23/05/2024 09:39

Alumina Ltd (AWC) $1.82

AWC has had a stellar year, now up 92% making it the ASX200’s second-best performer. Not bad for a stock you couldn’t give away in January below $1! A takeover tilt from Alcoa in the US is the primary catalyst with the deal nearing completion, Australian investors will soon be issued with Alcoa CDI’s listed on the ASX, with one key detraction being the loss of franking credits on dividends.

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16/04/2024 09:26

Alumina Ltd (AWC) $1.59

AWC has been a standout silent achiever over the last 6-months, more than doubling from its November low. Alumina producer AWC had previously endured an awful five years, but strength emerged as the sanctions against Russia took hold. China is the largest Alumina consumer, taking ~40% of the supply.

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25/01/2024 09:24

Alumina Ltd (AWC) $1.10

Alumina producer AWC has endured an awful 5-years although there have been some significant bounces along the way. The stock has seen Morgan Stanely raise its target price to $1.10 and Goldman Sachs cut it to $1.39 with strength emerging as the EU considers sanctions towards Russia. 

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21/09/2023 09:41

Alumina Ltd (AWC) 99.5c

AWC made fresh 7-year lows on Wednesday, just a few weeks after a block trade of 50 million shares, 1.9% of the free float, traded at $1.07 - the seller is winning at the moment.  We simply regard AWC as too hard, there are better quality miners on the ASX paying healthy dividends to consider AWC until further notice.

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01/09/2023 09:03

Alumina Ltd (AWC) $1.08

AWC finally found some love on Thursday closing up +2.9% after a block trade of 50 million shares, 1.9% of the free float, traded at $1.07, it’s a 2-way street but obviously somebody sees some value in the embattled alumina producer as it tests multi-year lows. Last week we saw AWC declare a Net loss of $US42.9mn for the 1st half of 2023, not a quality business for MM at this stage.

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01/08/2023 09:52

Alumina (AWC) $1.43

AWC was the market’s best-performing stock yesterday rallying +2.9%, not a common position for the stock which has been under pressure for years. We are not a huge fan of this business as Alcoa (AA US) in the US struggles, with Alumina being the beneficiary of a portion of their earnings.

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20/07/2023 09:28

Alumina Ltd (AWC) $1.38

AWC is arguably the most unloved major miner on the ASX having fallen over -40% from its 2021 high, the entrenched negative sentiment towards the stock is reminiscent of that shown towards Whitehaven Coal (WHC) in 2020 before the stock rallied over 10-fold!

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02/06/2023 09:02

Alumina Ltd (AWC) $1.385

Alumina (AWC) owns a 40% stake in the bauxite and alumina operations of the global mining group Alcoa (AA US), the US-based miner has fallen over 65% from its 2022 high which explains why AWC has endured a tough few years. AWC is certainly one of those stocks that keeps getting weaker with it unfortunately becoming a yield trap for many investors.

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31/03/2023 09:17

Alumina Ltd (AWC) $1.46

AWC is one of those shares that cannot take a trick of late with it becoming a yield trap for many investors i.e. a forecast yield over the next 12 months close to 8% is irrelevant when the stock almost halves when the broader markets rally.

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20/01/2023 09:23

2 Alumina Ltd (AWC) $1.585 – Part 2

Just 24 hours after MM flagged our interest towards AWC into weakness the stock plunged -6.8% on large volume after their US joint venture partner Alcoa reported higher costs and lower prices, not a good combination which feeds in contracting margins! Alumina’s MD presented an upbeat earnings outlook but the market might need some proof before re-embracing this particular resource play.

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