Buy, hold, sell: Magellan, Iluka Resources, PLS Group shares

Let's check out some new ratings on ASX shares today.

S&P/ASX 200 Index (ASX: XJO) shares are down 0.6% to 8,701 points on Tuesday.

Among the 11 market sectors, technology is in the lead today, up 2.3%, while materials is the laggard, down 2.1%.

Let's check out some new expert ratings for this week (courtesy The Bull).  

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Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price is $8.59, up 0.5% today and down 20% over the past month.

James Bills from Shaw and Partners has a buy rating on this ASX 200 financial share. 

Bills said: 

Magellan offers investors exposure to a respected global funds management business that appears attractively valued following several challenging years. The company continues to generate strong cash flow and maintain a robust balance sheet.

The business also offers an appealing dividend yield – recently above 7 per cent – supported by surplus capital.

Improving sentiment and stabilising operating conditions provide potential for a re-rating, making Magellan an attractive opportunity for income and capital growth investors.

Iluka Resources Ltd (ASX: ILU)

The Iluka Resources share price is $6.03, down 0.8% on Tuesday and down 16% over the past month.

Joshua Baker from RaaS Group has a hold rating on this ASX 200 mining share. 

Baker said: 

This mineral sands producer is diversifying into rare earths via its Eneabba refinery, which is 60 per cent complete. The company recently reported the refinery is progressing on schedule and on budget. An inaugural off-take agreement has been executed.

Mineral sands revenue of $433 million in the first half of 2026 was down 22 per cent on the prior corresponding period.

If the Eneabba project continues without any major cost blowouts or delays amid mineral sands prices continuing to recover, ILU may be a buy next year.

PLS Group Ltd (ASX: PLS)

The PLS Group share price is $4.37, down 0.9% today and down 14% over the past month.

Toby Grimm from Baker Young has a sell rating on this ASX 200 lithium share. 

Grimm said: 

This lithium producer generated group revenue of $1.934 billion in full year 2026, up 152 per cent on the prior corresponding period. It was driven by a 121 per cent increase in the average realised price and record sales volumes.

However, in our view, considerable optimism is already priced into the stock. Further details, including the benefits and risks, of potentially expanding the Pilgangoora operations are expected to be released in the December quarter.

After a strong share price run in the past year, we would consider cashing in some gains at these levels.

Motley Fool contributor Bronwyn Allen has positions in Magellan Financial Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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