MINERAL RESOURCES LIMITED (MIN)
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MIN

MIN - MINERAL RESOURCES LIMITED

FNArena Sector : Iron Ore
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 6.72
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Mineral Resources is an Australian diversified mining services company. Its operations include construction, crushing and transport services. It has been a listed company since 2006. Key operations involve iron ore and lithium.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$48.75

18 Nov
2025

-1.260

OPEN

$50.18

-2.52%

HIGH

$51.25

1,872,546

LOW

$48.71

TARGET
$49.786 2.1% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ARI . CIA . DRR . FEX . FMG . GEN . GRR . MGX .
FNARENA'S MARKET CONSENSUS FORECASTS
MIN: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 458.9 148.2 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 32.8 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 01/03 - ex-div 20c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-458.9
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx4,472.0 M
Book Value Per Share xxxxxxxxxxxxxxx1,648.9
Net Operating Cash Flow xxxxxxxxxxxxxxx-475.0 M
Net Profit Margin xxxxxxxxxxxxxxx-20.21 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-26.70 %
Return on Invested Capital xxxxxxxxxxxxxxx-10.45 %
Return on Assets xxxxxxxxxxxxxxx-7.48 %
Return on Equity xxxxxxxxxxxxxxx-26.70 %
Return on Total Capital xxxxxxxxxxxxxxx1.08 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-2,505.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx317 M
Long Term Debt xxxxxxxxxxxxxxx5,445 M
Total Debt xxxxxxxxxxxxxxx5,762 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx443 M
Price To Book Value xxxxxxxxxxxxxxx1.31

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx2,156.0 M
Capex % of Sales xxxxxxxxxxxxxxx48.21 %
Cost of Goods Sold xxxxxxxxxxxxxxx3,065 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,308 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx153 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.1

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

13/11/2025

5

Underperform

$47.00

-3.59%

Macquarie notes Mineral Resources has announced its intention to divest a 30% stake of its Mt Marion and Wodgina stakes for US$765m or $1.2bn to Posco Holdings, which is around 40% better than consensus expectations.

The sell-down to a new JV will hold Mineral Resources' 50% stakes in Wodgina and Mt Marion, with Posco buying 30% in cash, giving it 15% in both assets, with completion due 1H2026. Posco will also secure spodumene offtake aligned with its JV share.

The analyst highlights the deal values Mineral Resources' lithium holdings at $3.9bn, whereas its forecast was $1.5bn at a long-term lithium price of US$1,100/t, and consensus sat at $2.7bn. Net receipts of around $1bn will be used to repay debt.

Underperform retained. Target price is raised 24% to $47, with Macquarie lifting its EPS forecast by 3% for FY26 and 5-15% for FY27-FY31.

FORECAST
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of 99.00 cents.
Macquarie forecasts a full year FY27 dividend of 0.00 cents and EPS of 137.80 cents.

UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

5

xxxx, xxxx xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

18/11/2025

5

Sell

$17.30

-64.51%

Mineral Resources will form a 70/30 joint venture with Posco, selling -15% of its Wodgina and Mt Marion interests for US$765m.

Jarden feels this is a strong short-term outcome, accelerating balance sheet repair and cutting gearing to around 50% by FY26.

The broker notes the deal implies an SC6 price of around US$1,600/t, well above forecast and consensus levels.

The analysts view the transaction as accretive for Mineral Resources' shareholders by around $335m, or $1.70/share.

Jarden raises its target price to $17.30 from $15.60. Sell rating retained.

FORECAST
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 91.40 cents.
Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -42.30 cents.
Access Extra Coverage Research History >

MIN STOCK CHART

FNArena News on MIN

1
Australian Broker Call *Extra* Edition – Nov 19, 2025

10:30 AM - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 14-11-25

Nov 17 2025 - Weekly Reports
3
In Brief: Black Cat, Sun Silver, Unico & MinRes

Nov 14 2025 - Weekly Reports
4
Next Week At A Glance – 10-14 Nov 2025

Nov 07 2025 - Weekly Reports
5
Australian Broker Call *Extra* Edition – Nov 06, 2025

Nov 06 2025 - Daily Market Reports

Latest Iron Ore News

1
Fortescue Shares Finding Technical Support

Nov 18 2025 - Technicals
2
Risk Has Shifted To More Upside For MinRes

Oct 16 2025 - Technicals
3
Mineral Resources Shares Targeting $45

Sep 10 2025 - Technicals
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Aug 06 2025 - Commodities
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Aug 01 2025 - Commodities
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Jul 28 2025 - Australia
7
Bargain Hunters Interest For Champion Iron?

May 08 2025 - Technicals
8
Positive Reversal For Fortescue

May 06 2025 - Technicals
9
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Feb 24 2025 - Commodities
10
Fortescue Looks Poised

Nov 05 2024 - Technicals