Mineral Resources Ltd (ASX: MIN) experienced a remarkable turnaround on Thursday, with its stock price soaring 17.01% during intraday trading. This surge comes as a surprise, given the company's recent struggles and its inclusion in a list of stocks hitting 52-week lows earlier this week.

The dramatic rise in MIN's share price appears to be driven by a shift in investor sentiment, possibly influenced by recent analyst opinions. Despite being "beaten to a pulp" earlier this year due to sector-wide challenges and company-specific concerns, some market experts are beginning to see value emerging in the stock. Notably, Rahul Anand, Head of Australia Materials Research at Morgan Stanley, has given MIN an overweight rating, suggesting the stock could potentially double in value.

While concerns about Mineral Resources' debt levels persist, with Goldman Sachs expecting the company's debt to peak at $5.6 billion this year, the improving backdrop for iron ore and the anticipated ramp-up of the Ashburton project are factors that could contribute to the company's recovery. Investors appear to be reassessing the stock's potential, leading to today's significant price movement. However, it remains to be seen whether this surge represents a sustainable turnaround or a temporary rebound in a challenging market environment for resource stocks.