11 JULY 2013zolmax.com
Noranda Aluminum Holding Corp.’s “Neutral” Rating Reaffirmed at Jefferies Group
Edited by : AL CIRCLE
2 min read
Jefferies Group restated their neutral rating on shares of Noranda Aluminum Holding Corp. in a report issued on Monday, StockRatingsNetwork.com reports. They currently have a $4.25 target price on the stock, down from their previous target price of $4.75.
“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.,” the firm’s analyst commented.
Other equities research analysts have also recently issued reports about the stock. 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 issued a hold rating to the company. The company currently has a consensus rating of Hold and an average target price of $4.83.
Noranda Aluminum Holding Corp.opened at 3.30 on Monday. Noranda Aluminum Holding Corp. has a 1-year low of $3.16 and a 1-year high of $7.85. The stock’s 50-day moving average is currently $3.78. The company has a market cap of $224.0 million and a price-to-earnings ratio of 6.72.
Noranda Aluminum Holding Corporation is a North American integrated producer of aluminum products and rolled aluminum coils.
“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.,” the firm’s analyst commented.
Other equities research analysts have also recently issued reports about the stock. 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 issued a hold rating to the company. The company currently has a consensus rating of Hold and an average target price of $4.83.
Noranda Aluminum Holding Corp.opened at 3.30 on Monday. Noranda Aluminum Holding Corp. has a 1-year low of $3.16 and a 1-year high of $7.85. The stock’s 50-day moving average is currently $3.78. The company has a market cap of $224.0 million and a price-to-earnings ratio of 6.72.
Noranda Aluminum Holding Corporation is a North American integrated producer of aluminum products and rolled aluminum coils.
Previous article
Iran's aluminium ingot production grows 5.4 per cent
Next articleSMM Morning Review: LME aluminum should move within USD 1,815-1,845/mt on 12th July
Grow with
AL Circle
