Mineral Resources share price jumps 8% as UBS calls it a buy
Image source: Getty Images
The Mineral Resources Ltd (ASX: MIN) share price is up 8% after the ASX mining stock got a boost from the broker UBS calling it a buy.
UBS described the situation with Mineral Resources as being “darkest before dawn”.
The broker explained that its previous sell rating was based on the company’s exposure to the weakening outlook for lithium and iron. UBS was also concerned by the increasing levels of debt on the balance sheet as it completed the Onslow iron project. Governance issues at the end of 2024 “further complicated matters”.
UBS said that while those concerns haven’t been fully resolved, it has assessed funding and operational scenarios and upgraded earnings per share (EPS) for…
