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crashbandicootfreeonline| Big Bank Rating| Macquarie: Lowering Tianqi Lithium's target price to HK$41.1 and still giving it an "outperform" rating

Decor 2024年05月08日 14:01 13 editor

Macquarie published a research report that Tianqi Lithium Industry (002466) recorded a significant loss in the first quarter of 2024, mainly due to its subsidiary Chile Chemical Mining Company (SQM).CrashbandicootfreeonlineThe impact of one-off tax write-offs and the pressure on the company's profit margins caused by the high inventory of spodumene. The bank expects the impact of the company's high inventory prices to fade in the second half of this year as Tianqi Lithium changes its spodumene purchases to monthly pricing. The bank said growth in lithium demand from Essential Metals Limited, the Australian lithium exploration company, remained very strong so far this year. Strong lithium demand also continues to drive lithium inventories down. The bank expects upside risks to lithium prices in the future because of potential strong downstream demand. In addition, Macquarie cut its net profit forecasts for 2024 and 2025 by 99 per cent and 70 per cent, respectively. Mainly based on the decline in profits of Australian mining company IGO Limited, one-off tax write-off in the first quarter of this year, hypothetical lithium price decline and other factors. Considering the above factors, the bank raised the target price of Tianqi Lithium H shares from 48.Crashbandicootfreeonline.5 was downgraded to HK $41.1, giving it an "outperform" rating.

crashbandicootfreeonline| Big Bank Rating| Macquarie: Lowering Tianqi Lithium's target price to HK.1 and still giving it an "outperform" rating

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