Australia's Orica falls as Citi, Jefferies cut PT

ORICA

11/03/2026 24:06

Updates with share moves

** Shares of Orica ORI.AX down as much as 2.4% at A$20.42, hitting their lowest level since July 14, 2025

** Analysts at Jefferies say co's cashflow impacts are disappointing, while Citi says the market is "rightly concerned" with respect to additional supply costs for the mining explosives producer

** Citi lowers PT to A$25.05/shr; Jefferies cuts PT to A$25.73/shr from A$28.50/shr

** Jefferies and Citi, however, say underlying conditions remain supportive for company and industry

** Citi lowers PT on lower valuation to reflect headwinds with respect to North American supply disruption

** Jefferies says poor cash guide raises questions about earnings quality

** ORI flagged net impact of significant items in H1 2026 as a reduction in statutory net profit after tax of between A$45 mln and A$60 mln ($42.92 mln) on Tuesday

** Including the day's moves, shares down 15.4% YTD

($1 = 1.3978 Australian dollars)

(Reporting by Shivangi Lahiri in Bengaluru)

((shivangi.lahiri@thomsonreuters.com))