I wanted to recommend this to a few friends and crunched some numbers again. It is unbelivable how underpriced MIN is. On conservative assumptions I get 8 B of value for iron ore; 9 B for mining service (a lot of upside here); 6 B for lithium; and 3 B for energy.
On Bearish scenario, this should be worth around 26 B (bullish around 40 B). Basically, you are paying for mining services (which is growing a lot this year with onslow) or Iron ore alone. One of the two is written off alongside the lithium business (capacity and hub), and energy. How can a large cap be this mispriced.
Increased my position by 10% and currently thinking of doubling it.
Ann: FY24 Q3 Quarterly Activity Report, page-20
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Last
$51.98 |
Change
-2.020(3.74%) |
Mkt cap ! $10.25B | |||
| Open | High | Low | Value | Volume |
| $53.02 | $53.79 | $51.90 | $62.98M | 1.201M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2123 | $51.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $52.10 | 100 | 1 |
View Market Depth
| Last trade - 16.10pm 30/07/2024 (20 minute delay) ? |
| MIN (ASX) Chart |