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

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.

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Selva Freigedo

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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 close many of the economic phenomena that worry Fat Tail Investment Research readers, like hyperinflation, bank bail-ins and governments burdened with so much debt it cannot possibly be repaid.

Every week, she goes through each article, research note and recommendation produced by our experts around the world to give you information on how to build and protect your wealth. Selva packages the week’s best ideas into one easy to read report: Port Phillip Insider Extra.

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