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! We like and hold MIN in the Flagship Growth Portfolio backing them to successfully use revenues generated in Iron Ore and mining services to execute on their Lithium ambitions, and while short term challenges will come up, if they get this right, and we expect they will, MIN it worth well north of the ~$70 it’s trading at today.
MM is long & bullish MIN
Add To Hit List
