Up 263% since April are Mineral Resources shares still a good buy today?

Mineral Resources Ltd (ASX: MIN) shares are shaking off the broader market retrace today and marching higher.

Shares in the S&P/ASX 200 Index (ASX: XJO) lithium miner and diversified resources producer closed Friday trading for $52.03. During the Monday lunch hour, shares are changing hands for $52.22 up 0.4%.

For some context, the ASX 200 is down 0.7% at this same time.

That’s some welcome outperformance from the ASX 200 mining stock today.

And investors who bought Mineral Resources shares at the multi-year closing low of $14.40 on 9 April will really be cheering, with the stock now up a blistering 262.6% since that low. Or enough to turn a $10,000 investment into $36,264.

Boom!

But following on that tremendous run, is the Aussie miner still a good buy today?

Should you buy Mineral Resources shares today?

Alto Capital’s Tony Locantro recently ran his slide rule over the diversified mining stock (courtesy of The Bull).

“MIN is a diversified resources company, with extensive operations in lithium, iron ore, energy and mining services across Western Australia,” he said.

“The company delivered strong operational results in the first quarter of 2026, which included record iron ore output from Onslow Iron, triggering a $200 million payment,” Locantro noted.

Indeed, Mineral Resources shares closed up 13.7% at $48.20 on 30 October, the day the company reported its Q1 FY 2026 results.

As Locantro mentioned, with Onslow Iron operating at its 35 million tonne per annum (Mtpa) nameplate capacity between August and October, investors reacted enthusiastically after the miner said it will receive a $200 million contingent payment from Morgan Stanley Infrastructure Partners.

The miner also reassured the market, saying it was on track to meet its fully year FY 2026 volume and cost guidance across all of its divisions.

Less than two weeks later, Mineral Resources shares leapt another 9.2% on 12 November. That came after the miner announced a major agreement with South Korean steel manufacturing giant POSCO to sell some of its interests in its Western Australian lithium mines.

“MIN’s joint venture lithium terms with POSCO Holdings will realise it an upfront payment of $A1.2 billion for part of MIN’s lithium business,” Locantro said.

But following on the massive run higher, he has a sell recommendation on Mineral Resources shares.

Locantro concluded:

MIN’S shares have risen from $14.40 on April 9 to trade at $51.90 on December 11. With most of the upside seemingly priced in and commodity cycles still volatile, it may be prudent to cash in some gains made on the strong share price recovery.

The post Up 263% since April are Mineral Resources shares still a good buy today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben 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.