Alumina Limited downgraded by Goldman Sachs to sell

Goldman Sachs cut shares of Alumina Limited from a neutral rating to a sell rating in a research report sent to investors on Tuesday morning.

Goldman Sachs has also modified their ratings on a number of other stocks in the few days. The firm lowered its price target on shares of Lloyds Banking Group PLC from $90.00 to $89.00. They have a neutral rating on that stock. Also, Goldman Sachs lowered its price target on shares of Lloyds Banking Group PLC from GBX 90 ($1.40) to GBX 89 ($1.38). They have a neutral rating on that stock. Finally, Goldman Sachs raised its price target on shares of British American Tobacco plc from GBX 3,170 ($49.20) to GBX 3,230 ($50.13). They have a neutral rating on that stock.

A number of other equities research analysts have also weighed in on the stock. Credit Suisse downgraded shares of Alumina Limited from an outperform rating to a neutral rating in a research report on Tuesday, June 16th. Morgan Stanley lowered Alumina Limited from an overweight rating to an equal weight rating in a research report on Friday, May 29th.

Shares of Alumina Limited traded up 2.13% on Tuesday, reaching $4.31. The company’s stock had a trading volume of 7,000 shares. The firm has a 50 day moving average of $4.57 and a 200 day moving average of $5.21. The company’s market cap is $12.09 billion. Alumina Limited has a 52-week low of $4.13 and a 52-week high of $6.38.

Alumina Limited is an Australia-based mining company. Alumina Limited’s sole business undertaking is in the global alumina and aluminum industry, which it conducts primarily through bauxite mining and alumina refining, with some minor alumina based chemicals businesses, aluminum smelting and the marketing of those products. All of those business activities are conducted through its 40% investment in Alcoa World Alumina & Chemicals. The company was formed on 1 January 1995 by Alumina Limited and Alcoa Inc (Alcoa) combining their respective global bauxite, alumina and alumina-based chemicals business and investments and their respective aluminum smelting operations in Australia.

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