Chalco will continue to have meagre profitability amid low aluminum prices.
No-moat Aluminum Corporation of China, or Chalco, reported first-half net profit of CNY 751 million, a significant improvement from CNY 68 million a year ago. Although earnings still fell short of our expectations, we expect Chalco’s near-term share price to be supported by a stronger second-half outlook due to supply-side reform in the aluminum sector. We cut our 2017 net profit forecast by 36% to take into account higher operating costs. Accordingly, we lower our fair value estimate to USD 2.8...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.