Mineral Resources Ltd (ASX: MIN) shares are climbing higher into the green today.
At the time of writing, the shares are up around 4% at $55.57 a piece.
The increase is great news for investors after a volatile run so far this year. The shares have swung wildly, ranging from $27.65 to $74.94 over the past 12 months.
For the year to date, they're roughly flat, and they're around 81% higher than 12 months ago.
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So if I bought $1,000 of Minerals Resources shares 12 months ago, what would they be worth today?
This time last year, the miner's shares were close to a multi-year low and trading hands for $30.66 each. Today they're trading 81% higher.
That means your $1,000 investment in July last year would now be worth closer to $1,810.
That's a decent increase!
What's ahead for Mineral Resources shares?
The experts are incredibly bullish about the upside for Mineral Resources shares over the next 12 months.
Market Index data shows that all brokers agree on a buy rating on the ASX mining share. The average $79.83 target price implies an upside of around 50% at the time of writing.
The data is similar on TradingView. Sentiment is more mixed, but the majority (10 out of 16) have a buy or strong buy rating on the shares.
The average target price is lower at $69.68, implying a potential 26% upside at the time of writing. But more bullish analysts expect the shares to increase 55% to around $86 a piece over the next 12 months.
If analyst forecasts are correct, your $1,000 investment last year could be worth around $2,800 by July 2027.
What could drive the share price higher over the next 12 months?
It looks like the key driver of a share price increase over the next year is that the ASX mining stock is still considered oversold and below fair value.
Mineral Resources suffered a sharp share price crash in mid-2024, before bottoming at a five-year low in early 2025. Since then, there has been an impressive recovery. But it appears that the miner has a lot more to bring to the table.
Mineral Resources has major exposure to lithium and has ridden the wave of soaring lithium carbonate prices through early 2026.
The miner confirmed plans to restart operations at its 100%-owned Bald Hill lithium mine in May, following a "significant and sustained recovery" in lithium prices.
Later the same month, site activity ramped up, and the first production blast was successfully completed in early June.
The initial shipment is expected to depart through the Port of Esperance in the first quarter of FY27.
