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MIN

Mineral Resources ASX:MIN Stock Report

Last Price

AU$65.75

Market Cap

AU$12.4b

7D

-2.8%

1Y

57.5%

Updated

01 Oct, 2022

Data

Company Financials +
MIN fundamental analysis
Snowflake Score
Valuation3/6
Future Growth4/6
Past Performance1/6
Financial Health3/6
Dividends0/6

MIN Stock Overview

Mineral Resources Limited, together with subsidiaries, operates as a mining services company in Australia, China, Singapore, and internationally.

Mineral Resources Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Mineral Resources
Historical stock prices
Current Share PriceAU$65.75
52 Week HighAU$75.65
52 Week LowAU$36.95
Beta1.29
1 Month Change4.71%
3 Month Change42.07%
1 Year Change57.52%
3 Year Change398.11%
5 Year Change270.01%
Change since IPO5,667.54%

Recent News & Updates

Sep 19
We Think Mineral Resources (ASX:MIN) Is Taking Some Risk With Its Debt

We Think Mineral Resources (ASX:MIN) Is Taking Some Risk With Its Debt

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

Shareholder Returns

MINAU Metals and MiningAU Market
7D-2.8%-1.2%-1.7%
1Y57.5%4.0%-10.8%

Return vs Industry: MIN exceeded the Australian Metals and Mining industry which returned 4% over the past year.

Return vs Market: MIN exceeded the Australian Market which returned -10.8% over the past year.

Price Volatility

Is MIN's price volatile compared to industry and market?
MIN volatility
MIN Average Weekly Movement8.7%
Metals and Mining Industry Average Movement11.3%
Market Average Movement9.4%
10% most volatile stocks in AU Market16.5%
10% least volatile stocks in AU Market4.2%

Stable Share Price: MIN is not significantly more volatile than the rest of Australian stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: MIN's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19933,863n/ahttps://www.mineralresources.com.au

Mineral Resources Limited, together with subsidiaries, operates as a mining services company in Australia, China, Singapore, and internationally. It operates through five segments: Mining Services and Processing, Iron Ore, Lithium, Other Commodities, and Central. The company offers contract crushing, screening, and processing; specialized mine services, including materials handling, plant and equipment hire and maintenance, tails recovery, and aggregate crushing; and design, engineering, and construction services for resources sector.

Mineral Resources Fundamentals Summary

How do Mineral Resources's earnings and revenue compare to its market cap?
MIN fundamental statistics
Market CapAU$12.39b
Earnings (TTM)AU$349.20m
Revenue (TTM)AU$3.42b

35.5x

P/E Ratio

3.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MIN income statement (TTM)
RevenueAU$3.42b
Cost of RevenueAU$318.80m
Gross ProfitAU$3.10b
Other ExpensesAU$2.75b
EarningsAU$349.20m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.85
Gross Margin90.67%
Net Profit Margin10.22%
Debt/Equity Ratio86.1%

How did MIN perform over the long term?

See historical performance and comparison

Dividends

1.5%

Current Dividend Yield

54%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is MIN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MIN?

Other financial metrics that can be useful for relative valuation.

MIN key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue3.8x
Enterprise Value/EBITDA14.3x
PEG Ratio2x

Price to Earnings Ratio vs Peers

How does MIN's PE Ratio compare to its peers?

MIN PE Ratio vs Peers
The above table shows the PE ratio for MIN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average16.7x
LYC Lynas Rare Earths
12.7x13.7%AU$6.8b
IGO IGO
31.3x4.2%AU$10.4b
S32 South32
4x-17.7%AU$16.7b
AKE Allkem
18.6x20.6%AU$8.8b
MIN Mineral Resources
35.5x18.1%AU$12.4b

Price-To-Earnings vs Peers: MIN is expensive based on its Price-To-Earnings Ratio (35.5x) compared to the peer average (16.7x).


Price to Earnings Ratio vs Industry

How does MIN's PE Ratio compare vs other companies in the AU Metals and Mining Industry?

Price-To-Earnings vs Industry: MIN is expensive based on its Price-To-Earnings Ratio (35.5x) compared to the Australian Metals and Mining industry average (8.4x)


Price to Earnings Ratio vs Fair Ratio

What is MIN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MIN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio35.5x
Fair PE Ratio24.8x

Price-To-Earnings vs Fair Ratio: MIN is expensive based on its Price-To-Earnings Ratio (35.5x) compared to the estimated Fair Price-To-Earnings Ratio (24.8x).


Share Price vs Fair Value

What is the Fair Price of MIN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MIN (A$65.75) is trading below our estimate of fair value (A$159.34)

Significantly Below Fair Value: MIN is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is Mineral Resources forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


18.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MIN's forecast earnings growth (18.1% per year) is above the savings rate (1.8%).

Earnings vs Market: MIN's earnings (19.6% per year) are forecast to grow faster than the Australian market (6.1% per year).

High Growth Earnings: MIN's earnings are forecast to grow, but not significantly.

Revenue vs Market: MIN's revenue (11.8% per year) is forecast to grow faster than the Australian market (5.7% per year).

High Growth Revenue: MIN's revenue (11.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MIN's Return on Equity is forecast to be high in 3 years time (29.9%)


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Past Performance

How has Mineral Resources performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


28.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MIN has a high level of non-cash earnings.

Growing Profit Margin: MIN's current net profit margins (21.6%) are lower than last year (23.9%).


Past Earnings Growth Analysis

Earnings Trend: MIN's earnings have grown significantly by 41% per year over the past 5 years.

Accelerating Growth: MIN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MIN had negative earnings growth (-72.5%) over the past year, making it difficult to compare to the Metals and Mining industry average (22.7%).


Return on Equity

High ROE: MIN's Return on Equity (10.7%) is considered low.


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Financial Health

How is Mineral Resources's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: MIN's short term assets (A$3.4B) exceed its short term liabilities (A$913.6M).

Long Term Liabilities: MIN's short term assets (A$3.4B) do not cover its long term liabilities (A$3.6B).


Debt to Equity History and Analysis

Debt Level: MIN's net debt to equity ratio (7.8%) is considered satisfactory.

Reducing Debt: MIN's debt to equity ratio has increased from 17.6% to 33.5% over the past 5 years.

Debt Coverage: MIN's debt is not well covered by operating cash flow (9.9%).

Interest Coverage: MIN's interest payments on its debt are well covered by EBIT (11.2x coverage).


Balance Sheet


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Dividend

What is Mineral Resources's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


1.52%

Current Dividend Yield

Dividend Yield vs Market

Mineral Resources Dividend Yield vs Market
How does Mineral Resources dividend yield compare to the market?
SegmentDividend Yield
Company (Mineral Resources)1.5%
Market Bottom 25% (AU)2.8%
Market Top 25% (AU)7.2%
Industry Average (Metals and Mining)10.3%
Analyst forecast in 3 Years (Mineral Resources)6.7%

Notable Dividend: MIN's dividend (1.52%) isn’t notable compared to the bottom 25% of dividend payers in the Australian market (2.8%).

High Dividend: MIN's dividend (1.52%) is low compared to the top 25% of dividend payers in the Australian market (7.16%).


Stability and Growth of Payments

Stable Dividend: MIN is not paying a notable dividend for the Australian market, therefore no need to check if payments are stable.

Growing Dividend: MIN is not paying a notable dividend for the Australian market, therefore no need to check if payments are increasing.


Earnings Payout to Shareholders

Earnings Coverage: MIN is not paying a notable dividend for the Australian market.


Cash Payout to Shareholders

Cash Flow Coverage: MIN is paying a dividend but the company has no free cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

2.7yrs

Average management tenure


CEO

Mineral Resources has no CEO, or we have no data on them.


Leadership Team

Experienced Management: MIN's management team is considered experienced (3.2 years average tenure).


Board Members

Experienced Board: MIN's board of directors are considered experienced (6.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

ASX:MIN Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
12 Sep 22BuyAU$900,960State Street Global Advisors, Inc.Company14,769AU$73.38
31 Aug 22BuyAU$26,484State Street Global Advisors, Inc.Company129,412AU$64.36
25 Jul 22BuyAU$1,133,708State Street Global Advisors, Inc.Company24,259AU$47.38
25 Jul 22SellAU$102,980State Street Global Advisors, Inc.Company2,163AU$47.61
20 Jul 22BuyAU$391,366State Street Global Advisors, Inc.Company11,749AU$46.49
07 Jul 22BuyAU$547,150State Street Global Advisors, Inc.Company14,265AU$44.83
07 Jul 22SellAU$77,601State Street Global Advisors, Inc.Company1,731AU$44.83
05 Jul 22BuyAU$127,329,739State Street Global Advisors, Inc.Company1,992,986AU$63.89
28 Feb 22BuyAU$15,326,866BlackRock, Inc.Company6,201,536AU$65.00
10 Jan 22SellAU$41,479,608Magellan Asset Management LimitedCompany749,725AU$55.33
14 Dec 21BuyAU$29,360,162Magellan Asset Management LimitedCompany661,492AU$44.38
10 Nov 21BuyAU$68,610,572Magellan Asset Management LimitedCompany1,529,652AU$44.85
08 Oct 21SellAU$115,085,843Fidelity International LtdCompany2,230,536AU$51.60

Ownership Breakdown

What is the ownership structure of MIN?
Owner TypeNumber of SharesOwnership Percentage
Private Companies2,672,7041.4%
Individual Insiders23,591,36212.5%
Institutions72,079,03238.2%
General Public90,142,87847.8%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 47.96% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
11.82%
Christopher Ellison
22,285,311A$1.5b-1.05%no data
5.42%
BlackRock, Inc.
10,223,360A$672.2m-0.02%0.01%
5.21%
State Street Global Advisors, Inc.
9,814,553A$645.3m917.61%0.02%
5%
Fidelity International Ltd
9,417,572A$619.2m0%0.21%
4.99%
Magellan Asset Management Limited
9,413,550A$618.9m0%1.28%
4.72%
The Vanguard Group, Inc.
8,887,863A$584.4m2.18%0.01%
2.55%
Norges Bank Investment Management
4,804,576A$315.9m0%0.03%
1.65%
Mirae Asset Global Investments Co., Ltd
3,116,128A$204.9m3.09%0.19%
0.75%
Dimensional Fund Advisors LP
1,412,936A$92.9m0.81%0.01%
0.73%
D&C Geraghty Pty. Ltd.
1,372,175A$90.2m0%no data
0.63%
GO ETF Solutions LLP
1,183,416A$77.8m0%0.7%
0.51%
Netwealth Investments Ltd.
970,670A$63.8m0%0.84%
0.47%
Geode Capital Management, LLC
884,531A$58.2m3%no data
0.43%
Thornburg Investment Management, Inc.
810,255A$53.3m0%0.24%
0.41%
CPU Share Plans Pty Limited
775,529A$51.0m0%no data
0.4%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
750,686A$49.4m1.29%0.01%
0.34%
Grantham Mayo Van Otterloo & Co. LLC
649,039A$42.7m-12.93%0.1%
0.3%
Van Eck Associates Corporation
560,148A$36.8m-14.88%0.05%
0.28%
New York Life Investment Management LLC
528,304A$34.7m0.15%0.15%
0.26%
Amundi Asset Management
488,364A$32.1m6977.74%0.01%
0.23%
Charles Schwab Investment Management, Inc.
433,856A$28.5m2.66%no data
0.22%
Robert Whyte
415,000A$27.3m0%no data
0.22%
UBS Asset Management
406,919A$26.8m-13.29%no data
0.21%
J.P. Morgan Asset Management, Inc.
396,936A$26.1m-2.27%no data
0.21%
Bessemer Investment Management LLC
396,698A$26.1m-19.11%0.04%

Company Information

Mineral Resources Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Mineral Resources Limited
  • Ticker: MIN
  • Exchange: ASX
  • Founded: 1993
  • Industry: Diversified Metals and Mining
  • Sector: Materials
  • Implied Market Cap: AU$12.393b
  • Shares outstanding: 188.49m
  • Website: https://www.mineralresources.com.au

Number of Employees


Location

  • Mineral Resources Limited
  • 20 Walters Drive
  • Osborne Park
  • Western Australia
  • 6017
  • Australia


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MINASX (Australian Securities Exchange)YesOrdinary SharesAUAUDJul 2006
MALR.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJul 2006
F5JDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 2006
MINCHIA (Chi-X Australia)YesOrdinary SharesAUAUDJul 2006
MALR.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDJan 2012

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/01 00:00
End of Day Share Price2022/09/30 00:00
Earnings2022/06/30
Annual Earnings2022/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.