MIN has certainly been out of favour since late January falling over 28% will many other mining names pushed higher. This is historically a tricky stock to value due to its revenue mix i.e. 35% mining services and 65% iron ore / lithium but mainly the bulk commodity for now as the lithium side of the business grows steadily. The stock caught our eye yesterday as it rallied with the lithium sector, as opposed to falling with the weak iron ore stocks and we feel the stocks now looking attractive especially as an “accumulate” i.e. buy say half here leaving some $$ to average if it falls under $45 – remember the lithium sector can be extremely volatile with the elastic band stretching further in both directions than many anticipate.
MM likes MIN below $50
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