No question that the current price is a little concerning b/c P/E is around the 57X ! ....try and find another major miner with that sort of multiple. I do not think you will. I have been looking. So this alone is a risk. Any miss in production, profit, or otherwise may cause significant price reaction.
On the other hand MIN has several bows. Mining services, Iron Ore , Energy, Lithium.
Hugely volatile though. Probably b/c of high P/E multiple .
If one can get your entry cost down it is a gold mine for covered call writing. Can generally get 4% per month if fortunate.
The key is your base cost.
I write calls on some and keep a small amount unencumbered for that eventual $100.00 price.....2,3,4,5 years away???
No question that the current price is a little concerning b/c...
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Last
$53.92 |
Change
-2.000(3.58%) |
Mkt cap ! $10.56B | |||
| Open | High | Low | Value | Volume |
| $55.69 | $55.75 | $53.92 | $70.45M | 1.292M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2257 | $53.92 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $54.20 | 2000 | 1 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| MIN (ASX) Chart |