Aluminum Corp. of China Likely to See Short-Term Profit Taking -- Market Talk

Dow Jones

2024-10-30

0414 GMT - Aluminum Corp. of China's shares are likely to be weighed by some profit taking in the short term following its disappointing earnings, Citi Research analysts write in a report. Net profit for January-September period fell short of Citi's estimates by 31%. The 3Q gross profit also fell sequentially. However, Citi retains a buy rating on the stock, noting bright spots in the sequential rise in aluminum production and sales in the third quarter, and its strong free cash flow. Citi trims its target price for the company's H shares to HK$8.89 from HK$9.09 after revising down its 2024 earnings forecast by 12%. (kimberley.kao@wsj.com)

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October 30, 2024 00:14 ET (04:14 GMT)

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Net profit for January-September period fell short of Citi's estimates by 31%. The 3Q gross profit also fell sequentially. However, Citi retains a buy rating on the stock, noting bright spots in the sequential rise in aluminum production and sales in the third quarter, and its strong free cash flow. Citi trims its target price for the company's H shares to HK$8.89 from HK$9.09 after revising down its 2024 earnings forecast by 12%. 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Net profit for January-September period fell short of Citi's estimates by 31%. The 3Q gross profit also fell sequentially. However, Citi retains a buy rating on the stock, noting bright spots in the sequential rise in aluminum production and sales in the third quarter, and its strong free cash flow. Citi trims its target price for the company's H shares to HK$8.89 from HK$9.09 after revising down its 2024 earnings forecast by 12%. 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Net profit for January-September period fell short of Citi's estimates by 31%. The 3Q gross profit also fell sequentially. However, Citi retains a buy rating on the stock, noting bright spots in the sequential rise in aluminum production and sales in the third quarter, and its strong free cash flow. Citi trims its target price for the company's H shares to HK$8.89 from HK$9.09 after revising down its 2024 earnings forecast by 12%. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"601600":"中国铝业","BK1513":"稀土概念","BK1592":"有色金属","BK0183":"MSCI概念","02600":"中国铝业","BK0006":"大央企重组","BK0233":"有色加工","BK0012":"证金概念","BK0196":"行业龙头","BK1175":"铝","BK1568":"钢铁金属股","BK0188":"融资融券","BK0010":"央企","BK0028":"国家队"},"translate_title":"中国铝业可能出现短期获利回吐——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"601600":0.9,"02600":0.9},"content_text":"0414 GMT - Aluminum Corp. of China's shares are likely to be weighed by some profit taking in the short term following its disappointing earnings, Citi Research analysts write in a report. Net profit for January-September period fell short of Citi's estimates by 31%. The 3Q gross profit also fell sequentially. However, Citi retains a buy rating on the stock, noting bright spots in the sequential rise in aluminum production and sales in the third quarter, and its strong free cash flow. Citi trims its target price for the company's H shares to HK$8.89 from HK$9.09 after revising down its 2024 earnings forecast by 12%. (kimberley.kao@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 30, 2024 00:14 ET (04:14 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}