CIMB Securities rates AWC

CIMB Securities rates AWC as Add

Friday, June 6, 2014 - 10:39

June 6, 2014
There has been a sharp decline in China's imports of bauxite and a commensurate rise in alumina imports as expected in the wake of the Indonesian ore export bans. Prices are expected to rise in the second half as the alumina market tightens.
CIMB expects the AWAC joint venture's earnings to expand to US$80/t in 2015. The broker retains an Add rating and $1.95 target.
Target price is $1.95 Current Price is $1.44 Difference: $0.51
If AWC meets the CIMB Securities target it will return approximately 35% (excluding dividends, fees and charges).
The company's fiscal year ends in December. CIMB Securities forecasts a full year FY14 dividend of 5.43 cents and EPS of 5.43 cents. At the last closing share price the estimated dividend yield is 3.77%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.50.This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values

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