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    002466   CNE100000T32

TIANQI LITHIUM CORPORATION

(002466)
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Australian shares track Wall St higher on economic recovery hopes

06/21/2021 | 09:28pm EDT

June 22 (Reuters) - Australian shares were set for their biggest gain in nearly three months on Tuesday, tracking an overnight rally on Wall Street, as investors snapped up value stocks that are expected to outperform along with an economic recovery.

The S&P/ASX 200 index rose 1.2% to 7,322.20 by 0114 GMT, on track for its best day since March 31.

Elsewhere, Japan's Nikkei added 2.4% and S&P 500 E-minis futures were up 0.1%.

U.S. stocks jumped on Monday as investors bought into beaten-down value stocks, in a stark reversal from last week when the Fed's hawkish signals on monetary policy sparked a round of steep profit-taking.

Among individual shares and sectors, energy stocks advanced 1.7% and were set to snap a three-day losing streak. Heavyweight Santos added 2.8%.

Financials gained 1.7%, with the so-called "Big Four" banks adding between 1.1% and 2.4%.

Heavyweight miners climbed 1.6%, with BHP and Rio Tinto rising 2.1% and 1.8%, respectively.

Brokerage UBS, however, downgraded Rio Tinto's stock to "sell" despite strong current free cash flow and expected shareholder returns, as it expects a hit to iron ore prices from a hawkish Fed and tighter Chinese control on commodity prices.

The gold subindex climbed as much as 2%, eyeing its best day since June 11.

Gold miner IGO was the ASX200's top gainer, after it said regulatory requirements for the internal restructure of the Australian arm of China's Tianqi Lithium to proceed were now satisfied. IGO plans to invest A$1.4 billion into the local unit.

Investment firm Washington H. Soul Pattinson and Co Ltd said it would buy peer Milton for A$4.05 billion, sending the latter's shares up nearly 17%.

New Zealand's benchmark S&P/NZX 50 index rose 0.4% at 12,544.65. ($1 = 1.3280 Australian dollars) (Reporting by Vasudha Kaukuntla in Bengaluru; editing by Uttaresh.V)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP 0.30% 53.49 End-of-day quote.26.07%
IGO LIMITED 3.67% 9.31 End-of-day quote.45.92%
SANTOS LIMITED -1.07% 6.45 End-of-day quote.2.87%
TIANQI LITHIUM CORPORATION 10.01% 104.23 End-of-day quote.165.42%
WASHINGTON H. SOUL PATTINSON AND COMPANY LIMITED -0.40% 32.65 End-of-day quote.8.51%
All news about TIANQI LITHIUM CORPORATION
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07/05Hyundai Motor to invest $100 million in battery startup SolidEnergy Systems -..
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07/02AUTOHOME : Chief Financial Officer Jun Zou to Step Down
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07/02China's first exchange-traded lithium contract to launch on July 5
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06/30TIANQI LITHIUM : Closes $1.4 Billion Asset Sale to Australia's IGO
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06/21TIANQI LITHIUM : Nears Deal to Sell Stake in Australian Lithium Project to IGO; ..
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06/21Australian shares track Wall St higher on economic recovery hopes
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06/21TIANQI LITHIUM : China's Tianqi Lithium inches nearer to Australian stake sale c..
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05/07Lithium producers grow bullish as EV revolution turbocharges demand
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04/28FENG LI : China's Ganfeng Lithium first-quarter profit surges, helped by higher ..
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More news
Financials
Sales 2021 5 377 M 832 M 832 M
Net income 2021 559 M 86,6 M 86,6 M
Net Debt 2021 20 091 M 3 110 M 3 110 M
P/E ratio 2021 285x
Yield 2021 -
Capitalization 154 B 23 826 M 23 829 M
EV / Sales 2021 32,4x
EV / Sales 2022 24,0x
Nbr of Employees 1 644
Free-Float 63,9%
Chart TIANQI LITHIUM CORPORATION
Duration : Period :
Tianqi Lithium Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TIANQI LITHIUM CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 104,23 CNY
Average target price 57,96 CNY
Spread / Average Target -44,4%
EPS Revisions
Managers and Directors
Wei Ping Jiang Chairman & President
Jun Zou Chief Financial Officer & Director
Jin Yan Chairman-Supervisory Board
Kun Lun Du Independent Director
Ying Pan Independent Director
Sector and Competitors