Mineral Resources Shares Down after Releasing FY21 Results (ASX: MIN)

By ,

The Mineral Resources Limited [ASX: MIN] released its results today for the year ended in 30 June 2021.

Mineral Resources is a Western Australian mining services company but that’s is also exposed to a range of projects involving iron ore and lithium.

Record exports, higher prices

For the year Mineral Resources generated revenues of $3.7 billion, up 76% from last year. Underlying EBITDA was $1.9 billion, up 148% from the same period last year. Underlying net profit after tax came in at $1.1 billion, up 230%.

What happens next to the ASX MIN Share price?

Mineral Resources said they’ll be paying a fully franked final dividend of 175 cents a share to be paid on 7 September. When adding it to the interim dividend of 100 cents per share it comes up to a total fully franked dividend of 275 cents a share, a 175% increase from last year.

For FY22, Mineral Resources is expecting to export between 21 and 22 million tons of iron ore and between 450,000 and 475,000 tons in spodumene.

While this is all great news markets haven’t taken it too well though. At time of writing Mineral Resources shares are down 0.5% and trading at $59.98.

If you are interested in lithium stocks, check out our free report ‘Three Lithium ‘Bounce Back’ Stocks for 2021’ .

For more information, click here .

Best,

Selva Freigedo

PS: This free report reveals three stocks that could surge on the back of renewed demand for lithium in 2021. Click here to get your copy now.

About Selva Freigedo

Selva Freigedo is an analyst at Money Morning. She has a background in financial economics, but what makes Selva´s experiences different to many are the places she has lived and worked. Born in Argentina, she has also lived in Brazil, the US, Spain, and now Australia. She has seen up…

Mineral Resources Shares Flat on Q3 FY22 Update [ASX:MIN]

Mineral Resources [ASX:MIN] today released its Q3 FY22 exploration and mining activities report.

The Five Best Performing ASX Stocks of 2021

We examine the five All Ordinaries [XAO] stocks notching the largest calendar year gains of 2021.

Vulcan Share Price — Lithium Sector’s Bellwether Stock (ASX:VUL)

Vulcan Energy Resources [ASX:VUL] share price is up this week as the lithium developer signed an offtake agreement with automaker Volkswagen.

ASX Lithium and BNPL Stocks Crater on Omicron and Interest Rate Fears

From Afterpay [ASX:APT] to Vulcan Energy Resources [ASX:VUL], BNPL and lithium stocks are under heavy selling pressure today as markets worry about Omicron and inflation.

Mineral Resources Share Price Down 4% on Strategy Update (ASX:MIN)

The Mineral Resources [ASX:MIN] share price is down 5% as the iron ore and lithium producer updated the market on its outlook.

MIN Shares Sink 7% as Spodumene Shipments Fall 50% in Q1 FY22 (ASX:MIN)

Mineral Resources Ltd [ASX:MIN] share price are currently exchanging hands for $39.79 per share, down 7.3%. The Mineral Resources Ltd [ASX:MIN] updated investors with its September quarterly today…