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

$25.83

20 Feb
2025

1.650

OPEN

$23.51

6.82%

HIGH

$25.92

6,313,879

LOW

$23.35

TARGET
$36.643 41.9% 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 - 81.3 xxx
DPS (cps) xxx 0.0 0.0 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

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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Citi

xx/xx/xxxx

3

xxxxxxx/xxxx xxxx

$xx.xx

xx.xx%

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Morgans

19/02/2025

3

Hold

$26.00

0.66%

Morgans' described Mineral Resources overall 1H25 result and subsequent 2H25 outlook as negative, with the only bright spot being mining services. The mining services beat was driven by strong margins of $2.6/t in 1H vs $2.1/t in FY24, which the company expects to continue in the near term but quoted a conservative $2.2/t.

Net debt sits at $5.1bn and despite the company expecting it to peak in1H25, the broker doesn't expect a material step down until the end of the decade. 

The broker highlights leadership process will remain key over the next 12 months, with the company expected to  announce new Chairman 4Q-end who will then lead the search for a replacement for MD.

Target price drops to $26 from $35, but rating remains at Hold following share price fall.

FORECAST
Morgans forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -114.00 cents.
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of 152.00 cents.

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

5

xxxx

$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

3

xxxxxxx

$xx.xx

xx.xx%

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Jarden

17/02/2025

5

Sell

$20.00

-22.57%

Mineral Resources' joint venture partner at Wodgina, Albemarle Corp, released an independent technical report evaluating the asset, valuing it as $2.6bn, using a long-term SC6 price of US$1,300/t and AUD/USD of $0.68.

The valuation is -30% lower than Jarden's prior value of $3.9bn derived using US$1,200/t SC6 price and an exchange rate of $0.70.

The broker has revalued Wodgina taking some inputs from the report, including new unit cost estimates and higher mining and processing costs.

The valuation falls by around -32% to $2.66bn, with Mineral Resources 50% share at $1.33bn. Target price drops to $20.00 from $22.80. Sell retained.

FORECAST
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -139.80 cents.
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -21.00 cents.
Access Extra Coverage Research History >

MIN STOCK CHART

FNArena News on MIN

1
FNArena Corporate Results Monitor – 22-02-2025

2:00 PM - Australia
2
Next Week At A Glance – 24-28 Feb 2025

Feb 21 2025 - Weekly Reports
3
Rudi’s View: Best Ideas & Conviction Calls

Feb 20 2025 - Rudi's View
4
FNArena Corporate Results Monitor – 20-02-2025

Feb 20 2025 - Australia
5
Australian Broker Call *Extra* Edition – Feb 17, 2025

Feb 17 2025 - Daily Market Reports

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