FNARENA'S MARKET CONSENSUS FORECASTS
TITLE FY19
ACTUALFY20
ACTUALFY21
FORECASTFY22
FORECAST1 EPS (cps) 4.9 5.7 5.5 5.5 2 DPS (cps) 0.0 3.0 2.6 2.6 3 EPS Growth N/A 15.9% - 2.6% - 0.5% 4 DPS Growth N/A N/A - 12.9% 0.0% 5 Div Pay Ratio(%) 0.0% 52.6% 47.0% 47.3% This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.Last ex-div: 07/09 - 1c (0%)
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2021 FactSet UK Limited. All rights reserved
TITLE 2017 2018 2019 2020 EPS Basic -0.4 -0.3 4.8 8.2 DPS All 0.0 0.0 0.0 3.0 Sales/Revenue 11.4 M 17.5 M 679.4 M 760.4 M EPS Basic
2017201820192020-137DPS All
20172018201920200123Sales/Revenue
20172018201920200200400600800This is work in progress. Bear with us. It'll be amazing.
NegativeGrowthSlowingEXPERT VIEWS
Display All CommentarySentiment Indicator
0.7No. Of Recommendations
3
BROKER DATE RATING RECOMMENDATION Macquarie
28/04/2021
1
Outperform
- TARGET PRICE
$1.30
- % TO REACH TARGET
20.37%
- COMMENTARY
First quarter results were weaker than expected. Macquarie cuts realised prices by -4% to better reflect pricing trends.
Nevertheless, the company is set to double production over the next three years and the broker notes it is trading on free cash flow yields of above 10% from 2023.
Outperform rating maintained. Target is cut to $1.30 from $1.50.
FORECAST
Macquarie forecasts a full yearFY21dividend of3.57cents and EPS of7.13cents.
Macquarie forecasts a full yearFY22dividend of3.57cents and EPS of7.13cents.Citi
28/04/2021
3
Neutral
- TARGET PRICE
$1.50
- % TO REACH TARGET
38.89%
- COMMENTARY
December quarter nickel production of 10.07kt was -4% below Citi's expectation, due to a power outage from a seismic event and labour availability. Cash costs of US$8683/t were 7% higher than expected though ore pricing came in US$2/t above the analyst's estimate.
Weighted realised pricing of US$13600/t was a -77% discount to LME. Citi appreciates NPI pricing is negotiated at arms-length though doesn't view the removal of the floor pricing agreement with Tsingshan as beneficial to shareholders. Neutral rating and $1.50 target.
FORECAST
Citi forecasts a full yearFY21dividend of2.74cents and EPS of9.19cents.
Citi forecasts a full yearFY22dividend of2.74cents and EPS of7.68cents.Credit Suisse
28/04/2021
1
Outperform
- TARGET PRICE
$1.50
- % TO REACH TARGET
38.89%
- COMMENTARY
Production in the March quarter of 10,100t was in line with Credit Suisse estimates. Increased costs amid changes to ore pricing contracts and a higher nickel price added to operating expenditure being 15% ahead of the December quarter.
The impact on cash margins was amplified by a decline in the realised nickel price to US$13,600/t. Still, the company's structurally low-cost position should sustain margins and cash flow under a range of nickel price scenarios, the broker suggests.
Outperform with a target of $1.50.
FORECAST
Credit Suisse forecasts a full yearFY21dividend of5.49cents and EPS of6.43cents.
Credit Suisse forecasts a full yearFY22dividend of5.49cents and EPS of7.82cents.
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91.0¢ |
Change
0.015(1.68%) |
Mkt cap ! $3.903B |
Open | High | Low | Value | Volume |
90.0¢ | 92.0¢ | 89.3¢ | $5.583M | 6.145M |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 10410 | 91.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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91.5¢ | 87257 | 5 |
View Market Depth
No. | Vol. | Price($) |
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7 | 45849 | 0.900 |
2 | 41635 | 0.895 |
3 | 36685 | 0.890 |
3 | 69635 | 0.885 |
3 | 24949 | 0.880 |
Price($) | Vol. | No. |
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0.915 | 10929 | 1 |
0.920 | 141089 | 7 |
0.925 | 76514 | 5 |
0.930 | 35143 | 4 |
0.935 | 44724 | 4 |
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