2257 GMT - Mineral Resources reduced its net debt by more than Jefferies expected in 2Q, supported by another strong quarter for its iron-ore and lithium operations. Mineral Resources said it had net debt of A$4.9 billion at the end of December. That's down from A$5.4 billion three months earlier. Mineral Resources also raised its guidance for lithium production in FY 2026 by 17% at the midpoint of its earlier range. That's positive, but Jefferies says the rosy outlook is largely priced in to the stock. Jefferies has an underperform call and A$36.50/share price target on Mineral Resources, which ended Wednesday at A$ 63.41. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 28, 2026 17:57 ET (22:57 GMT)
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