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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Orocobre Limited    ORE   AU000000ORE0

OROCOBRE LIMITED

(ORE)
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End-of-day quote. End-of-day quote Australian Stock Exchange - 10/26
2.69 AUD   +0.75%
11:14aOROCOBRE LIMITED : - Olaroz Operational Update
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10/25OROCOBRE LIMITED : Olaroz Operational Update
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10/25OROCOBRE : Operational Update - ASX-Announ-Operational update-FINAL.pdf
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Australia's Orocobre posts 27% drop in lithium output from Argentina project

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07/29/2020 | 09:33pm EDT

July 30 (Reuters) - Orocobre Ltd said on Thursday quarterly production fell 27% at its flagship Olaroz mine, and the Australian lithium miner brought forward a planned maintenance for the Argentinian project due to a spike in COVID-19 cases at nearby operations.

Production from the Olaroz plant for the June quarter came in at 2,732 tonnes, down from 3,455 tonnes last year, due to a temporary shutdown put in place following coronavirus-related restrictions.

While operations have continued with a limited workforce, new COVID-19 infections have emerged at nearby operations and in some local communities, the Brisbane-based company said, adding that average prices for its lithium carbonate dropped 19% to $3,913 per tonne on-quarter.

Orocobre said while the global lithium market has suffered a setback due to the coronavirus crisis, the medium- to long-term outlook remains positive, owing to an increase in government regulation and funding.

"The pandemic has delivered accelerated investment by some jurisdictions into electric transportation which should have medium- to long-term benefits but it remains unclear when this will be reflected in lithium chemical prices," the company said in a statement.

The miner also expects to book a non-cash impairment charge of about $28 million before tax in its annual results related to an acquisition and write-downs in finished goods and brine inventory.

(Reporting by Arpit Nayak in Bengaluru, Editing by Sherry Jacob-Phillips)


Stocks mentioned in the article
ChangeLast1st jan.
EURO / ARGENTINE PESO (EUR/ARS) 0.10% 92.4196 Delayed Quote.38.06%
OROCOBRE LIMITED 0.75% 2.69 End-of-day quote.1.51%
US DOLLAR / ARGENTINE PESO (USD/ARS) 0.00% 78.17 Delayed Quote.30.50%
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Financials
Sales 2021 107 M 76,6 M 76,6 M
Net income 2021 -30,2 M -21,5 M -21,5 M
Net Debt 2021 137 M 97,8 M 97,8 M
P/E ratio 2021 -28,9x
Yield 2021 -
Capitalization 925 M 659 M 660 M
EV / Sales 2021 9,89x
EV / Sales 2022 5,18x
Nbr of Employees 548
Free-Float 97,2%
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Technical analysis trends OROCOBRE LIMITED
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 2,81 AUD
Last Close Price 2,69 AUD
Spread / Highest target 59,9%
Spread / Average Target 4,45%
Spread / Lowest Target -27,5%
EPS Revisions
Managers
NameTitle
Martín Pérez de Solay Chief Executive Officer, MD & Director
Robert Hubbard Non-Executive Chairman
Hersen Porta Chief Operating Officer
Neil Kaplan Chief Financial Officer & Joint Secretary
Richard Phillip Seville Non-Executive Director
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