MIN followed the lithium names lower on Wednesday, finishing the day down 3.8%. In FY25, MIN only generated around 14% of its revenue from lithium, but it does have a larger influence on the share price as it’s seen as a major part of the company’s future. At MM, we regard MIN as an iron ore miner with a healthy mining services division, with major lithium exposure, which isn’t being adequately reflected in the stock’s valuation, one of the reasons MIN has run hard as lithium bounced.
- We wouldn’t be surprised to see MIN pullback towards $34 in the coming weeks following its stellar advance from around $14, before another leg higher could ensue.
MM is long and bullish towards MIN
Add To Hit List
