The Mineral Resources Limited (ASX: MIN) share price has enjoyed strong gains, up 74% since this time last year. This comes as the mining services company experienced sky-high prices for iron ore and lithium throughout 2021 until of late.
At Monday's market close, Mineral Resources shares finished the day up 0.51% to $51.31.
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What's going on with the Mineral Resources share price?
Investors have been relatively buoyant on the Mineral Resources share price despite its steep 16% drop over the past week.
The spot price for iron ore and lithium surged in the first half of 2021, which translated to bumper profits for Mineral Resources.
In its FY21 full-year results, the company reported revenue of $3.7 billion, up 76% over the prior corresponding period. The robust performance was driven by mining services growth and new external contracts, record commodities shipment, and strong spot prices.
This led to underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) of $1.9 billion, up 148% compared to FY20.
However, as mentioned above, the Mineral Resources share price has taken a tumble since around the time the company revealed its FY21 scorecard.
The spot price for lithium and iron ore has been weighted down as China has cut its imports from Australia. In addition, the Asian country has ramped up domestic efforts to be more self-reliant in producing critical minerals and iron ore.
Since August 13, Mineral Resources shares have sunk from $61.52 to $51.31, representing a fall of 16.6%.
Mineral Resources dividend yield
Mineral Resources paid a fully franked interim dividend of $1.00 per share to shareholders in March. On top of this, the company rewarded shareholders with a final dividend payment of $1.75 this earnings season.
When factoring in the current share price along with its full-year dividend payment, this gives Minerals Resources a dividend yield of 5.35%.
Not a bad return for investors when factoring in the company's share price over the past 12 months.
