Price Target Changed • Apr 08
Price target increased to AU$3.64 Up from AU$3.36, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of AU$3.65. The company is forecast to post earnings per share of AU$0.14 next year compared to a net loss per share of AU$0.027 last year. Major Estimate Revision • Apr 06
Consensus EPS estimates increase by 26% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from AU$368.5m to AU$378.1m. EPS estimate increased from AU$0.10 to AU$0.12 per share. Net income forecast to grow 64% next year vs 34% growth forecast for Metals and Mining industry in Australia. Consensus price target up from AU$3.36 to AU$3.51. Share price was steady at AU$3.65 over the past week. Reported Earnings • Feb 23
First half 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First half 2022 results: EPS: AU$0.058 (up from AU$0.043 loss in 1H 2021). Revenue: AU$182.0m (up 48% from 1H 2021). Net income: AU$18.8m (up AU$30.7m from 1H 2021). Profit margin: 10% (up from net loss in 1H 2021). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates. Over the next year, revenue is forecast to grow 3.0%, compared to a 742% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Feb 15
Western Areas Limited to Report First Half, 2022 Results on Feb 22, 2022 Western Areas Limited announced that they will report first half, 2022 results on Feb 22, 2022 Price Target Changed • Jan 28
Price target increased to AU$3.29 Up from AU$3.07, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of AU$3.43. The company is forecast to post earnings per share of AU$0.092 next year compared to a net loss per share of AU$0.027 last year. Announcement • Dec 07
IGO, Western Areas Quietly Talk Takeover A potential takeover between IGO Limited (ASX:IGO) and Western Areas Limited (ASX:WSA) could still be on the table after the companies notified an otherwise uninformed market that discussions and due diligence were "continuing". Preliminary talks between the nickel miners were first confirmed in August however the companies said there was no certainty on whether a transaction would eventuate. Updates on the transaction have been few and far between since then. "While IGO does not comment on media speculation, the company confirms that discussions and due diligence are continuing," IGO said in an ASX release. "There is no certainty that a definitive transaction will result once this period of diligence is complete". Reported Earnings • Aug 26
Full year 2021 earnings released: AU$0.027 loss per share (vs AU$0.12 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: AU$257.2m (down 17% from FY 2020). Net loss: AU$7.71m (down 124% from profit in FY 2020). Production and reserves: Nickel Production: 16,180 t (20,926 t in FY 2020) Proved and probable reserves (ore): 2.1 Mt Number of mines: 2 (2 in FY 2020) Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Price Target Changed • Aug 25
Price target increased to AU$2.70 Up from AU$2.51, the current price target is an average from 11 analysts. New target price is 9.2% below last closing price of AU$2.97. Stock is up 32% over the past year. Announcement • Aug 24
Western Areas Limited Provides Production Guidance for the Fiscal Year 2022 Western Areas Limited provided production guidance for the fiscal year 2022. For the year, the company expects Nickel tonnes in Concentrate Production of 16,000 to 17,000. Announcement • Aug 19
IGO, Western Areas Confirm Takeover Talks IGO Limited (ASX:IGO) Ltd. said on August 17, 2021 it was in preliminary talks to acquire nickel miner Western Areas Limited (ASX:WSA), as it raises its footprint in battery materials after buying a lithium stake earlier this year. The companies confirmed in brief, separate statements that they were in early-stage discussions over a deal and how to arrange due diligence, but said there was no certainty that a deal would go through. The Australian Financial Review had reported on August 18, 2021 that IGO was a likely candidate to bid for Western Areas. Is New 90 Day High Low • Mar 10
New 90-day low: AU$2.03 The company is down 17% from its price of AU$2.44 on 10 December 2020. The Australian market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$2.58 per share. Analyst Estimate Surprise Post Earnings • Feb 24
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 8.7%. Over the next year, revenue is forecast to grow 4.3%, compared to a 141% growth forecast for the Metals and Mining industry in Australia. Reported Earnings • Feb 24
First half 2021 earnings released: AU$0.043 loss per share (vs AU$0.09 profit in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and control over costs. First half 2021 results: Revenue: AU$122.7m (down 21% from 1H 2020). Net loss: AU$12.0m (down 148% from profit in 1H 2020). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Feb 24
Western Areas Limited Declares No Interim Dividend for the Half Year Ended 31 December 2020 Western Areas Limited announced that no interim dividend has been declared in respect of the half year ended 31 December 2020. Announcement • Feb 16
Western Areas Limited to Report First Half, 2021 Results on Feb 23, 2021 Western Areas Limited announced that they will report first half, 2021 results on Feb 23, 2021 Major Estimate Revision • Jan 29
Analysts lower EPS estimates to AU$0.055 The 2021 consensus revenue estimate was lowered from AU$290.5m to AU$280.4m. Earning per share (EPS) estimate was also lowered from AU$0.07 to AU$0.055 for the same period. Net income is expected to shrink by 54% next year compared to 56% growth forecast for the Metals and Mining industry in Australia . The consensus price target was lowered from AU$2.69 to AU$2.61. Share price is down by 21% to AU$2.34 over the past week. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to AU$2.46, the stock is trading at a trailing P/E ratio of 21.1x, down from the previous P/E ratio of 25.1x. This compares to an average P/E of 14x in the Metals and Mining industry in Australia. Total return to shareholders over the past three years is a loss of 25%. Is New 90 Day High Low • Jan 22
New 90-day high: AU$2.97 The company is up 22% from its price of AU$2.43 on 23 October 2020. The Australian market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$1.56 per share. Is New 90 Day High Low • Jan 04
New 90-day high: AU$2.71 The company is up 27% from its price of AU$2.14 on 06 October 2020. The Australian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$3.45 per share. Is New 90 Day High Low • Dec 07
New 90-day high: AU$2.52 The company is up 7.0% from its price of AU$2.36 on 08 September 2020. The Australian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$2.91 per share. Major Estimate Revision • Dec 04
Analysts update estimates The 2021 consensus earning per share (EPS) estimate increased from AU$0.056 to AU$0.063. Revenue estimate for the same period was approximately flat at AU$281.7m. Net income is expected to shrink by 53% next year compared to 41% growth forecast for the Metals and Mining industry in Australia . The consensus price target increased from AU$2.37 to AU$2.40. Share price is up 5.7% to AU$2.42 over the past week. Major Estimate Revision • Nov 14
Analysts lower EPS estimates to AU$0.057 The 2021 consensus revenue estimate was lowered from AU$291.5m to AU$281.4m. Earning per share (EPS) estimate was also lowered from AU$0.07 to AU$0.057 for the same period. Net income is expected to shrink by 51% next year compared to 44% growth forecast for the Metals and Mining industry in Australia . The consensus price target was lowered from AU$2.45 to AU$2.37. Share price is up 3.8% to AU$2.05 over the past week. Price Target Changed • Nov 05
Price target lowered to AU$2.45 Down from AU$2.65, the current price target is an average from 12 analysts. The new target price is 26% above the current share price of AU$1.94. As of last close, the stock is down 37% over the past year. Major Estimate Revision • Nov 03
Analysts lower EPS estimates to AU$0.071 The 2021 consensus revenue estimate was lowered from AU$313.5m to AU$284.0m. Earning per share (EPS) estimate was also lowered from AU$0.12 to AU$0.071 for the same period. Net income is expected to shrink by 39% next year compared to 43% growth forecast for the Metals and Mining industry in Australia . The consensus price target was lowered from AU$2.65 to AU$2.47. Share price is down by 17% to AU$1.96 over the past week. Valuation Update With 7 Day Price Move • Oct 30
Market pulls back on stock over the past week After last week's 21% share price decline to AU$1.93, the stock is trading at a trailing P/E ratio of 16.5x, down from the previous P/E ratio of 20.8x. This compares to an average P/E of 11x in the Metals and Mining industry in Australia. Total return to shareholders over the past three years is a loss of 36%. Is New 90 Day High Low • Oct 30
New 90-day low: AU$1.93 The company is down 20% from its price of AU$2.42 on 31 July 2020. The Australian market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$4.05 per share. Announcement • Oct 15
Western Areas Limited Announces Board Changes The Board of Western Areas Ltd. announced the appointment of Yasmin Broughton as an Independent, Non Executive Director with effect from 15 October 2020. Broughton has over 20 years' experience working with ASX-listed companies and has a deep understanding of governance, risk management, compliance and regulation. Broughton is also a non-executive director of Resolute Mining Limited, Synergy, and the Insurance Commission of Western Australia. Craig Readhead has advised that he will not be seeking re-election at the Company's 2020 Annual General Meeting (AGM) and, as such, will retire from the Board at the completion of the 2020 AGM. Announcement • Oct 05
Western Areas NL to Report First Half, 2010 Results on 02/15/2010 Western Areas NL announced that they will report first half 2, 2010 results on 02/15/2010 Is New 90 Day High Low • Sep 22
New 90-day low: AU$2.17 The company is down 21% from its price of AU$2.75 on 24 June 2020. The Australian market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$4.04 per share. Announcement • Sep 02
Western Areas Limited (ASX:WSA) completed the acquisition of Four Mining Leases in the region of the Cosmos Nickel Operation from Ramelius Resources Limited (ASX:RMS). Western Areas Limited (ASX:WSA) agreed to acquire Four Mining Leases in the region of the Cosmos Nickel Operation from Ramelius Resources Limited (ASX:RMS) on December 6, 2019. As of December 6, 2019, Western Areas Limited issued 0.13 million shares as partial consideration.
Western Areas Limited (ASX:WSA) completed the acquisition of Four Mining Leases in the region of the Cosmos Nickel Operation from Ramelius Resources Limited (ASX:RMS) in July 2020. Announcement • Aug 17
Western Areas Limited to Report Fiscal Year 2020 Results on Aug 25, 2020 Western Areas Limited announced that they will report fiscal year 2020 results at 9:00 AM, AUS Central Standard Time on Aug 25, 2020