We're Raising Our FVE to AUD 1 for AWC Amid Higher Near-Term Alumina Prices
Having updated our valuation model to reflect Alumina’s performance in the first half of 2017, we are increasing our fair value estimate to AUD 1.00 per share from AUD 0.95. The adjustment is driven by lower-than-expected operating costs and an increase to our near-term outlook for alumina prices. During the first half of 2017, the price of alumina averaged roughly USD 325 per tonne, up sharply from USD 230 in the prior-year period. Alumina's shares have risen on optimism that higher alumina pri...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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