{
Chris Ellison

People

}
mineral resources faces challenges but shows long-term growth potential
Mineral Resources faces shareholder concerns following the announcement of the Bald Hill Mine's care and maintenance due to declining iron ore prices. The downturn in the lithium market has prompted the company to halt dividends, yet analysts remain optimistic about its long-term potential, particularly with the West Pilbara iron ore project and a growing lithium business. Despite current challenges, the company's diverse portfolio and strategic initiatives could enhance shareholder value, with estimates suggesting a future worth of $50 to $60 per share.
IG
United States Dollar Mineral Resources Limited AUS Chris Ellison
TradFi, Market Report
04:51 21.11.2024
pension group opposes mineral resources pay plan amid ongoing scandals
A group representing Australia’s A$3.9 trillion pension industry has urged its members to oppose the remuneration plan of Mineral Resources Ltd. at the upcoming annual general meeting. The Australian Council of Superannuation Investors seeks clarity on what directors knew regarding the company"s investment in industrial property partly owned by Managing Director Chris Ellison. This controversy is part of a series of scandals that have caused the company"s value to plummet by over 50% since May.
bloomberg.com
Australian Dollar Mineral Resources Limited AUS Chris Ellison
Finance & Economy, News Article
03:44 19.11.2024
HESTA increases scrutiny on Mineral Resources over governance issues
HESTA, one of Australia's largest pension funds with A$88 billion in assets, has intensified scrutiny on Mineral Resources Ltd. due to governance issues involving founder Chris Ellison and the board. The fund has placed the company on its watch list and expressed disappointment with its inadequate responses to governance concerns.
bloomberg.com
Mineral Resources Limited AUS Chris Ellison Debby Blakey
Finance & Economy, News Article
01:33 08.11.2024
mineral resources faces leadership changes and market volatility amid governance issues
Mineral Resources Limited is experiencing stock volatility following leadership changes due to governance issues, including a $3.8 million reimbursement by Ellison for personal use of company resources. Investors are advised to adopt a cautious approach, with analysts suggesting a buy-in at around $30, while RBC Capital Markets maintains an 'outperform' rating with a target price of $64, indicating potential for future growth despite current challenges.
IG
Australian Dollar Mineral Resources Limited AUS RBC Capital Markets Chris Ellison
TradFi, Market Report
06:42 04.11.2024
mineral resources founder chris ellison to step down after investigation
Chris Ellison, founder and managing director of Mineral Resources Ltd., will step down within 18 months and face a penalty of A$8.8 million after an internal investigation revealed undeclared payments to his companies. The company stated that Ellison did not act with integrity, which contradicts its core values. He will remain in his role until a successor is appointed.
Bloomberg.com
Australian Dollar Mineral Resources Limited AUS Chris Ellison
Regulatory & Legal, Press Release
23:32 03.11.2024
ASX 200 declines amid economic concerns and cautious retail sales data
The ASX 200 is down 21 points (-0.26%) at 8159, on track to finish October approximately 1.3% lower after a record high of 8384. Retail sales rose only 0.1% in September, indicating cautious consumer behavior, while Woolworths shares fell 2.3% following a profit warning amid cost-of-living pressures. In contrast, Coles reported stable sales growth and avoided a profit warning, though its shares slipped 1.02%.
IG
Australian Dollar United States Dollar Mineral Resources Limited Westpac Banking Corporation National Australia Bank Limited Coles Group Limited AGL Energy Limited ANZ Asia Ltd. Woolworths Group Limited CBA A320 Aircraft NO1 PTY Ltd. CHN AUS USA GBR Chris Ellison Gina Rinehart Show more
TradFi, Market Report
06:03 31.10.2024
mineral resources investigation into undeclared payments to conclude next week
Mineral Resources Ltd. announced that its investigation into undeclared payments linked to founder Chris Ellison will conclude next week. Ellison, who is also the managing director and a major shareholder, stated that the payments, originating from overseas entities involved in mining equipment sales, pre-date the company's 2006 listing and were not reported.
Bloomberg.com
Mineral Resources Limited AUS Chris Ellison
Regulatory & Legal, News Article
23:05 27.10.2024
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