S&P/ASX 200 Index stock Orica Ltd has slowly climbed back from yearly lows hit in March of this year.
The company manufactures, distributes, and sells commercial blasting systems, explosives, and mining and tunnelling support systems to the mining industry, as well as various chemical products and services in Australia, Canada, the US, and internationally.
The team at Ord Minnett said stronger NaCN pricing and improved plant utilisation could drive returns in the company's chemicals division back towards historical levels and closer to the company's broader target range of 13% to 15%.
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S&P/ASX 200 Index stock Orica Ltd has slowly climbed back from yearly lows hit in March of this year.
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The article, shortened and in plain language
S&P/ASX 200 Index stock Orica Ltd has slowly climbed back from yearly lows hit in March of this year.
Since that time, its share price is up 20%.
The company manufactures, distributes, and sells commercial blasting systems, explosives, and mining and tunnelling support systems to the mining industry, as well as various chemical products and services in Australia, Canada, the US, and internationally.
Lately, there has been concern surrounding the company's North American ammonium nitrate supply arrangements.
Later, this could make it more difficult for Orica to secure new contracts on attractive terms.
The team at Ord Minnett appear less concerned.
The broker said the North American blasting business generated only about 10% of Orica's FY25 operating profit.
The team at Ord Minnett said stronger NaCN pricing and improved plant utilisation could drive returns in the company's chemicals division back towards historical levels and closer to the company's broader target range of 13% to 15%.
Based on the retained price target from Ord Minnett, there is 15% upside for this ASX 200 company.
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The Motley Fool AustraliaThis ASX 200 stock just received a fresh buy rating and is tipped to climb 15%plain
The Motley Fool AustraliaWhy this ASX 200 stock is a compelling buy with 30% upsideplain
The Motley Fool Australia1 ASX dividend stock down 49% I'd buy right nowplain
The Motley Fool Australia2 ASX 200 shares to buy and 1 to sell nowplain
The Motley Fool AustraliaBuy, hold, sell: Coles, NAB, CSL sharesplain
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