ASX Stocks to Watch: SOL and Mineral Resources Ltd in Focus

3 min read | October 24, 2024 02:25 AM BST | By Team Kalkine Media

Highlights

  • Washington H. Soul Pattinson has seen a rise in its stock price since the start of 2024.
  • Mineral Resources is performing well, remaining 22% above its 52-week lows.
  • SOL has a history of consistent dividend growth and strong capital returns.

Washington H. Soul Pattinson and Mineral Resources are two ASX-listed companies showing strong performance. SOL has a rich history of consistent dividend growth, while MIN's focus on lithium and iron ore keeps it well-positioned in the mining sector. Both stocks remain key players in their respective industries. 

Washington H. Soul Pattinson’s (ASX:SOL) Strong Performance 

Founded in 1903, Washington H. Soul Pattinson is one of the oldest publicly listed companies in Australia, known for its diversified portfolio. The company has interests in several industries, including telecommunications, energy, and property. With stakes in well-known companies such as TPG Telecom (ASX:TPG) and New Hope Group (ASX:NHC), SOL has built a reputation for delivering consistent returns.  

One of the key highlights of SOL’s performance is its uninterrupted history of dividend payments since its inception. This focus on creating shareholder value through capital growth and increasing dividends has made it a strong player on the ASX. In recent years, SOL has continued to outperform its historical average, with its dividend yield currently standing at 2.75%, slightly above its five-year average. This increase could indicate a combination of dividend growth and share price fluctuations, a common scenario for long-standing companies like SOL. 

Mineral Resources (ASX:MIN) and Its Focus on Lithium and Iron Ore 

Mineral Resources Limited is another prominent name in the Australian mining industry, with a diversified focus on lithium and iron ore extraction. The company operates across Western Australia and provides mining and engineering services through its subsidiary, CSI Mining Services. This capability to offer mining infrastructure and expertise to external clients gives Mineral Resources an edge in the industry. 

Despite market fluctuations, MIN's stock remains 22% off its 52-week lows, showcasing its resilience in the mining sector. The company’s strong focus on lithium positions it well in the evolving landscape of global demand for this key resource, especially with the growing interest in electric vehicles and energy storage solutions. 

Both SOL and MIN continue to be significant players in their respective industries, offering potential for steady performance and growth. These companies remain ones to keep an eye on in the ASX market for those following long-term performers in diverse sectors. 


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