Sydney, Feb 2, 2026, 17:11 AEDT — The market has closed.
Shares of Mineral Resources Ltd slipped 1.45% to close at A$56.32 on Monday, deepening a decline that has erased almost 12% from the stock in the last five trading days.
Broker Ord Minnett downgraded Mineral Resources from Accumulate to Hold, according to a FNArena summary of broker updates. At the same time, it raised Pilbara Minerals to Accumulate. This update came ahead of the Reserve Bank of Australia’s rate decision on Tuesday.
That blend of changing broker views and a weaker market has left investors cautious, following a steep drop in precious metals that dragged down broader Asian equities.
Mineral Resources manages lithium and iron ore operations in Western Australia and also runs a mining services division, providing several avenues to benefit from commodity price shifts and project execution.
On Monday, shares fluctuated from A$53.15 up to A$56.84, following a previous close at A$57.15, pricing data revealed.
In its quarterly update on Jan. 29, MinRes raised lithium volume forecasts for Wodgina and Mt Marion, citing firmer realised prices. The company also noted that Onslow Iron costs were in line with guidance. Meanwhile, the planned sale of part of its lithium business to POSCO is still pending approvals and is expected to conclude in the first half of 2026.
Chief Financial Officer Mark Wilson told an analyst call that “Onslow Iron continues to operate at its nameplate capacity” — the designed run-rate — but added the company plans to be “very prudent” on restart decisions given lithium’s volatility. MarketScreener
The downside risk remains. Lithium prices can shift quickly, and miners launching large projects risk burning through cash if costs or logistics hit unexpectedly.
As the ASX remains closed, traders are watching overnight shifts in commodities and the Australian dollar closely, along with any updates to broker forecasts, while the week’s macro events unfold.
Mineral Resources is set to release its half-year financial results on Feb. 20, according to the company’s investor calendar.
