Citi expects lower CY21/22 EPS, dividend for Australia's Alumina

Alumina

21/01/2022 01:44

** Citi sees a reduced forecast for its EPS and dividend in
CY 2021/22 for Alumina Ltd  AWC.AX  on rising caustic costs and
lower spot alumina prices
    ** Brokerage firm retains Alumina stock's target price at
A$1.90 and "neutral" rating
    ** Brokerage expects raw materials and energy costs will
rise $100 mln in the first quarter of 2022, thereby weighing on
earnings
    ** Adds that near-term cost pressures will continue, with
caustic costs on a spot basis now about $51 per tonne but on a
lagged basis 
    ** Five of 10 analysts rate the stock "buy" or higher, five
"hold" and none "sell" or lower; their median PT is A$2.15 –
Refinitiv data
    ** Stock up 1.36% in 2021
    

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))