The Mineral Resouces Limited (ASX: MIN) share price traded flat yesterday after the lithium and iron ore miner provided updated guidance for EBITDA to come in between $360 million to $390 million over fiscal 2019.
This assumes an average lithium spodumene concentrate price of US$682.38 per tonne and average iron ore price of US83.89 per tonne on an exchange rate of AUD/USD 0.723 cents. The rising iron ore price over the past 12 months proving a boon for the miner.
The company has a market cap of $2.93 billion, but has actually lost nearly a quarter of its value over the past year as falling lithium prices have failed to offset the impact of strengthening iron ore prices.
The group also offers a fully franked 3.4% trailing dividend yield and trades on a low multiple of earnings.
Other more traditional blue-chip players in the mining space to consider include BHP Billliton Limited (ASX: BHP) or Rio Tinto Limited (ASX: RIO).
