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).
Hot off the press: Ord Minnett rates MIN as Accumulate (2) - The...
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Last
$40.15 |
Change
-0.460(1.13%) |
Mkt cap ! $7.890B | |||
| Open | High | Low | Value | Volume |
| $39.95 | $40.56 | $39.90 | $142.8M | 3.549M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2323 | $40.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.24 | 3692 | 1 |
View Market Depth
| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| MIN (ASX) Chart |