MIN is still trading at a P/E of 20 based on the Dec HY profit (which excludes the one off restructure profit)
This is way above its peers and IO prices have obviously come off a bit since the average across the HY. Their net debt is substantial, $3.5b as at Dec 2023 and would take many years to pay back based on look forward EBITDA (less sustaining investments)
now take away another 8mt of IO and you are going to have a whole lot of fixed costs amortised over much less IO produced.
Lithium isn’t exactly kicking any more goals than it was this time last year either.
GS had a valuation somewhere in the high $40s for MIN. This might be on the mark
Ann: Yilgarn Hub Update, page-15
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Last
$55.33 |
Change
1.670(3.11%) |
Mkt cap ! $10.87B | |||
| Open | High | Low | Value | Volume |
| $54.07 | $55.70 | $53.43 | $43.73M | 792.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 500 | $55.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $55.34 | 1327 | 3 |
View Market Depth
| Last trade - 16.10pm 03/07/2024 (20 minute delay) ? |
| MIN (ASX) Chart |