Hydro Takes Another Step Toward Full Production at Alunorte Alumina Facility; Shares Fairly Valued
Norsk Hydro shares rallied on March 27 on speculation that the company's Alunorte alumina refinery might resume operations in the near future. As we wrote in earlier updates, this is consistent with our prior view. We'd be surprised if the production embargo remains in place beyond the first half of this year. Even after today's rally, Hydro shares are trading roughly in line with our unchanged NOK 34 per share fair value.Our no-moat rating is unchanged. Hydro continues to operate toward the lo...
Alumina is engaged the business of the global bauxite, alumina and aluminium industry, which it conducts primarily through bauxite mining and alumina refining. All of those business activities are conducted through its 40% investments in Alcoa World Alumina and Chemicals ("AWAC"). Co.'s equity interests in AWAC forms a reportable segment.
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