Mineral Resources Ltd (ASX: MIN) shares are taking a tumble today.

Shares in the S&P/ASX 200 Index (ASX: XJO) lithium miner and diversified resources producer closed on Friday trading for $50.94. In early afternoon trade on Monday, shares are changing hands for $49.79 apiece, down 2.3%.

For some context, the ASX 200 is up 0.4% at this same time.

Mineral Resources shares have been hammered alongside other lithium and iron ore miners over the past year, which sees the ASX 200 mining stock down 20% in 12 months.

As you can also see, the miner has enjoyed a strong turn for the better, commencing on 23 September.

This came as renewed optimism surrounding Chinese stimulus measures lifted the iron ore price from US$90 per tonne in late September to the current US$106 per tonne.

Mineral Resources has also benefited from improving sentiment around lithium following Rio Tinto Ltd (ASX: RIO)'s recent $10 billion takeover agreement with Arcadium Lithium (ASX: LTM).

Buoyed by these tailwinds, and despite today's dip, Mineral Resources shares are up 35.6% since the closing bell on 23 September.

And Seneca Financial Solutions' Arthur Garipoli believes there are more gains to be had.

Time to buy Mineral Resources shares?

Garipoli has a buy rating on the ASX 200 miner.

He notes (courtesy of The Bull), "The share price of this leading commodity stock has fallen from $79.49 on May 20 to trade at $50.12 on October 10. Softening iron ore and lithium prices contributed to the fall."

The first reason he cites to buy Mineral Resource shares is the company's recently improved balance sheet:

MIN recently sold a 49% interest in its Onslow iron haul road to Morgan Stanley Infrastructure Partners for $1.1 billion. MIN will receive an additional $200 million as a deferred cash settlement if tonnage conditions are met. The cash payment enables the company to reduce debt.

The second reason the ASX 200 miner is looking attractive is its cost reductions.

"Also, cost cutting measures have eased concerns among some investors," Garipoli says.

As for the third reason today's pullback in Mineral Resources shares could make it an opportune entry point, Garipoli notes, "The stock is well placed for potential upside in iron ore and lithium prices."

Indeed, while the latest stimulus news out of China over the weekend was more tepid than many investors had hoped, Chinese officials indicated more support measures could be announced over the coming weeks.

If the past few weeks' price action was any indication, that could support both the iron ore price and lithium markets, which could bode well for Mineral Resources shares.