AWC failed to embrace early 2022’s surge by the Resources Sector and it now finds itself down -28% from its levels posted late last year but it still doesn’t “feel right” even while it’s trading on a depressed valuation and estimated 6.1% yield over the next 12-months. The company has enjoyed strong alumina and aluminium prices over the last few years but the stocks certainly not matched the performance of many sector peers hence it’s not a stock for us at a time we want to be embracing only top quality names i.e. earlier in the year we exited the stock closer to $2 for both of our Flagship Growth and Income Portfolios and have not considered re-entering.
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Thursday 28th March – ASX200 +80pts, All Time High, Retail Sales
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MM is neutral/negative AWC
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