MIN, MP1
Is MIN a good buy under $50 ? And what is your view on MP1 ? Thank you.
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Answer
Hi Pino,
Mineral Resources (MIN): A very topical stock over the last fortnight for both its iron ore and lithium exposure:
- Following concerted stimulus initiatives out of Beijing iron ore stocks soared into Tuesdays disappointing/muted announcements by China’s National Development and Reform Commission – we like iron stocks into this week’s pullback, including MIN around current levels.
- After RIO’s bid for Arcadium (LTM) life has re-entered parts of the lithium space, and although it isn’t our preferred commodity at this stage of the cycle we do believe the sector’s now worth consideration.
Megaport (MP1): Guidance in its August FY24 report was disappointing and the stocks now halved from its May high. Its a “punt” at this stage to us until a clear turnaround path evolves with the stocks still priced for high levels of growth.
