MINERAL RESOURCES LIMITED (MIN)
Share Price Analysis and Chart

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MIN

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

$20.73

05 May
2025

-0.170

OPEN

$21.19

-0.81%

HIGH

$21.25

1,425,246

LOW

$20.60

TARGET
$28.657 38.2% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ARI . BCI . CIA . DRR . FEX . FMG . GEN . GRR . MGX .
FNARENA'S MARKET CONSENSUS FORECASTS
MIN: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 64.0 - 85.7 xxx
DPS (cps) xxx 20.0 0.0 xxx
EPS Growth xxx - 49.8% N/A xxx
DPS Growth xxx - 89.5% N/A xxx
PE Ratio xxx N/A N/A xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx 31.3% N/A xxx

Dividend yield today if purchased 3 years ago: 0.35%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.96

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 xxxxxxxxxxxxxxx20.0
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

0.9

No. Of Recommendations

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

Ord Minnett

xx/xx/xxxx

1

xxx

$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

1

xxxxxxx xx xxx xxxx xxxx

$xx.xx

xx.xx%

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Macquarie

30/04/2025

1

Outperform

$35.00

68.84%

Mineral Resources’ quarterly update is seen as broadly positive, with iron ore and lithium volumes ahead of Macquarie's forecasts but pricing below expectations.

Iron ore shipments of 5.91 million tonnes were in line with the broker, and lithium spodumene shipments of 128,000 tonnes exceeded estimates by 27%, driven by strong performance at Mount Marion.

However, average realised lithium pricing missed forecasts by -6% due to product mix.

The mining services division was weaker, with volumes tracking to the low end of guidance and earnings under pressure from higher haulage costs.

The analyst notes net debt of $5.4 billion was in line, and the company reaffirmed it does not intend to raise equity. Capital expenditure and liquidity were within expected ranges.

Macquarie upgrades financial year 2025 earnings per share by 3%, with minimal changes to future years. Target price remains $35.00. Outperform rating maintained.

FORECAST
Macquarie forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -66.60 cents.
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of 160.00 cents.

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$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

Goldman Sachs

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Jarden

01/05/2025

5

Downgrade to Sell from Underweight

$15.50

-25.23%

Jarden downgrades Mineral Resources to Sell from Underweight, cutting the target price to $15.50 from $16.20.

The downgrade reflects escalating balance sheet risk, with net debt rising to $5.4bn at March-end and potential liabilities exceeding $7bn including payables and prepayments.

The analyst points to improved lithium cost performance, but Onslow guidance was reduced again, with shipment targets seen as unachievable without significant ramp-up.

Mining services volumes were weak and commentary suggests risks remain elevated across liquidity, debt serviceability, and governance.

Jarden lifts FY25 earnings (EBITDA) forecast by 11%, though earnings per share remain negative (loss-making) across FY25–27.

The stock's share price valuation assumes no equity dilution, but highlights risk of recapitalisation if funding markets become inaccessible.

The share price has rallied 43% and is now trading around 30% above valuation, which has prompted the downgrade.

FORECAST
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -133.10 cents.
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -66.20 cents.
Access Extra Coverage Research History >

MIN STOCK CHART

FNArena News on MIN

1
Australian Broker Call *Extra* Edition – May 05, 2025

May 05 2025 - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 02-05-25

May 05 2025 - Weekly Reports
3
Next Week At A Glance – 5-9 May 2025

May 02 2025 - Weekly Reports
4
In Case You Missed It – BC Extra Upgrades & Downgrades – 02-05-25

May 02 2025 - Weekly Reports
5
In Brief: Telstra Re-Rating, MinRes & MAC Copper

May 02 2025 - Weekly Reports

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