltd stock A$0.25, price A$0.43, that is 40.8% below the price, quality 28 out of 100. Rating: strongly overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Basic Materials AU · ISIN AU0000081341

IR Ionic Rare EARTHS Ltd logo Thin data Nov 10, 2026

Ionic Rare EARTHS Ltd

IXR · AU
Very expensive, weak quality

Our calculation puts a fair price 41% below what the stock costs today.

Mixed Growth (revenue 5y +346.4 %/yr in AUD)
Revenue last quarter 32% below a year ago.
Fair value A$0.2544 · Strongly overvalued
Quality 28/100
Negative free cash flow
Trails peers (0/7)
Narrow moat 9/100
Thin data
⟳ CyclicalEstimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

A$2.64 A$0.1500 Fair Value A$0.2544 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range A$0.1500 – A$2.64 · fair‑value band A$0.1908 – A$0.3180 · the A$0.4300 price screens above the A$0.2544 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Ionic Rare Earths Limited engages in the mining, refining, and recycling of magnet and heavy rare earth elements in Australia, Uganda, and United Kingdom.

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Its flagship project is the Makuutu rare earths project that comprises six licenses covering an area of approximately 300 square kilometers located in Uganda. The company refines and recycles magnet and heavy rare earth elements for energy transition, manufacturing, and defense sectors.

The company was incorporated in 1998 and is based in Melbourne, Australia.

Stock analysis

Ionic Rare EARTHS Ltd (IXR) currently trades at A$0.4300, while our estimate is A$0.2544, 41% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: A$0.1908 (bear) to A$0.3180 (bull), the price of A$0.4300 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 28/100 (below-average quality), in the Basic Materials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Ionic Rare EARTHS Ltd reported revenue of A$2.2M in FY2025 versus A$1.2K in FY2021, a compound +551.6%/yr. Reported net income was −A$14.9M in FY2026.

Key figures

Market cap A$111M (≈ $76.2M) Micro · P/S ratio 95.3 · EPS (TTM) A$−0.0700 · Return on equity −47.3% · Return on assets (EBIT) −30.0% (5-year average) · Operating margin −1,160% · Revenue (TTM) A$1.2M · Revenue growth (YoY) −32.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 9 out of 100 (medium confidence).

What moves the price

The share trades about 32% below its 52-week high and 62% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −10% fair-value upside, at −41%, IXR screens richer than that median.

Fair Value

Bear A$0.1908 Fair Value A$0.2544 Bull A$0.3180
Price A$0.4300 · Downside -40.8%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 28/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 12
Are margins and returns getting better?
Cashflow 10
Do the profits arrive as real cash?
Financial strength 83
Debt, balance sheet and risk of trouble
Investment 67
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 67
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 37
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 24/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−1.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+114.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+346.4%
Start year 2020 (pandemic)
Revenue growth 24 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.1%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−116,396.9% (2020) → −300.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

IXR screens overvalued: fair value 41% below the price. Compare with BHP Group →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Other Industrial Metals & Mining · 577 stocks

Beats the industry median on 0/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 28 · Bottom 25%
Fair Value upside −40.8% · Bottom 25%
Profitability
Return on assets −41.8% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −32.3% · Bottom 25%

Valuation Multiplesvs Other Industrial Metals & Mining median · lower = cheaper

P/B 3.31× · Pricier than median
P/S (12 months) 89.05× · Priciest 25%

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Vedanta Limited VEDL ₹262.00 ₹334.17 +28% vs IXR
Saudi Arabian Mining Company 1211 57.00 SAR 64.24 SAR +13% vs IXR
Western Mining Co 601168 ¥28.25 ¥30.98 +10% vs IXR
Hindustan Zinc Limited HINDZINC ₹575.95 ₹624.91 +9% vs IXR
Boliden AB BOL kr 515.20 kr 464.45 −10% vs IXR
BHP Group BHP A$60.39 A$47.47 −21% vs IXR
Zhejiang Huayou Cobalt Co 603799 ¥32.69 ¥25.57 −22% vs IXR
Korea Zinc Company 010130 967,000 KRW 649,125 KRW −33% vs IXR
CMOC Group 603993 ¥13.71 ¥6.82 −50% vs IXR
China Tungsten And Hightech Materials Co 000657 ¥40.90 ¥4.44 −89% vs IXR

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Ionic Rare EARTHS Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Ionic Rare EARTHS Ltd Fair Value". https://www.fairvalue-calculator.com/stock/IXR

Frequently asked questions

Is Ionic Rare EARTHS Ltd (IXR) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is A$0.2544 versus a price of A$0.4300, about 41% lower (overvalued).
What is the fair value of IXR?
Our estimate for Ionic Rare EARTHS Ltd is A$0.2544 (as of Nov 10, 2026), built from audited fundamentals. The current price: A$0.4300.
What is the quality score of IXR?
Ionic Rare EARTHS Ltd has a Quality Score of 28/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Ionic Rare EARTHS Ltd (IXR)?
Our calculated price target is the estimate of A$0.2544 (as of Nov 10, 2026). Cautious scenario A$0.1908, optimistic scenario A$0.3180. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Ionic Rare EARTHS Ltd stock forecast for 2026?
Our estimate puts fair value at A$0.2544, about 41% lower versus a price of A$0.4300 (overvalued). Cautious scenario A$0.1908, optimistic scenario A$0.3180. The calculation is refreshed regularly with new filings.
What is the revenue of Ionic Rare EARTHS Ltd (IXR)?
Ionic Rare EARTHS Ltd reported trailing-twelve-month revenue of about A$1.2M (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Ionic Rare EARTHS Ltd (IXR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ionic Rare EARTHS Ltd it is A$0.2544 per share (as of Nov 10, 2026), against a price of A$0.4300.
Is Ionic Rare EARTHS Ltd stock overvalued or undervalued in 2026?
As of Nov 10, 2026, IXR trades above its calculated fair value: price A$0.4300, fair value A$0.2544, a gap of about −41% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of IXR?
No. The price is what the market pays today (A$0.4300); the fair value is what the company's own numbers justify (A$0.2544). For Ionic Rare EARTHS Ltd the two are A$0.1756 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ionic Rare EARTHS Ltd worth?
The market values Ionic Rare EARTHS Ltd at about A$111M (market capitalisation, as of Nov 10, 2026). Per share that is A$0.4300; our models calculate a fair value of A$0.2544 per share.
What do the bullish and bearish scenarios say about IXR?
Our models span a range for Ionic Rare EARTHS Ltd: cautious scenario A$0.1908, base A$0.2544, optimistic A$0.3180 per share (as of Nov 10, 2026, price A$0.4300). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Ionic Rare EARTHS Ltd (IXR)?
Balance-sheet figures for Ionic Rare EARTHS Ltd (as of Nov 10, 2026): return on equity −47.3%. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is IXR from its 52-week high?
Ionic Rare EARTHS Ltd trades at A$0.4300, about 32% below its 52-week high of A$0.6350 and 62% above the low of A$0.2650 (as of Nov 11, 2026). Distance from the high says nothing about value: that is what the fair value of A$0.2544 is for.
Which stocks are comparable to Ionic Rare EARTHS Ltd?
From the same area (Basic Materials) we also value BHP Group, Saudi Arabian Mining Company, CMOC Group, Hindustan Zinc Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Ionic Rare EARTHS Ltd stock attractive at the current price?
The data as of Nov 10, 2026: price A$0.4300, calculated fair value A$0.2544 (−41%), Quality Score 28/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Ionic Rare EARTHS Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Ionic Rare EARTHS Ltd (IXR)?
The closing price on Nov 11, 2026 was A$0.4300. Our estimate is A$0.2544, about 41% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ionic Rare EARTHS Ltd right now?
The price sits above even our optimistic bull case (A$0.3180). The favourable scenario is already priced in. Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Ionic Rare EARTHS Ltd

How large is the market capitalisation of Ionic Rare EARTHS Ltd (IXR)?
The market capitalisation of Ionic Rare EARTHS Ltd is A$111M (≈ $76.2M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Ionic Rare EARTHS Ltd (IXR)?
The price-to-sales ratio of Ionic Rare EARTHS Ltd is 95.3 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ionic Rare EARTHS Ltd (IXR)?
Earnings per share at Ionic Rare EARTHS Ltd are A$−0.0700. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Ionic Rare EARTHS Ltd (IXR)?
The return on equity (ROE) of Ionic Rare EARTHS Ltd is −47.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Ionic Rare EARTHS Ltd (IXR)?
On an EBIT basis the return on assets of Ionic Rare EARTHS Ltd is −30.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Ionic Rare EARTHS Ltd (IXR)?
The operating margin of Ionic Rare EARTHS Ltd is −1,160% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ionic Rare EARTHS Ltd (IXR)?
Revenue at Ionic Rare EARTHS Ltd is growing −32.3% versus a year earlier (3y avg +115%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Ionic Rare EARTHS Ltd (IXR) generate?
The free cash flow of Ionic Rare EARTHS Ltd is −A$15.5M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Ionic Rare EARTHS Ltd (IXR) hold?
Ionic Rare EARTHS Ltd holds more cash than debt, A$3.2M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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