Broker tips 30% upside for Mineral Resources (ASX:MIN) share price

The Mineral Resources Ltd (ASX: MIN) share price closed higher yesterday, up 0.4% to $38.69. However, one broker believes there is still more fuel in this company’s tank.

Considering Mineral Resources is a mid-cap share, its performance over the past 12 months has been nothing short of jaw-dropping. Strap yourself in for this one… In the past year, Mineral Resources shares have returned 179%, outstripping the S&P/ASX 200 Materials Index (ASX: XMJ) by over 130%.

Iron ore demand ‘steels’ the show

Mineral Resources has largely benefitted from the strong demand for its iron ore. This insatiable demand comes predominantly from China, as…