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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Mineral Resources Ltd | ASX:MINCD | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
From Jan 2020 to Jan 2025
2352 GMT [Dow Jones] Iron-ore miner and engineering contractor Mineral Resources (MIN.AU) climbs 4% to A$4.83 Friday, reflecting the hat trick of good news provided to shareholders at its annual meeting this week. Mineral Resources said it has won a contract to provide mining services to Rio Tinto's (RIO) Nammuldi pit in Western Australia; it plans to launch a A$30 million share buyback; and anticipates FY16 Ebitda of between A$250 million-A$290 million. That profit forecast was much stronger than Deutsche Bank was expecting, and prompted the broker to lift its price target by 12% to A$7.50/share. Deutsche expects Mineral Resources's annual Ebitda to total A$255 million, compared with an earlier forecast for A$149 million. It retains a buy call on the stock. (david.winning@wsj.com; @dwinningWSJ)
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 19, 2015 19:08 ET (00:08 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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