24/10/2023 09:00

Pilbara Minerals (PLS) v Mineral Resources (MIN)

After weeks of deliberation, we added to our Mineral Resources (MIN) position yesterday, catching the proverbial falling knife with the stock down over -40% from its 2023 high. We have been planning/flagging this move since the lithium sector started falling, but as we’ve said repeatedly, “it just didn’t feel right.”- I can imagine a few readers thinking how did yesterday feel right, with Pilbara Minerals (PLS) -7.3%, but it was the panic which saw us make the move.

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23/10/2023 08:52

Trade Alert – Flagship Growth Portfolio

We are increasing our position in Mineral Resources (MIN) in recent weakness. Adding 1% to bring the target weight to 5% in the portfolio.

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20/10/2023 09:22

Mineral Resources Ltd (MIN) $61.04

MIN fared better than some stocks with exposure to lithium, only closing down ~4%, probably aided by its ~45% exposure to iron ore. MIN remains our most likely candidate to increase our exposure towards lithium, especially while iron ore holds around the $US120 area.

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04/10/2023 09:32

Mineral Resources Ltd (MIN) $64.15

We felt MIN reported well in August, but after popping ~18% higher, the stock has been weighed down by a deteriorating broad market, including further weakness across the lithium sector, which has overshadowed relative strength across the iron ore stocks, i.e. MIN’s revenue in FY23 comprised of the eclectic mix of 44.9% iron ore, 39.6% lithium and 15.3% mining services.

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22/09/2023 09:11

Mineral Resources (MIN) $67.05

MIN provides investors with an unusual revenue stream from lithium 40% and iron ore 45% plus a smaller ~15% portion from mining services. The current decline in the lithium price is weighing across the sector from Pilbara (PLS) to IGO Ltd (IGO). While we believe the stocks are closer to their destination than their departure point, we believe it is too early to step up and start buying.

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14/09/2023 09:17

Mineral Resources Ltd (MIN) $68.78

Iron ore and lithium miner MIN only slipped -0.7% yesterday, outperforming other names in its core sectors. The company reported well in August beating on the profit line by ~6%, plus the 7c fully franked dividend was higher than most analysts had forecast.

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08/09/2023 09:15

Mineral Resources (MIN) $71.77

As discussed earlier MIN has already been throwing its weight around in the sector but until Chris Ellison decides to hang up his proverbial business boots in our opinion this iron ore/lithium miner looks more likely to be an acquirer than a seller but as the late Kerry Packer showed us everything is on offer at the correct price.

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29/08/2023 16:39

Mineral Resources (MIN) $69.48

MIN +7.97%: We covered Mineral Resources (MIN) this morning (here) with the result a beat at the profit line by ~6%, however the quality seemed to be low and the higher than expected dividend was a strange one given the uplift in capex guidance for the year ahead. Most brokers saw it as a mixed result at best and by in large, the notes reflected that, but the share price didn’t - the Chris Ellison effect!

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29/08/2023 09:27

Mineral Resources Ltd (MIN) $64.35

MIN reported after market yesterday and its solid with underlying revenue of $4.78bn marginally ahead of consensus while net profit after tax (NPAT) of $769m was a big beat relative to market expectations of $689m, while the company will pay a 70c fully franked final dividend next month, taking the FY payout to $1.90, again ahead of expectations.

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15/08/2023 09:05

Minerals Resources Ltd (MIN) $66.24

MIN has corrected over 30% from its January high courtesy of lower Lithium chemical sales, delays with expansion projects, weaker realised pricing and softer mining services volumes and now iron ore is struggling around $US100/mt as Chinas economy threatens to embrace deflation as opposed to growth.

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