Morgans cuts target to AUD 61.00 for Mineral Resources stock
Published on 10/27/2026 at 18:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSTarget cut and operating update
- Morgans cut its Mineral Resources target from AUD 65.00 to AUD 61.00 on October 27, 2026.
- Mining Services production reached 103 million tonnes in the first quarter of fiscal 2027.
- Mineral Resources stock costs EUR 27.93 at Lang & Schwarz on October 27, 2026 at 6:49 p.m. CEST.
- The annual meeting is scheduled for November 18, 2026.
Mineral Resources (AU000000MIN4) faces a lower broker valuation after Morgans cut its target from AUD 65.00 to AUD 61.00 on October 27, 2026, as The Motley Fool Australia reported. The new target stands 38.86 percent above the ASX price of AUD 43.93. Mineral Resources was trading at EUR 27.93 at Lang & Schwarz on October 27, 2026 at 6:49 p.m. CEST.
Broker view meets record volumes
The target cut came alongside a strong operational update. Mineral Resources reported Mining Services production of 103 million tonnes in the three months ended September 30, 2026, up 10.00 percent quarter on quarter. Attributable lithium sales reached a record 170,000 dry metric tonnes of SC6, up 8.00 percent quarter on quarter.
The same report showed a split between volume and pricing. Onslow Iron shipped 9.2 million wet metric tonnes, while its quarterly realized iron ore price was USD 83.00 per dry metric tonne. Lithium sales volumes rose, but the weighted average realized SC6 price fell 23.00 percent quarter on quarter to USD 1,873.00 per dry metric tonne.
What does the target imply?
At AUD 43.93, the Morgans target implies 38.86 percent upside in the same currency. The broker still cited weaker commodity prices and higher diesel costs as restraints, while Mining Services provided support for earnings and cash flow, according to The Motley Fool Australia.
Valuation and upcoming date
Mineral Resources had a market capitalization of AUD 8.6 billion and a trailing price-to-earnings ratio of 8.23 as of October 27, 2026. Its 52-week ASX range was AUD 41.62 to AUD 74.94, placing the latest price AUD 2.31 above the low and AUD 31.01 below the high.
The company's annual meeting is scheduled for November 18, 2026. Its first-quarter report also said dredging at Onslow Iron is scheduled to resume in mid-November, with completion expected by the end of the second quarter of fiscal 2027.
Comparison with peers
Mineral Resources: 8.23 price-to-earnings ratio, AUD 8.6 billion market capitalization. BHP Group (ASX, AUD): up 4.26 percent, price-to-earnings ratio 21.12, market capitalization AUD 294.8 billion. Fortescue (ASX, AUD): down 0.55 percent, price-to-earnings ratio 10.96, market capitalization AUD 44.6 billion.
Price and investor perspective
The operating figures point to higher volumes, while the broker revision highlights the sensitivity of earnings to lithium prices and diesel costs. Mineral Resources stock was trading at EUR 27.93 at Lang & Schwarz on October 27, 2026 at 6:49 p.m. CEST.
The further course of trading is shown by the continuously updated real-time quote of Mineral Resources stock.
Mineral Resources stock at a glance
- Company: Mineral Resources Limited
- ISIN: AU000000MIN4
- Ticker: MIN
- Primary exchange: ASX
- Price Lang & Schwarz (as of October 27, 2026, 6:49 p.m. CEST): EUR 27.93
- Market capitalization: AUD 8.6 billion (as of October 27, 2026)
- 52-week range: AUD 41.62-AUD 74.94 (as of October 27, 2026)
- Sector / Industry: Basic Materials / Industrial Materials
- Next corporate date: November 18, 2026 - annual meeting
Market context: Market report S&P/ASX 200.
