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
$69.24 |
Change
-0.110(0.16%) |
Mkt cap ! $13.79B | |||
| Open | High | Low | Value | Volume |
| $69.90 | $70.49 | $69.00 | $14.43M | 206.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 10 | $69.21 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $69.25 | 163 | 10 |
View Market Depth
| Last trade - 13.24pm 07/06/2024 (20 minute delay) ? |
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Last
$69.23 |
Change
-0.110 ( 0.08 %) |
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| Open | High | Low | Volume | ||
| $69.72 | $70.48 | $69.06 | 60243 | ||
| Last updated 13.43pm 07/06/2024 ? | |||||
| MIN (ASX) Chart |