Headlines:
- Why Analysts Believe Now Is the Time to Buy Mineral Resources Ltd (ASX: MIN) Shares
- Potential 49% Upside: Mineral Resources Ltd (ASX: MIN) Shares Rated Buy by Bell Potter
- Mineral Resources Ltd (ASX: MIN) Could See Significant Gains—Analysts Weigh In
Now May Be the Time to Consider Mineral Resources Ltd (ASX: MIN) Shares
Bell Potter analysts are optimistic about the potential for Mineral Resources Ltd (ASX: MIN) shares, suggesting that now might be an opportune moment to invest. The brokerage's recent review of the company's quarterly update shows favorable production and cost outcomes, along with stronger-than-expected commodity prices, particularly in lithium spodumene concentrate.
Despite some adjustments to earnings estimates due to revised iron ore and lithium price forecasts, Bell Potter maintains a positive outlook. They have lowered their long-term iron ore price forecast to $95 per tonne and adjusted lithium price predictions for FY25, but still see substantial potential upside.
The broker has reiterated its buy rating on MIN, with a revised price target of $80.00, up from $84.00. Given the current share price of $53.87, this suggests a potential gain of around 49% over the next 12 months. Bell Potter views MIN's growth in the iron ore sector and strategic investments as key factors driving future returns, making it an attractive option for those seeking exposure to the mining sector.