Tiger Brokers

BUZZ-Australia's Mineral Resources jumps as UBS upgrades to 'buy'

Reuters
Mar 17, 2025
BUZZ-Australia's Mineral Resources jumps as UBS upgrades to 'buy'

** Shares of Australia's Mineral Resources MIN.AX rise 8.5% to A$23.81, set for their strongest trading session since December 10, 2024, if gains hold

** Analysts at UBS upgrade stock recommendation to "buy" from "sell"

** Brokerage upgrades earnings estimates on co by 6% and 45% for FY26 and FY27, respectively

** UBS says the lithium miner had adequately addressed concerns pertaining to governance issues surrounding founder Chris Ellison

** Adds that Mineral Resources is pricing in $80 a ton iron ore and $1,300 a ton spodumene, meaning that if sport prices prevail, the broker sees fair value of MinRes shares at A$32.30

** Stock down 30.8%, YTD

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com;))

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