Section 1: Company Overview and Fundamental Insights

Company Overview: Mineral Resources Limited (ASX: MIN) is an Australia-based mining services company that owns a mining portfolio of multiple commodities, including iron ore and lithium. Kalkine’s Global Fully Charged Report covers the Key Financial Metrics, Management Insights, Risks, Outlook, Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock.

1.2The Key Positives, Negatives, Investment Highlights, and Risks

1.3 Top 10 Shareholders: The top 10 shareholders together form ~28.48% of the total shareholding. Ellison (Christopher James) and Norges Bank Investment Management (NBIM) holds a maximum stake in the company at ~11.48% and ~2.83%, respectively.

1.4 Operational Highlights for 3-month ended 31 March 2023 (3QFY23)

Section 2: Business Update and Historical Financial Highlights

2.1 Business Update

2.2 Historical Financial Highlights

Section 3: Key Risks and Future Prospects

Section 4: Valuation, Stock Recommendation Summary, Technical Table, and Price Chart

The stock has witnessed a dip of ~14.92% in last 3 month, and over the last 6 months, it has decreased by ~20.08%. The stock has a 52-week low and 52-week high of AUD 42.750 and AUD 96.970, respectively and is currently trading below the average of a 52-week high-low average. MIN was last covered in a report dated ’26 April 2023’. 

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an indicator nor a guarantee of future performance. 

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 13 June 2023. The reference data in this report has been partly sourced from REFINITIV. 

Note 3: Investment decisions should be made depending on an individual’s appetite for upside potential, risks, holding duration, and any previous holdings. An ‘Exit’ from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above. 

Technical Indicators Defined: - 

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock. 

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock. 

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.

Disclaimer

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