Orica ends 2023 with a bang: Acquires Canadian company for over half a billion dollars
Explosives manufacturer Orica concluded its 2023 on a high note with the acquisition of a Canadian company for more than half a billion dollars.
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Orica’s results spark enthusiasm
Investors showed increased enthusiasm for Orica (ASX:ORI), the explosives and chemicals group, following the release of its 2022-23 results on Thursday. The highlight was a 23% boost to dividends.
Read MoreOrigin secures $70m grant for Hunter Valley Hydrogen
13 Jul 2023 – Origin Energy (ASX:ORG) is set to receive $70 million in funding from the Federal Government for its proposed Hunter Valley Hydrogen Hub partnership with Orica (ASX:ORI).
Read More1H23 Goes Off with a Bang for Orica
A big half year for explosives and ammonia group Orica, with revenue, underlying earnings and the company’s interim dividend all up more than 30%.
Read MoreOrica Remains Unwavering in its Self-Belief
Despite worries about economic growth around the world next year, Orica expects the confident forecast for its FY2022-23 made a couple of months ago will still be met.
Read MoreStrong Result Puts a Rocket up Orica Shares
Orica is confident that the 2022-23 year will be better than the one just ended on September 30, despite worries about higher energy costs, inflation and slowing global activity.
Read MoreOrica Goes All Geospatial with Axis Deal
Orica will pay $A260 million in cash to buy Axis Mining Technology, a specialised geospatial tool which will help miners explore, extract and refine material from “mine to mill.”
Read MoreORI – Citi rates the stock as Neutral
The broker remains Neutral on Orica. Target is reduced to $16.20 from $16.40.
Read MoreORI – Morgans rates the stock as Hold
The broker’s target price rises to $16.20 from $14.89. The Hold rating is unchanged.
Read MoreTrend Orica’s Friend as Shares Bounce Despite Loss
Despite reporting a net loss for the half, Orica’s 2021-22 interim was immediately cheered with the share price up 8% as investors chose to look longer-term and liked what they saw.
Read MoreNo Alarms and No Surprises from Orica
Explosives and chemicals group Orica is sticking with the upbeat (though non-specific) outlook for its 2021-22 financial year ahead of the ending of its first half on March 31.
Read MoreOrica Finally Climbs out of Minova Money Pit
The market breathed a sigh of relief yesterday on news that Orica had finally offloaded Minova, which had haunted the company’s balance sheet for a decade and a half.
Read MoreOrica Believes the Worst is Behind It
Writedowns and difficult market conditions saw Orica turn in a loss for the year but directors see the solid rebound in the second half continuing into the current 2021-22 period.
Read MoreORI – Credit Suisse rates the stock as Neutral
Credit Suisse is constructive regarding Orica yet downgrades to Neutral from Outperform ahead of the FY21 result. The broker upgrades the target to $17.23 from $16.11.
Read MoreORI – Credit Suisse rates the stock as Outperform
The broker retains its Outperform rating and lifts its target price to $16.11 from $15.66.
Read MoreORI – Morgans rates the stock as Hold
The business is considered well-positioned over the medium term and a Hold rating is maintained. Target is reduced to $13.65 from $14.56.
Read MoreORI – Credit Suisse rates the stock as Outperform
The broker believes the market is underestimating the likely strength of a recovery in profit from the second half. Outperform maintained. Target is reduced to $15.66 from $16.47.
Read MoreOrica Blows It, Cuts Dividend by More than Half
Orica, the country’s biggest explosives maker, has backed up a downgrade issued in late February by cutting its interim dividend by more than half after earnings fell 54%.
Read MoreORI – Credit Suisse rates the stock as Outperform
Outperform rating with a target of $16.84.
Read MoreBad News Comes in Threes for Orica
The trifecta for explosives and mining services group Orica on Friday-but not a winning one, as investors took to the shares with the long stick in Friday trade.
Read MoreDo Fundamentals Matter? (Part 2)
Anton Tagliaferro and Phillip Gray from Investors Mutual follow up their earlier article with some further insights into whether or not fundamentals still matter.
Read MoreOrica Halves Dividend As South American Shutdowns Hit Bottom Line
Explosives manufacturer Orica has chopped its final dividend in half after a 31% slide in full-year statutory net profit, thanks to the impact of COVID on mining activities across many countries such as Peru and Chile.
Read MoreIs The Sharemarket Correctly Pricing In Fundamentals?
Anton Tagliaferro and Daniel Moore analyse the fundamentals of Amcor, Brambles and Orica and seek to provide an objective insight into the ‘blue sky’ being factored into Afterpay’s share price.
Read MoreOrica Flags Profit Hit On Top Of Plant Shutdowns
Explosives maker Orica is closing production at three North American plants under its global rationalisation policy, has warned of the closure of more facilities, and has forecast $170 million (pre-tax) of significant items in its upcoming full-year results.
Read MoreWhy Earning Income from Shares Has Taken on Extra Significance
Looking back over 35 years of investing, I never thought that I would ever see the day in Australia where interest rates are as low as they are today.
Read MoreFirm Outlook For Orica Despite Mine Closures
Orica has reduced the first-half dividend pay-out ratio to 40%, amid the pandemic uncertainty, although brokers assess the second half should reflect a return to better conditions.
Read MoreWho (Eventually) Benefits From The New Oil Shock
In more normal times – and nothing is normal at the moment – low oil prices benefit the global economy and stocks such as manufacturers and transport companies. Tim Boreham outlines those Australian companies which stand to benefit from significantly lower energy prices.
Read MoreORI – Macquarie rates the stock as Neutral
FY19 net profit was ahead of expectations. Macquarie liked the positive growth outlook, particularly in the context of a challenging earnings backdrop in the broader market.
Read More“Gaining Traction”: Upbeat Orica Back In The Black
A “positive” outlook for ”2020 and beyond” from explosives and mining services Group Orica after it revealed a 15% rise in full-year profit for the 12 months to September 30.
Read MoreORI – UBS rates the stock as Neutral
The broker’s satellite monitoring of the Burrup plant rebuild indicates works have commenced and appear to be tracking to schedule. Monitoring will continue.
Read MoreMining Services Companies Follow The Major Miners
A collection of mining services companies beginning to experience some attractive breakouts that point to these flow-on affects from mining activity translating to a sustained increase in earnings.
Read MoreORI – Credit Suisse rates the stock as Neutral
Credit Suisse found the increasing evidence of the uptake of technology and improved manufacturing reliability were favourable highlights of the company’s strategy update.
Read MoreORI – Citi rates the stock as Upgrade to Neutral from Sell
First-half results have cleared any doubts about the company’s operating leverage, Citi acknowledges. Strong growth was driven by higher volumes, improved product mix, and better manufacturing. Market conditions are improving and price/cost headwinds fading.
Read MoreSolid Mining Demand Spurs An Upbeat Orica
A good interim result from explosives maker Orica saw the shares jump yesterday to a new 12 month high as it took the opportunity to boost interim dividend 10%.
Read MoreORI – Deutsche Bank rates the stock as Hold
The company has made a -$155m write-down to Burrup. Deutsche Bank considers the non-cash adjustments of -$191m to be a minor negative as these highlight the ongoing earnings risk associated with the commissioning of the plant.
Read MoreOrica Confirms Burrup Hiccup With $191m Write-down
Confession time for Orica ahead of the release of its interim results on May 9 with news of a big write-down in the value of its interest in a big chemical plant in WA.
Read MoreNews Shorts: Mixed Reception For CSR, Orica Results
A mixed reaction from investors to earnings reports from building products group, CSR and from explosives maker, Orica which didn’t set the market afire on Friday.
Read MoreOrica Swings To H1 Loss On Operational Issues
As it warned in early March explosives and mining services group, Orica slumped to a weaker-than-expected $229.3 million half year loss after suffering several bouts of unplanned maintenance and reporting $353 million worth of impairments and provisions.
Read MoreImpairments Implode Orica Result
Shares in explosives manufacturer Orica slumped to three month lows yesterday after the company surprised the market with news of problems at a brand new ammonium nitrate facility in Western Australia, unplanned maintenance and close to $300 million of impairments and provisions on other parts of the business.
Read MoreEnergy Costs Dim Orica Outlook
Shares in Orica fell 12% on Monday after the explosives and chemicals supplier reported weak full-year earnings, trimmed its final dividend and forecast a tough outlook for the coming year as improvements demand for explosives and its other products are slow to have an impact on its revenue and profit and loss account.
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