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: 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

$29.86

01 Aug
2025

1.270

OPEN

$28.72

4.44%

HIGH

$30.12

3,086,868

LOW

$28.50

TARGET
$31.00 3.8% 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 FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 64.0 - 107.7 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: 0.36%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.66

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

0.3

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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Macquarie

xx/xx/xxxx

5

xxxxxxxxx xx xxxxxxxxxxxx xxxx xxxxxxx

$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

31/07/2025

3

Upgrade to Hold from Trim

$31.00

3.82%

Morgans upgrades Mineral Resources to Hold from Trim, with a rise in the target price to $31 from $30 previously, as the company's FY25 guidance met expectations across all segments, the analyst highlights.

Importantly, Onslow is on track to reach nameplate capacity in 1Q26, and net debt is anticipated to be around $5.35bn at the end of FY25.

Iron ore unit costs for FY25 were at the lower end of guidance for both Onslow and the Pilbara Hub, with lithium costs at the midpoint of guidance. Repairs on the Onslow haul road are on track for completion over 1Q26.

Morgans is positive that Mineral Resources can continue to degear the balance sheet and that the new board appointments can address governance issues.

FORECAST
Morgans forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -136.00 cents.
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of 19.00 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$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

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

04/08/2025

5

Sell

$14.60

-51.11%

Mineral Resources' June quarterly showed a decline in liquidity and cash balance, prompting Jarden to assess the balance sheet as stressed. Shipments largely met the broker's forecasts but realised prices were weak.

FY25 accounts are expected to be messy mainly due to several asset impairments. FY25 guidance for Onslow shipment was marginally higher than the broker's forecast but group capex of -$1.15bn was $200m higher.

Sell retained, though the broker believes an optimistic narrative can be built around the strengthened boardroom, governance and disclosure, and the peaking in net debt/EBITDA ratio.

Target cut to $14.60 from $16.20 mainly on higher capex and increased capitalisation of what may previously have been operating costs.

FORECAST
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -146.30 cents.
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -4.90 cents.
Access Extra Coverage Research History >

MIN STOCK CHART

FNArena News on MIN

1
Australian Broker Call *Extra* Edition – Aug 04, 2025

11:30 AM - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 01-08-25

10:00 AM - Weekly Reports
3
Execution Remains Key For Mineral Resources

Aug 01 2025 - Commodities
4
Material Matters: Commodities And Tariffs, Chinese Steel, Critical Minerals

Jul 08 2025 - Commodities
5
Next Week At A Glance -7-11 Jul 2025

Jul 04 2025 - Weekly Reports

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