Macquarie keeps Buy rating at AUD 5.25 for PLS Group stock
Published on 10/20/2026 at 19:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSMacquarie target and reporting date
- Macquarie set an AUD 5.25 target and maintained a Buy rating on October 18, 2026.
- PLS committed more than AUD 2.50 billion to Pilgangoora expansion, with first production expected in the September quarter of 2029.
- PLS Group stock costs EUR 1.85 at Lang & Schwarz on October 20, 2026 at 7:15 p.m. CEST.
- The September quarter report is scheduled for October 28, 2026.
Macquarie maintained a Buy rating on PLS Group and set an AUD 5.25 price target on October 18, 2026, according to Markets Insider. Against the ASX price of AUD 2.93 on October 20, 2026 at 3:10 p.m. AEST, that target is 79.18 percent above the price. PLS Group (ISIN AU000000PLS0) was trading at EUR 1.85 at Lang & Schwarz on October 20, 2026 at 7:15 p.m. CEST.
Pilgangoora expansion sets the scale
PLS committed more than AUD 2.50 billion to expand and upgrade Pilgangoora, including AUD 1.90 billion for the P2000 project and AUD 600.00 million to AUD 650.00 million for infrastructure. Australian Resources and Investment reported on October 19, 2026 that first production is expected in the September quarter of 2029 and that the expansion would lift spodumene concentrate capacity to 2.00 million tonnes per year.
The same report placed the project net present value at AUD 2.70 billion and the internal rate of return at 29.50 percent. It also cited an updated Pilgangoora ore reserve of 249.20 million tonnes, 23.00 percent higher in tonnes than the previous reserve.
Annual figures frame the valuation
PLS reported fiscal 2026 revenue of AUD 1.93 billion, up 152.00 percent from fiscal 2025, while underlying EBITDA reached AUD 1.14 billion and net profit after tax was AUD 526.00 million, according to Australian Resources and Investment on October 19, 2026. The company also held AUD 2.29 billion in cash, including proceeds from a USD 600.00 million bond.
PLS has scheduled its September quarter activities report for October 28, 2026. MarketScreener lists the date as the next earnings release and identifies PLS as an Australian diversified mining company.
Comparison with peers
PLS Group: up 1.03 percent on the ASX on October 20, 2026, price-to-earnings ratio 18.30, market capitalization AUD 9.5 billion.
Mineral Resources (ASX, AUD): up 2.07 percent on October 20, 2026, price-to-earnings ratio 8.51, market capitalization AUD 8.9 billion.
Liontown Resources (ASX, AUD): up 1.46 percent on October 20, 2026, price-to-earnings ratio 33.10, market capitalization AUD 2.2 billion.
After-hours price and next date
The current euro quotation puts the company alongside a wide Australian lithium valuation spread, while the upcoming report will provide the next operating checkpoint. The stock was trading at EUR 1.85 at Lang & Schwarz on October 20, 2026 at 7:15 p.m. CEST.
The further course of trading is shown by the continuously updated real-time quote of PLS Group stock.
PLS Group stock at a glance
- Company: PLS Group Limited
- ISIN: AU000000PLS0
- Ticker: PLS
- Primary exchange: ASX
- Price Lang & Schwarz (as of October 20, 2026, 7:15 p.m. CEST): EUR 1.85
- Market capitalization: AUD 9.5 billion (as of October 20, 2026)
- 52-week range: AUD 2.74-6.81 (as of October 20, 2026)
- Sector / Industry: Basic Materials / Industrial Materials
- Index membership: ASX 50
- Next earnings date: October 28, 2026
Market context: Market report S&P ASX 200.
