The Mineral Resources Limited (ASX: MIN) share price was a strong performer on the local market on Thursday.
The mining and mining services company's shares finished the day over 4% higher to $19.04 following the release of its half-year results.
That release revealed a 22% increase in half-year revenue to $962 million. And on the bottom line Mineral Resources reported diluted earnings per share of 70 cents, up 25% on the prior corresponding period.
This was driven by strong production at its Mt Marion spodumene site, a solid performance from its mining services business, and favourable prices for its iron ore business.
Pleasingly for shareholders, management expects a strong second-half and has retained its guidance of EBITDA in excess of $500 million.
The gains may not have stopped here, either. Earlier today we revealed that Mineral Resources had been given a buy rating and $20.50 price target by Ord Minnett. The broker has a favourable view on miners with exposure to lithium due to the electric vehicle thematic.
Kidman Resources Ltd (ASX: KDR) and Orocobre Limited (ASX: ORE) were also given buy ratings.
