Australia's Mineral Resources hits near 3-year low on weak FY results, outlook
** Shares of diversified miner Mineral Resources MIN.AX fall as much as 12.1% to A$38.820, their lowest since November 2021
** After market close on Wednesday, co reported a nearly 80% slump in its underlying annual profit to A$158 mln ($107.41 mln), hit by weaker lithium prices
** Citi says co's FY25 lithium production guidance of 480-545 kt is ~60kt less than expected at mid-point
** MIN's FY25 capex guidance of A$1.95 bln also higher than consensus estimate of A$1.69 bln
** On one hand the market will like signs on discipline on growth until the balance sheet is looking better, but on the other A$1.9bn of capex is hard to digest - Citi
** Stock among top losers on the ASX 200 benchmark index .AXJO
** As of last close, stock down 36.9% YTD
($1 = 1.4710 Australian dollars)
Reporting by Himanshi Akhand in Bengaluru
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