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Mineral Resources Ltd (ASX: MIN) shares were on fire last week.
So much so, the mining and mining services company’s shares are up 25% over the past five sessions.
But if you thought the gains were over, think again.
That’s the view of analysts at Bell Potter, which believe the ASX 200 mining stock is severely undervalued at current levels.
What is the broker saying?
Bell Potter highlights that Mineral Resources has announced Foreign Review Investment Board (FIRB) approval for the sale of a 49% stake in the Onslow Iron Haul Road and has highlighted significant cost savings. It said:
MIN announced receipt of FIRB approval for the sale of 49% of the Onslow Iron Haul Road. Following the approval, upfront consideration of $1.1b is expected to be received within 3 weeks. On cost reductions, MIN identified $300m in FY25 costs savings, without impacting production guidance, with more being investigated.
The…
