Mineral Resources’ (MinRes) stock has risen rapidly in the past week, jumping more than 22 per cent in the past five days.
The company’s stock has also risen by more than 59 per cent in the past month, after a sharp dip of 43 per cent between March 28 and April 9.
This sharp move shows investors have a renewed sense of confidence in the miner, likely fuelled by a range of factors, including recent company developments and a shift in lithium sentiment connected to rising EV sales.
The company reported promising March quarterly results, with liquidity of $1.25 billion, comprising more than $450 million in cash and a fully undrawn $800 million in a revolving credit facility.
Total iron ore production across Onslow Iron and the Pilbara Hub was six million wet metric tonnes (wmt), with shipments of 5.9 million wmt.
MinRes said all parts of Onslow Iron were “operating cashflow positive in the March quarter, as they have been since November 2024”.
MinRes remains on track to achieve nameplate capacity of 35 million tonnes per annum (Mtpa) in early part of the 2025–26 financial year (FY26), with the Onslow Iron haul road upgrades progressing.
Lithium operations also delivered positive news, with total quarterly attributable spodumene production reached 133,000 dry metric tonnes (dmt), with shipments of 127,000dmt.
Mt Marion’s FY25 volume guidance was increased to 185,000–200,000dmt, up from 150,000–170,000dmt, driven by improved recoveries and higher quality feed.
At Wodgina, quarterly production rose 17 per cent quarter-on-quarter, despite cyclone disruptions.
This recent rise in stocks could have been supported by reports the share of EV sales rose 20 per cent in 2024 for all vehicles sold globally, with Australian sales growing by 14 per cent.
This is according to a new report by the International Energy Agency, which saw sales growth was the strongest in China where 11 million EVs were sold.
South-East Asia and Latin American markets saw sales increase by 50 per cent compared to 2023.
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