The Mineral Resources Limited (ASX: MIN) share price is up today amid a recovery in the materials sector.
The ASX 200 miner’s shares are up 4.14%, while the S&P/ASX 200 Materials Index (ASX: XMJ) is one of the best-performing sector indices today with a 2.09% gain.
It might not be surprising, then, that some of Mineral Resources’ peers have also recovered from yesterday’s sell-off. Pilbara Minerals Ltd (ASX: PLS) is up 6.35%, and Newcrest Mining Ltd (ASX: NCM) is rising 0.44%.
In comparison, the S&P/ASX 200 Index (ASX: XJO) is currently enjoying a 0.27% gain.
So what’s going on? Let’s investigate.
What’s going on with the Mineral Resources?
Investors seem to have refreshed their appetites for shares of Mineral Resources after they suffered a sizable loss yesterday, as the Motley Fool reported. The Mineral Resources share price ended the day 7.94% in the red.
The coverage included the fact that a broker rated the company’s shares a hold and that a speculated demerger of its lithium business “could create value”.
Other ASX lithium shares were also sold off on Monday, with some losing as much as 16.9%.
So with the broader market moving upwards and no news announced from the company, investors may surmise that the prices of these and other lithium shares are too good to pass up.
Mineral Resources share price snapshot
The Mineral Resources share price is up almost 11% year to date and 36% over the past 12 months. Meanwhile, the ASX 200 is down 14.5% in 2022 and 12% in the past year.
Mineral Resources has a market capitalisation of $11.79 billion.
The post Why is the Mineral Resources share price gaining 4% on Tuesday? appeared first on The Motley Fool Australia.
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More reading
- Is the Mineral Resources share price a buy right now?
- Our 4 favourite lithium ASX shares right now: Wilsons
- These ASX 200 dividend shares just paid out. Here’s how much
- Own Mineral Resources shares? Your dividends are on the way
- Here are the top 10 ASX 200 shares today
Motley Fool contributor Matthew Farley has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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