MINERAL RESOURCES LIMITED (MIN)
Share Price Analysis and Chart

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MIN - MINERAL RESOURCES LIMITED

FNArena Sector : Iron Ore
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 5.22
Index: ASX50 | 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

$37.05

17 Jan
2025

1.040

OPEN

$35.84

2.89%

HIGH

$37.14

1,700,991

LOW

$35.44

TARGET
$42.929 15.9% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ARI . BCI . CIA . DRR . FEX . FMG . GEN . GRR . MGX . RHK .
FNARENA'S MARKET CONSENSUS FORECASTS
MIN: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 64.0 - 56.6 xxx
DPS (cps) xxx 0.0 1.8 xxx
EPS Growth xxx - 49.8% N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A N/A 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 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx64.0
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx5,278.0 M
Book Value Per Share xxxxxxxxxxxxxxx1,823.2
Net Operating Cash Flow xxxxxxxxxxxxxxx1,449.0 M
Net Profit Margin xxxxxxxxxxxxxxx2.37 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx3.56 %
Return on Invested Capital xxxxxxxxxxxxxxx1.64 %
Return on Assets xxxxxxxxxxxxxxx1.21 %
Return on Equity xxxxxxxxxxxxxxx3.56 %
Return on Total Capital xxxxxxxxxxxxxxx5.04 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-2,613.0 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx255 M
Long Term Debt xxxxxxxxxxxxxxx5,081 M
Total Debt xxxxxxxxxxxxxxx5,336 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx908 M
Price To Book Value xxxxxxxxxxxxxxx2.96

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx4,135.0 M
Capex % of Sales xxxxxxxxxxxxxxx78.34 %
Cost of Goods Sold xxxxxxxxxxxxxxx3,308 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,575 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx249 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

0.2

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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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Macquarie

14/01/2025

3

Neutral

$37.00

-0.13%

Mineral Resources is due to report 2Q25 production results on January 29.

Macquarie anticipates the company's results will be in line for iron ore, with a decline of -2% as Onslow ramps up at 7.1mt. Lithium is also expected to meet expectations at 147kt.

The analyst lowers EPS forecast for FY25 by -75% due to higher lithium and iron ore costs. The FY26 EPS forecast declines by less than -1%.

Changes to working capital assumptions and cash balances result in a lower target price of $37, down -3%.

Neutral rating unchanged.

FORECAST
Macquarie forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -50.00 cents.
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of 268.00 cents.

Citi

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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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Goldman Sachs

06/11/2024

3

Neutral

$41.00

10.66%

Mineral Resource' Sep Q results were weak year on year but in line with Goldman Sachs.

With net debt still increasing due to weak operating cash flows and ongoing capex associated with the Ashburton iron ore ramp-up, the company is reducing spend in lithium and has announced the sale of its WA gas assets to Hancock Prospecting.

The broker has not included the sale in its base case as the deal has not closed, but notes that if the sale were to complete, it would reduce forecast end-FY25 net debt to $4.5bn from $5.2bn and reduce leverage modestly to 5x by the end of FY26.

One positive from the result was that iron ore production and shipments from the Onslow/Ashburton project were slightly ahead of Goldman Sachs' forecast. Neutral retained, target falls -9% to $41.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -116.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 66.00 cents and EPS of 133.00 cents.
Access Extra Coverage Research History >

MIN STOCK CHART

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2
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