Jefferies downgrades Mineral Resources to 'underperform' on high valuation

Mineral Resources

31/07/2025 02:50

July 31 (Reuters) -

** Mineral Resources MIN.AX falls 8.9% to A$28.030, set for worst day since June 2

** Jefferies downgrades miner to "underperform" on high valuation

** Says co's debt-to-equity ratio remains high and underlying commodity outlook continues to be soft
** Upgrades co's PT to A$25 from A$22 without assigning reason
** Jefferies expects Onslow Iron FY26 shipments of 27.75 metric ton, which is lower than co's guidance of 30-33 Mt

** Four out of 14 analysts rate MIN "buy", five rate "hold", three rate "sell" and two rate "strong sell", analysts have set the median PT at A$26.10 - according to data compiled by LSEG
** YTD, stock down 18%

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.SinghChundawat@thomsonreuters.com;))