The Mineral Resources Limited (ASX: MIN) share price has outperformed the S&P/ASX 200 Index (ASX: XJO) by 35% so far this year.
And even better days could be to come if these experts are to be believed, with the company's earnings reportedly tipped to boom over the coming years.
The ASX 200 company provides mining services, produces iron ore and lithium, and explores for gas in the Perth Basin.
It's also outperforming the broader index today. The Mineral Resources share price is down 0.6% right now, trading at $71.65. Meanwhile, the index is tumbling 1.5%.
So, what are experts tipping for the company's future? Let's take a look.
ASX 200 miner's EBITDA tipped to grow 87% by FY24
RBC Capital Markets is expecting big things for ASX 200 mining share, slapping it with a $77 price target, the Australian Financial Review reports.
But that's not the least of it. The broker is said to be expecting major growth in the company's earnings.
Mineral Resources posted around $1 billion of underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) for financial year 2022.
That's been tipped to increase around 150% this fiscal year, with RBC Capital Markets reportedly expecting the company to post $2.5 billion of EBITDA, driven by its lithium segment.
That's notably higher than that tipped by top broker Goldman Sachs. It expects the ASX 200 miner's earnings to reach $2.3 billion this financial year.
Goldman Sachs also has a buy rating and a $69.50 price target on Mineral Resources shares.
Looking further into the future, RBC Capital Markets expects that, come financial year 2024, Mineral Resources' earnings will have grown 87% on financial year 2022 levels.
That's despite the broker's bearish outlook for both lithium and iron ore prices. Analyst Kaan Peker was quoted by the AFR as saying:
[Mineral Resources] has positioned itself for multi-commodity production growth … which will underpin continued strong earnings generation, despite a forecast decline in lithium and iron ore prices.
Stock in the ASX 200 miner has gained 22% so far this year. It's also 60% higher than it was this time last year.
