Mineral Resources (MIN) miss expectations at result
FY21 Result: A huge full year result expected here from MIN with revenue up 80% to $3.8bn, EBITDA of $2.03b & NPAT of $1.2bn. They’re just out with numbers and it’s a slight miss at the revenue and EBITDA lines printing $3.7bn & $1.9bn respectively.
Looking ahead, growth is expected to moderate but still looking at 20% YoY growth at the profit line. If they do $1.4b in profit in FY22 as the market expects, that puts them on an FY22 P/E of just 9.5x and a yield of 5%.
This has been phenomenal year for MIN however we’d expect the stock to pull back on this result.
MM is neutral MIN
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