Alumina Limited (AWC), Aeropostale, Inc. (ARO), TCF Financial Co. (TCB), Genomic Health, Inc. (GHDX), KB Home (KBH) and First Defiance Financial (FDEF) had ratings and price targets on them adjusted by analysts.
RBS downgraded Alumina Limited (AWC) from a "Buy" rating to a "Hold" rating.
Standpoint Research downgraded Aeropostale, Inc. (ARO) from a "Buy" rating to a "Hold" rating.
Raymond James downgraded TCF Financial Co. (TCB) from a "Market Perform" rating to an "Underperform" rating.
GARP Research downgraded Genomic Health, Inc. (GHDX) from a "Buy" rating to a "Neutral" rating.
MKM Partners downgraded KB Home (KBH) from a "Neutral" rating to a "Sell" rating.
Raymond James downgraded First Defiance Financial (FDEF) from an "Outperform" rating to a "Market Perform" rating.
Showing posts with label Alumina. Show all posts
Showing posts with label Alumina. Show all posts
Tuesday, February 21, 2012
Wednesday, August 11, 2010
Alumina (NYSE:AWC) Profits Soar on Sales Volume and Higher Prices
Alumina Ltd. (NYSE:AWC) had a huge six month, as it soared past the earnings last year in the same half by 11 times, increasing from $4 million to $44 million. Analysts had been expecting $37 million in earnings.
Driving the resurgence were a huge spike in sales volume and surging metal prices.
According to Alumina Chief Executive Officer John Bevan, “Global alumina demand is forecast to grow at 12 percent for 2010 and pricing has improved.”
Alumina is in a joint venture with aluminum giant Alcoa (NYSE:AA) named AWAC, which produces about 25 percent of the world's alumina supply.
In 2010, AWAC is projected to produce close to 15.6 million tons of alumina, a slight downward revision of 200,000 tons.
Going forward, Bevan expects alumina to decouple from the aluminum price and reflect more closely the market where alumina is sold by traders, which now accounts for 40 percent of the overall market.
Under normal and past conditions, alumina prices were set based at a fixed percentage of aluminum prices.
Over the next several years that's expected to change. Bevan says he supports that because the current pricing mechanism doesn't include the costs of production, and that needs to be changed.
Driving the resurgence were a huge spike in sales volume and surging metal prices.
According to Alumina Chief Executive Officer John Bevan, “Global alumina demand is forecast to grow at 12 percent for 2010 and pricing has improved.”
Alumina is in a joint venture with aluminum giant Alcoa (NYSE:AA) named AWAC, which produces about 25 percent of the world's alumina supply.
In 2010, AWAC is projected to produce close to 15.6 million tons of alumina, a slight downward revision of 200,000 tons.
Going forward, Bevan expects alumina to decouple from the aluminum price and reflect more closely the market where alumina is sold by traders, which now accounts for 40 percent of the overall market.
Under normal and past conditions, alumina prices were set based at a fixed percentage of aluminum prices.
Over the next several years that's expected to change. Bevan says he supports that because the current pricing mechanism doesn't include the costs of production, and that needs to be changed.
Saturday, June 19, 2010
Alcoa (NYSE:AA) Starts Work on Saudi Industrial Complex
Billed ultimately as the largest fully integrated aluminum plant, Alcoa and partner, the Saudi Arabian Mining Co, have begun work on the Madden-Alcoa complex, breaking ground on Saturday.
Alcoa said in a statement, "Groundbreaking has now officially begun to pave the way for construction of the smelter and rolling mill that will serve the packaging and other industries."
Partner Maaden said that the goal is to become the "lowest-cost supplier of primary aluminum, alumina and aluminum products."
Included in the complex will be a alumina refinery, aluminum smelter and rolling mill at Ras Al-Zour, along with a bauxite mine at Ba'aitha.
Operations for the rolling mill and smelter are scheduled to start in 2013, with the mine and refinery projected to go onstream in 2014.
The cost of the joint venture between the two companies is $10 billion.
Alcoa said in a statement, "Groundbreaking has now officially begun to pave the way for construction of the smelter and rolling mill that will serve the packaging and other industries."
Partner Maaden said that the goal is to become the "lowest-cost supplier of primary aluminum, alumina and aluminum products."
Included in the complex will be a alumina refinery, aluminum smelter and rolling mill at Ras Al-Zour, along with a bauxite mine at Ba'aitha.
Operations for the rolling mill and smelter are scheduled to start in 2013, with the mine and refinery projected to go onstream in 2014.
The cost of the joint venture between the two companies is $10 billion.
Thursday, May 27, 2010
Aluminum Corp of China (NYSE:ACH), Alumina (NYSE:AWC), and Reliance Steel and Aluminum (NYSE:RS) Soaring Today
Alumina (NYSE:AWC), Reliance Steel Aluminum (NYSE:RS) Aluminum Corp of China (NYSE:ACH) and Alcoa (NYSE:AA) are all soaring today, especially the first three, as a durable goods report implying the industrial sector of the U.S. is continuing to recover, even with the economic concerns over the European sovereign debt crisis and possibility China may cut some imports in an effort to battle inflation.
The aluminum sector has been getting crushed recently, and all the right elements seem to have come together to at least give it a temporary reprieve.
Even without the guarded news, aluminum producers would probably have still did well, as they were due for a rebound, but the data points to at least a neutral situation, which means things could be level for demand, and possible grow a little in the near term.
The aluminum sector has been getting crushed recently, and all the right elements seem to have come together to at least give it a temporary reprieve.
Even without the guarded news, aluminum producers would probably have still did well, as they were due for a rebound, but the data points to at least a neutral situation, which means things could be level for demand, and possible grow a little in the near term.
Wednesday, May 12, 2010
Alumina (NYSE:AWC), Kaiser Aluminum (Nasdaq:KALU), Century Aluminum (Nasdaq:CENX) Could Rise on Demand from Aluminum ETFs
The entire aluminum industry, including companies like Alumina (NYSE:AWC), Kaiser Aluminum (Nasdaq:KALU) and Century Aluminum (Nasdaq:CENX) could all get a much needed boost from the introduction of aluminum ETFs, which would dramatically affect the demand for the metal, as ETFs are backed by the physical holding of aluminum.
Even though these companies may not participate in the providing of aluminum for the ETFs, the price of aluminum will increase, giving a boost to all of them.
This is good news for the industry, which has struggled recently because of the slowing demand for the lightweight metal.
India and China are expected to increase demand this year, and that could help, but if that does happen, and you add to that the new market to supply aluminum to ETFs, and the future has suddenly become much brighter for aluminum producers, as far as it relates to aluminum prices.
Even though these companies may not participate in the providing of aluminum for the ETFs, the price of aluminum will increase, giving a boost to all of them.
This is good news for the industry, which has struggled recently because of the slowing demand for the lightweight metal.
India and China are expected to increase demand this year, and that could help, but if that does happen, and you add to that the new market to supply aluminum to ETFs, and the future has suddenly become much brighter for aluminum producers, as far as it relates to aluminum prices.
Tuesday, May 11, 2010
Citigroup (NYSE:C) Talks Aluminum ETFS
Citigroup (NYSE:C) said today the price of aluminum could soar by as much as $500 a metric ton if plans to introduce aluminum-backed ETF funds comes to fruition. Companies like Alcoa (NYSE:AA), Century Aluminum (Nasdaq:CENX) and Alumina (NYSE:AWC) would be beneficiaries of those increased prices, as would investors in aluminum futures.
If the prices were to rise by that much because of the introduction of aluminum ETFs, it would represent an increase of aluminum prices of just under 25 percent.
Projections by Citigroup are based on aluminum customers from around the world having their aluminum held by an aluminum ETF for a two-week period, which would equal 1.4 million tons.
The price of aluminum has been down as demand has been slow in the difficult economic times.
If the prices were to rise by that much because of the introduction of aluminum ETFs, it would represent an increase of aluminum prices of just under 25 percent.
Projections by Citigroup are based on aluminum customers from around the world having their aluminum held by an aluminum ETF for a two-week period, which would equal 1.4 million tons.
The price of aluminum has been down as demand has been slow in the difficult economic times.
Friday, May 7, 2010
Alcoa (NYSE:AA), Alumina (NYSE:AWC) AWAC $11 Billion Value
The joint venture between Alcoa (NYSE:AA) and Alumina (NYSE:AWC), which Alumina holds a 40 percent share in, may have a value up to $11 billion, according to Alumina chairman Don Morley.
I'm not sure about all that, as the value of AWAC alone with the 40 percent share of Alumina would value the company higher than the current $4 billion it is, including all its assets.
At that value, Alumina could be a takeover targer for Alcoa, although the company says the improving price of aluminum should improve the valuation of Alumina as earnings increase.
I'm not sure about all that, as the value of AWAC alone with the 40 percent share of Alumina would value the company higher than the current $4 billion it is, including all its assets.
At that value, Alumina could be a takeover targer for Alcoa, although the company says the improving price of aluminum should improve the valuation of Alumina as earnings increase.
Wednesday, May 5, 2010
Alcoa (NYSE:AA), Alumina (NYSE:AWC), BHP (NYSE:BHP), Want to Change Alumina Pricing Model
As the spot market for alumina grows, aluminum producers like Alcoa (NYSE:AA), Alumina (ASX:AWC) (NYSE:AWC) and BHP (ASX:BHP) (NYSE:BHP) want the pricing model to reflect those changes.
Under the current alumina pricing model, alumina prices are set at a fixed percentage of aluminum prices, which for contracts in 2010 stand at close to 15 percent.
What the aluminum producers want is something similar to the iron ore pricing changes, where they better mirror the supply and demand realities, along with costs.
Alcoa is pushing for a new pricing system where an index is created which would be based on spot transactions.
Under the current alumina pricing model, alumina prices are set at a fixed percentage of aluminum prices, which for contracts in 2010 stand at close to 15 percent.
What the aluminum producers want is something similar to the iron ore pricing changes, where they better mirror the supply and demand realities, along with costs.
Alcoa is pushing for a new pricing system where an index is created which would be based on spot transactions.
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