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Alumina (AWC)

$2.30
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MM remains long & bullish AWC

OPINION

Alumina (AWC) $2.30

I was a touch disappointed by AWC’s performance yesterday, the 1.3% advance was significantly less than I anticipated after the strong report and rally by Alcoa (AA US) on Friday night, I thought $2.50 was a strong possibility. However we remain bullish for a couple of reasons:

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Chart of the Week

We mentioned aluminum earlier in the commodities section and importantly MM believes in a number of cases the respective benefitting stocks are still too cheap. We have discussed crude stocks a number of times in recent weeks but Alcoa (AA US) illustrated the point that it’s not isolated to the energy complex - on Friday night it surged over 15% following...

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Aluminum ($US/MT)

As we alluded to earlier aluminum hit fresh 13-year highs overnight due to energy disruptions, it may take a while to punch above the $US3000/MT area but the trends up which is the direction in which surprises usually unfold. We are long the related AWC which has a 40% stake in aluminum producer Alcoa, we see value in AWC due to the supply side of the equation.

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Alumina (AWC) $2.05

Alumina has pulled back 6% from this weeks high back into an area of solid risk / reward. We like AWC with the added attraction of a more than 4% fully franked yield. We are meeting the company today at 11am. NB: Alumina prices rallied hard overnight.

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Alumina (AWC) $2.10

AWC has surged +25% in the last fortnight assisted by supply shortages taking the aluminium price to levels not seen in more than a decade. We feel this style of supply / price squeeze will continue through commodity markets over the coming years assuming we are correct and an economic recovery is poised to gather momentum leading to reflation – a great outlook...

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4 trade ideas from Peter O’Connor

Peter O’Connor, our resource Analyst at Shaw sums up his current picks in the resource space this morning and I’ve included key highlights below. We own Whitehaven Coal (WHC)  & Newcrest (NCM) in the Growth Portfolio +  have had S32 on the radar for a while, although we now prefer to buy the consolidation of the ~$3 breakout. We also own Coronado Coal...

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Alumina (AWC) $1.86

AWC enjoyed a stellar start to the month rallying +4.5% to be the 2nd best performer on the day on noticeably strong volume, there was no specific news post their 1H result the prior week which is often the signal of a “real” move in the offing – MM has been watching AWC in line with our bullish resources outlook and yesterday felt like the cork had...

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Reporting Today (AMA, ALC, AWC, ANN, ASB, BRI, BLD, CBR, EP1, EHE, OSH, MND, SKI, NTO, SCG, SEK, HUB, RDY, REH, KGN, VEA)

Companies reporting today include: AMA Group Ltd. (AMA), Alcidion Group Ltd. (ALC), Alumina Ltd. (AWC), Ansell Ltd. (ANN), Austal Ltd. (ASB), Big River Industries Pty (BRI), Boral Ltd. (BLD), Carbon Revolution Ltd. (CBR), E&P Financial Group Ltd. (EP1), Estia Health Ltd. (EHE), Oil Search (OSH), Monadelphous Group (MND), Spark Infrastructure (SKI), Scentre Group (SGC), Seek (SEK), Hub24 (HUB), ReadyTech (RDY), Reece (REH), Kogan (KGN), Viva Energy (VEA), Nitro (NTO)

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ACTION

AWC
UPDATED 19/10/2021 17:18
MM remains long & bullish AWC
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AWC
UPDATED 12/10/2021 17:42
MM remains bullish and long AWC looking for 20% upside
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AWC
UPDATED 13/09/2021 10:42
MM are Buying AWC in both the Income & Flagship Growth Portfolio’s, allocating 4% around $2.20
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AWC
UPDATED 13/09/2021 08:23
MM likes AWC around $2
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AWC
UPDATED 13/09/2021 08:18
MM is bullish AWC into 2022
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AWC
UPDATED 06/09/2021 08:54
MM sees AWC as a trading buy with stops under $1.70 i.e. less than 9% risk
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AWC
UPDATED 19/03/2021 10:40
MM are selling AWC in the Flagship Growth Portfolio, taking profit & increasing cash around $1.67
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AWC
UPDATED 17/03/2021 09:07
MM is considering taking profit in AWC in our Flagship Growth Portfolio
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AWC
UPDATED 24/02/2021 09:02
MM is watching our AWC position very closely, we’re not married to it!
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AWC
UPDATED 23/02/2021 16:51
We’re more neutral AWC after todays result.
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Alumina miner

Alumina (AWC) owns a 40% stake in the bauxite and alumina operations of global mining group Aloca.

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Alumina (AWC)
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Alumina (AWC)
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Alumina (AWC)
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Alumina Ltd (AWC)
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Alumina (AWC)
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Alumina (AWC)
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