Noranda Aluminum Holding Corp. Receives “Neutral” Rating from Jefferies Group

Noranda Aluminum Holding Corp.‘s stock had its “neutral” rating reaffirmed by Jefferies Group in a research note issued on Monday, Stock Ratings Network.com reports. They currently have a $4.25 price target on the stock, down from their previous price target of $4.75. Jefferies Group’s target price suggests a potential upside of 30.77% from the stock’s previous close.

The analysts wrote, “We mark to market our 2Q13 estimates for NOR, with one-month lagged aluminum prices lower than expected at $0.84/lb (compared to $0.91/lb estimate), lowering our estimate to a loss of $0.08 from a profit of $0.01. This lowers our 2013E EPS to $0.06 from $0.13. Our forward estimates remain unchanged.”

Noranda Aluminum Holding Corp. traded up 2.46% on Monday, hitting $3.33. Noranda Aluminum Holding Corp. has a 52-week low of $3.16 and a 52-week high of $7.85. The stock’s 50-day moving average is currently $3.83. The company has a market cap of $226.1 million and a price-to-earnings ratio of 6.62.

Noranda Aluminum Holding Corp. last announced its earnings results on Wednesday, April 24th. The company reported ($0.02) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.06) by $0.04. The company had revenue of $338.40 million for the quarter, compared to the consensus estimate of $339.47 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, analysts predict that Noranda Aluminum Holding Corp. will post $-0.37 earnings per share for the current fiscal year.

NOR has been the subject of a number of other recent research reports. Analysts at Morgan Stanley downgraded shares of Noranda Aluminum Holding Corp. from an “equal weight” rating to an “underweight” rating in a research note to investors on Tuesday, June 25th. Separately, analysts at Zacks upgraded shares of Noranda Aluminum Holding Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, June 20th. They now have a $3.90 price target on the stock. Finally, analysts at TheStreet upgraded shares of Noranda Aluminum Holding Corp. from a “sell” rating to a “hold” rating in a research note to investors on Thursday, May 16th.

One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Noranda Aluminum Holding Corp. has an average rating of “Hold” and an average price target of $4.83.

Noranda Aluminum Holding Corporation is a North American integrated producer of aluminum products and rolled aluminum coils.