MIN is a volatile stock and investors shouldn’t be surprised by the iron ore/lithium miners more than 20% correction, it’s actually the 5th time since just mid-2021. We believe this is an excellent company which on an Est valuation of 11.2x for 2023 represents good value with both of its respective commodities enduring a short term downward cycle.
- We hold 4% of our Flagship Growth Portfolio in MIN, we will consider tweaking this up to 5% if we see the stock drop another ~6%.
MM will consider adding to our MIN position in the $75 region.
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