MINERAL RESOURCES LIMITED (MIN)
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MIN

MIN - MINERAL RESOURCES LIMITED

FNArena Sector : Iron Ore
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 2.3
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Mineral Resources is an Australian diversified mining services company. Its operations include construction, crushing and transport services. It has been a listed company since 2006. Key operations involve iron ore and lithium.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$54.11

22 Sep
2026

0.790

OPEN

$53.97

1.48%

HIGH

$54.73

905,842

LOW

$53.86

TARGET
$75.80 40.1% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ARI . CIA . DRR . FEX . FMG . GEN . GRR . MGX .
FNARENA'S MARKET CONSENSUS FORECASTS
MIN: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 537.3 473.2 xxx
DPS (cps) xxx 83.0 116.7 xxx
EPS Growth xxx N/A - 11.9% xxx
DPS Growth xxx N/A 40.6% xxx
PE Ratio xxx N/A 11.6 xxx
Dividend Yield xxx N/A 2.1% xxx
Div Pay Ratio(%) xxx 15.4% 24.7% xxx

Dividend yield today if purchased 3 years ago: 1.19%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.52

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 08/09 - ex-div 83.00c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx537.3
DPS All xxxxxxxxxxxxxxx83.0
Sales/Revenue xxxxxxxxxxxxxxx6,461.0 M
Book Value Per Share xxxxxxxxxxxxxxx2,207.0
Net Operating Cash Flow xxxxxxxxxxxxxxx2,086.0 M
Net Profit Margin xxxxxxxxxxxxxxx16.42 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx28.04 %
Return on Invested Capital xxxxxxxxxxxxxxx11.46 %
Return on Assets xxxxxxxxxxxxxxx8.55 %
Return on Equity xxxxxxxxxxxxxxx28.04 %
Return on Total Capital xxxxxxxxxxxxxxx16.06 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx902.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx332 M
Long Term Debt xxxxxxxxxxxxxxx5,497 M
Total Debt xxxxxxxxxxxxxxx5,829 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,595 M
Price To Book Value xxxxxxxxxxxxxxx2.81

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx1,222.0 M
Capex % of Sales xxxxxxxxxxxxxxx18.91 %
Cost of Goods Sold xxxxxxxxxxxxxxx3,285 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,565 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx299 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.9

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

28/08/2026

2

Downgrade to Accumulate from Buy

$71.00

31.21%

Mineral Resources delivered a strong FY26 result and FY27 guidance, Morgans reports. Underlying profit was an 8% beat versus expectations and the final dividend of 83cps compared to consensus of 7.4cps.

The stock gave back its early gains post the conference call after management flagged copper as a next potential growth pathway which Morgans thinks unsettled some investors.

Mineral Resources' diversification across mining services, iron ore and lithium underpins a more stable earnings profile than single-commodity peers in Morgans' coverage. Growth potential in Mining Services presents a significant opportunity going forward.

Target rises to $71 from $68, downgrade to Accumulate from Buy.

FORECAST
Morgans forecasts a full year FY27 dividend of 1.60 cents and EPS of 400.00 cents.
Morgans forecasts a full year FY28 dividend of 1.22 cents and EPS of 306.00 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

01/09/2026

5

Sell

$29.20

-46.04%

Jarden maintains a Sell rating for Mineral Resources with its target price decreased to $29.20 from $29.50 following an FY26 result the analyst described as messy, despite underlying EBITDA aligning with expectations and NPAT beating consensus by 8%.

The broker highlights the resumption of dividends at 83c per share as a surprise given the company's $4.3bn net debt balance.

A key area of concern is the deterioration in Mining Services margins to below $2 per tonne.

While management's FY27 guidance largely captured the broker's forecasts, estimates remain above guidance for Mining Services and Wodgina volumes.

The target price reduction incorporates capital expenditure guidance running approximately $200m higher than forecast, although EBITDA estimates for FY27 and FY28 were upgraded by 6%-8%.

The stock's valuation is viewed as elevated, trading at a 123% premium to the analyst's net present value model, which continues to embed optimistic assumptions.
Access Extra Coverage Research History >

MIN STOCK CHART

FNArena News on MIN

1
Mineral Resources’ Ambition Raises Concerns

Sep 07 2026 - Australia
2
Rudi’s View: Resources, Healthcare & Best Buys

Sep 03 2026 - Rudi's View
3
Australian Broker Call *Extra* Edition – Sep 01, 2026

Sep 01 2026 - Daily Market Reports
4
FNArena Corporate Results Monitor – 28-08-2026

Aug 28 2026 - Australia
5
Next Week At A Glance – 31 Aug – 4 Sep 2026

Aug 28 2026 - Weekly Reports

Latest Iron Ore News

1
Rising Costs Hit Fortescue Hard

Aug 05 2026 - Commodities
2
Breakout Opportunity In Mineral Resources

Apr 14 2026 - Technicals
3
Fortescue Shares Finding Technical Support

Nov 18 2025 - Technicals
4
Risk Has Shifted To More Upside For MinRes

Oct 16 2025 - Technicals
5
Mineral Resources Shares Targeting $45

Sep 10 2025 - Technicals
6
Can Champion Iron Deliver On Growth Projects?

Aug 06 2025 - Commodities
7
Execution Remains Key For Mineral Resources

Aug 01 2025 - Commodities
8
Iron Ore Worries Overshadow Fortescue’s FY26

Jul 28 2025 - Australia
9
Bargain Hunters Interest For Champion Iron?

May 08 2025 - Technicals
10
Positive Reversal For Fortescue

May 06 2025 - Technicals