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: 2.3
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

$43.93

27 Oct
2026

0.900

OPEN

$43.00

2.09%

HIGH

$44.43

1,263,464

LOW

$42.60

TARGET
$66.60 51.6% 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 FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 537.3 285.4 xxx
DPS (cps) xxx 83.0 77.8 xxx
EPS Growth xxx N/A - 46.9% xxx
DPS Growth xxx N/A - 6.3% xxx
PE Ratio xxx N/A 15.9 xxx
Dividend Yield xxx N/A 1.7% xxx
Div Pay Ratio(%) xxx 15.4% 27.3% xxx

Dividend yield today if purchased 3 years ago: 1.37%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.83

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: 08/09 - ex-div 83.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx537.3
DPS All xxxxxxxxxxxxxxx83.0
Sales/Revenue xxxxxxxxxxxxxxx6,461.0 M
Book Value Per Share xxxxxxxxxxxxxxx2,207.0
Net Operating Cash Flow xxxxxxxxxxxxxxx2,086.0 M
Net Profit Margin xxxxxxxxxxxxxxx16.42 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx28.04 %
Return on Invested Capital xxxxxxxxxxxxxxx11.46 %
Return on Assets xxxxxxxxxxxxxxx8.55 %
Return on Equity xxxxxxxxxxxxxxx28.04 %
Return on Total Capital xxxxxxxxxxxxxxx16.06 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx902.0 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx332 M
Long Term Debt xxxxxxxxxxxxxxx5,497 M
Total Debt xxxxxxxxxxxxxxx5,829 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,595 M
Price To Book Value xxxxxxxxxxxxxxx2.81

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx1,222.0 M
Capex % of Sales xxxxxxxxxxxxxxx18.91 %
Cost of Goods Sold xxxxxxxxxxxxxxx3,285 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,565 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx299 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

1.0

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

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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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

26/10/2026

-1

No Rating

-

Morgan Stanley notes Mineral Resources' 1Q27 production exceeded expectations across most operations, with Onslow iron ore output of 10.26Mt beating consensus by 14%, while shipments of 9.22Mt were 1.8% ahead and costs -5.5% below expectations.

Pilbara iron ore production beat consensus by 27%, with shipments 11% higher and costs -2.6% lower.

Lithium results were mixed, with Wodgina production 4% above consensus, Mt Marion missing by -11.3% due to lower recoveries, and Bald Hill exceeding expectations by 60.7%, although lithium pricing was generally weaker than forecast.

FY27 guidance remains unchanged across all divisions, with higher diesel prices presenting a 2Q27 cost headwind, while net debt declined $0.2bn q/q to $4.1bn.

The broker is under research restriction for Mineral Resources. No rating or target price. Industry View: Attractive.

FORECAST
Morgan Stanley forecasts a full year FY27 dividend of 86.00 cents and EPS of 342.00 cents.
Morgan Stanley forecasts a full year FY28 dividend of 211.00 cents and EPS of 422.00 cents.

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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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

01/09/2026

5

Sell

$29.20

-33.53%

Jarden maintains a Sell rating for Mineral Resources with its target price decreased to $29.20 from $29.50 following an FY26 result the analyst described as messy, despite underlying EBITDA aligning with expectations and NPAT beating consensus by 8%.

The broker highlights the resumption of dividends at 83c per share as a surprise given the company's $4.3bn net debt balance.

A key area of concern is the deterioration in Mining Services margins to below $2 per tonne.

While management's FY27 guidance largely captured the broker's forecasts, estimates remain above guidance for Mining Services and Wodgina volumes.

The target price reduction incorporates capital expenditure guidance running approximately $200m higher than forecast, although EBITDA estimates for FY27 and FY28 were upgraded by 6%-8%.

The stock's valuation is viewed as elevated, trading at a 123% premium to the analyst's net present value model, which continues to embed optimistic assumptions.
Access Extra Coverage Research History >

MIN STOCK CHART

FNArena News on MIN

1
Rudi’s View: Quality At Home, Value Abroad

Oct 22 2026 - Rudi's View
2
Weekly Ratings, Targets, Forecast Changes – 16-10-26

Oct 19 2026 - Weekly Reports
3
Rudi’s View: Stocks To Own & Best To Avoid

Oct 15 2026 - Rudi's View
4
Selling Pressure Dominates MinRes Shares

Oct 14 2026 - Technicals
5
Mineral Resources’ Ambition Raises Concerns

Sep 07 2026 - Australia

Latest Iron Ore News

1
Champion Iron’s Premium Promise

Oct 21 2026 - Commodities
2
Selling Pressure Dominates MinRes Shares

Oct 14 2026 - Technicals
3
Rising Costs Hit Fortescue Hard

Aug 05 2026 - Commodities
4
Breakout Opportunity In Mineral Resources

Apr 14 2026 - Technicals
5
Fortescue Shares Finding Technical Support

Nov 18 2025 - Technicals
6
Risk Has Shifted To More Upside For MinRes

Oct 16 2025 - Technicals
7
Mineral Resources Shares Targeting $45

Sep 10 2025 - Technicals
8
Can Champion Iron Deliver On Growth Projects?

Aug 06 2025 - Commodities
9
Execution Remains Key For Mineral Resources

Aug 01 2025 - Commodities
10
Iron Ore Worries Overshadow Fortescue’s FY26

Jul 28 2025 - Australia