We forecast lower long-term profits for no-moat Alumina Limited.
On Oct. 3, Norsk Hydro announced plans to fully curtail the Alunorte alumina production facility in Brazil. Alunorte, which is the world's largest alumina refinery, had been running at 50% of capacity since March 2018 due to an environmental dispute with the Brazilian government. Additionally, Hydro will shut down the nearby Paragominas bauxite mine, which supplied bauxite to Alunorte. Although management did not provide a timeline for when production may resume, we expect the situation to be fu...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.
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.
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