Australia's MinRes trims annual Onslow iron volume outlook; Jarden flags caution

Mineral Resources

28/05/2025 02:30

Corrects headline to remove reference to Jarden and bullets 3-4 to reflect the brokerage's view on Onslow shipments issued today, rather than an earlier outlook

** Shares of Mineral Resources MIN.AX slip ~7% to A$22.1, among top losers in benchmark ASX200 index .AXJO

** The miner cut on Tuesday the Onslow iron volume outlook for FY25 to 7.8 million to 8 million tons, from 8.5 million-8.7 million tons

** The forecast equates to 13.8 million–14.1 million tons of shipments on a 100% basis. Jarden says this falls well short of the company's initial estimate; however, with one month remaining, the brokerage still expects the target to be met

** Jarden has a "sell" rating on MIN stock, and a price target of A$15.50

** Stock down 37.4% YTD, including current session

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))