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Monadelphous Group Limited ( (AU:MND) ) has shared an update.
Monadelphous Group Limited has secured a major long-term maintenance services contract with Rio Tinto worth about $300 million over five years, under which it will continue providing fixed plant and shutdown services, including general mechanical and access work, across Rio Tinto’s iron ore operations in Western Australia’s Pilbara region. The award, extending a relationship spanning more than three decades, reinforces Monadelphous’ reputation for safe and reliable delivery and further consolidates its position as a leading maintenance services provider to the resources sector, underscoring the strategic importance of recurring maintenance work with tier-one miners to its ongoing revenue base and industry standing.
The most recent analyst rating on (AU:MND) stock is a Buy with a A$28.75 price target. To see the full list of analyst forecasts on Monadelphous Group Limited stock, see the AU:MND Stock Forecast page.
More about Monadelphous Group Limited
Monadelphous Group Limited is a leading Australian engineering group with more than 50 years’ experience providing construction, maintenance and industrial services to the resources, energy and infrastructure sectors. The company operates through two main divisions: Engineering Construction, which handles large-scale multidisciplinary project management and construction, and Maintenance and Industrial Services, which focuses on mechanical and electrical maintenance, shutdowns, fixed plant maintenance and sustaining capital works. Headquartered in Perth with a major office in Brisbane, Monadelphous maintains a network of offices, projects, facilities and workshops across Australia and in several international locations including China, Mongolia, Papua New Guinea, Vietnam and the Philippines.
Average Trading Volume: 220,557
Technical Sentiment Signal: Buy
Current Market Cap: A$2.72B
For an in-depth examination of MND stock, go to TipRanks’ Overview page.