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: 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

$23.19

05 Jun
2025

2.990

OPEN

$20.13

14.80%

HIGH

$23.29

4,806,056

LOW

$20.01

TARGET
$28.886 24.6% 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 - 89.3 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: 0.34%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.84

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

0.7

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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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxx

$xx.xx

xx.xx%

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Morgan Stanley

29/05/2025

1

Overweight

$35.00

50.93%

After a trip to Mineral Resources' Onslow Iron project, Morgan Stanley analysts reckon there's a real potential to operate 10% above nameplate capacity by August 2026 once transshipper 6 arrives. This could lead to FY27 upgrades.

The broker noted the current speed limit on the haul road is set to be removed by the end of September, paving the way to meet or even exceed the 35Mtpa target. Even at the current speed limit of 65km/hour, the company demonstrated upside potential for traffic.

Finally, the broker notes the repair work is on track to achieve the September completion target.

Overweight. Target unchanged at $35.

FORECAST
Morgan Stanley forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -119.00 cents.
Morgan Stanley forecasts a full year FY26 dividend of 0.00 cents and EPS of 230.00 cents.

Morgans

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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Macquarie

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

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

02/06/2025

5

Sell

$16.20

-30.14%

Jarden's site visit to Onslow was viewed positively, with the broker upbeat on how "robust" the resurfaced road appears with the engineering capability showcased.

The broker estimates Onslow capacity to reach around 37.5mtpa post-visit, with management targeting sustainable operating costs of $49/wmt from $40/wmt initially.

Jarden raises FY26 iron ore by 6% to US$90/dmt from US$85/dmt, while lowering lithium prices in FY25–FY27. The analyst is also positive on the recent appointment of Mal Bundey as Chair and Chair of the Ethics and Governance Committee.

Target price lifts to $16.20 from $15.50. No change to Sell rating.

FORECAST
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -151.10 cents.
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -47.50 cents.
Access Extra Coverage Research History >

MIN STOCK CHART

FNArena News on MIN

1
Australian Broker Call *Extra* Edition – Jun 02, 2025

Jun 02 2025 - Daily Market Reports
2
Next Week At A Glance – 2-6 June 2025

May 30 2025 - Weekly Reports
3
Australian Broker Call *Extra* Edition – May 05, 2025

May 05 2025 - Daily Market Reports
4
Weekly Ratings, Targets, Forecast Changes – 02-05-25

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

May 02 2025 - Weekly Reports

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