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! This is one to watch for now but if we do see recession fears increase anything is possible for AWC if the overall sector struggles.
- We continue to have no interest in AWC around $1.40 but under $1.20 the valuation would be hard to ignore.
MM is neutral toward AWC around $1.40
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