Macquarie keeps AUD 75.00 target for Mineral Resources stock

Published on 10/24/2026 at 18:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q1 FY27 volumes hit 103 million tonnes, up 10.00 percent. Mineral Resources stock was AUD 42.36 on October 23, 2026 at 3:17 p.m. AEST, down 4.27 percent on ASX.

Macquarie target and quarterly volumes

Macquarie maintained an AUD 75.00 target and Buy rating on October 22, 2026.
First-quarter fiscal 2027 volumes reached 103 million tonnes, up 10.00 percent quarter on quarter.
Mineral Resources last traded at AUD 42.36 on October 23, 2026 at 3:17 p.m. AEST, down 4.27 percent on ASX.

Mineral Resources, AU000000MIN4, Illustration mit AI erstellt.

Mineral Resources (ISIN AU000000MIN4) had Macquarie maintain its Buy rating and AUD 75.00 price target in a report released on October 22, 2026, as Markets Insider reported. The target lies 77.05 percent above the ASX price of AUD 42.36. Mineral Resources was last traded at AUD 42.36 on October 23, 2026 at 3:17 p.m. AEST, down 4.27 percent from AUD 44.25.

Quarterly volumes reach 103 million tonnes

Mineral Resources reported record Mining Services production of 103 million tonnes in the three months to September 30, 2026, up 10.00 percent from the prior quarter. The company also reported record attributable lithium sales of 170,000 dry metric tonnes of SC6, up 8.00 percent quarter on quarter, according to its October 23, 2026 quarterly report.

The same report said FY27 guidance remained maintained across all divisions. Onslow Iron shipped 9.20 million wet metric tonnes in the quarter, while the operation's FOB cost was USD 53.00 per wet metric tonne, below its guidance range of USD 54.00 to USD 58.00.

Price position after October 23

Mineral Resources traded at AUD 42.36 on the ASX on October 23, 2026 at 3:17 p.m. AEST. Its 52-week range was AUD 41.83 to AUD 74.94, placing the price AUD 0.53 above the low and AUD 32.58 below the high. Trading volume reached 1,577,226 shares on that session.

What does the target imply?

Macquarie's AUD 75.00 target is 77.05 percent above the latest ASX price. That comparison sits alongside a reported first-quarter realized iron ore price of USD 83.00 per dry metric tonne, down 5.00 percent quarter on quarter, and a lithium SC6 realized price of USD 1,873.00 per dry metric tonne, down 23.00 percent quarter on quarter.

Valuation and peer comparison

As of October 23, 2026, Mineral Resources had a price-to-earnings ratio of 7.93, a market capitalization of AUD 8.3 billion and a trailing dividend yield of 2.00 percent. The balance sheet update in the quarterly report put net debt at AUD 4.1 billion and liquidity at AUD 2.5 billion.

Comparison with peers

Mineral Resources (ASX, AUD): down 4.27 percent, price-to-earnings ratio 7.93, market capitalization AUD 8.3 billion.
BHP Group (ASX, AUD): down 3.64 percent, price-to-earnings ratio 20.07, market capitalization AUD 279.8 billion.
Rio Tinto (ASX, AUD): down 2.68 percent, price-to-earnings ratio 11.31, market capitalization AUD 211.3 billion.

Operations set the next marker

Mineral Resources has scheduled the next phase of Onslow Iron dredging for mid-November 2026, with completion expected by the end of the second quarter of fiscal 2027. The quarterly report also said construction of the Onslow Iron resort remained on track for completion in early fiscal 2028.

Mineral Resources was last traded at AUD 42.36 on the ASX on October 23, 2026 at 3:17 p.m. AEST, down 4.27 percent from AUD 44.25.