Hot off the press:
Ord Minnett rates MIN as Accumulate (2) -
The company will create a 50-50 joint venture with US-listed Albemarle to own and operate the Wodgina lithium operation and co-develop integrated lithium hydroxide facilities. Albemarle will pay US$1.15bn for the stake.
Ord Minnett believes the deal is clean and fair and Mineral Resources has galvanised the value of the downstream option, underpinning Wodgina as a tier-1 strategic asset.
The broker maintains an Accumulate rating and raises the target to $21 from $18. The joint venture will look to commence construction on the plant as soon as necessary licenses and approvals are in place.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $21.00 Current Price is $15.15 Difference: $5.85
If MIN meets the Ord Minnett target it will return approximately 39% (excluding dividends, fees and charges).
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$50.99 |
Change
-0.740(1.43%) |
Mkt cap ! $10.02B |
Open | High | Low | Value | Volume |
$50.86 | $51.23 | $48.80 | $99.49M | 1.974M |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 123 | $50.99 |
Sellers (Offers)
Price($) | Vol. | No. |
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$51.00 | 72282 | 6 |
View Market Depth
No. | Vol. | Price($) |
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1 | 100 | 50.500 |
2 | 1600 | 50.000 |
1 | 200 | 49.900 |
1 | 200 | 49.890 |
2 | 1040 | 49.800 |
Price($) | Vol. | No. |
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51.000 | 250 | 1 |
51.030 | 600 | 1 |
51.250 | 500 | 1 |
51.300 | 75 | 1 |
52.000 | 2981 | 6 |
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