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Alumina (AWC)

$2.30 UPDATED 19/10/2021 09:17

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MM remains long & bullish AWC

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OPINION

19/10/2021 09:28

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:

18/10/2021 09:28

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...

12/10/2021 09:42

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.

13/09/2021 12:11

Flagship Growth Portfolio – Amendments

We are selling MND & Buying AWC in the Growth Portfolio Today

13/09/2021 12:07

Active Income Portfolio – Amendments

We are reducing Telstra (TLS) in the portfolio today to make room for a new purchase.

10/09/2021 09:42

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.

09/09/2021 09:27

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...

07/09/2021 17:07

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...

02/09/2021 09:35

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...

24/08/2021 08:07

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)