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    WSA   AU000000WSA9

WESTERN AREAS LIMITED

(WSA)
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Delayed Quote. Delayed Australian Stock Exchange - 05/16 02:11:02 am
3.83 AUD   +0.26%
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CSL, energy stocks drag Australia shares lower; tech rally limits losses

12/16/2021 | 01:42am EDT

* CSL biggest drag on benchmark, down 8.2%

* RBA open to end QE at February meeting

* ASX 200 drops for third session in row

Dec 16 (Reuters) - Australian shares slipped on Thursday, hit by health firm CSL Ltd and energy stocks, though gains in tech stocks tracking their U.S. peers helped limit losses.

The S&P/ASX 200 index fell to 0.4% to close at 7,295.7, after losing up to 0.7% earlier to hit lowest since Dec.7. It extended losses into a third straight session.

Despite a blow-out monthly jobs report and the Reserve Bank of Australia pushing back rate hike expectations, CSL Ltd's 8.8% drop was enough to drag on the benchmark index.

CSL, one of Australia's largest stocks by market value, plunged on resuming trade after two days on announcing a discounted $5 billion placement to fund the $11.7 billion acquisition of Swiss drugmaker Vifor Pharma.

The stock single-handedly dragged the healthcare subindex lower by 5.1%, marking its sharpest single-day fall since March 2020.

Energy stocks fell 1.2%, slipping for the third session. Beach Energy lost the most, down about 2%.

In contrast, Asian shares tracked Wall Street higher after the U.S. Federal Reserve said it would end bond-buying stimulus in March, likely setting up three interest rate increases next year to tackle heated inflation.

Tech index was a bright spot, as it rallied 2.1% in tandem with its U.S. peers, with the sector darling Afterpay settling 1.7% higher.

Among individual stocks, diversified miner IGO Ltd jumped 2.9%, hitting a record high after announcing the acquisition of nickel producer Western Areas for at A$1.10 billion, which jumped 6.2%.

New Zealand's benchmark S&P/NZX 50 index closed down 0.7% at 12,777.5 in its third session of losses. Data showed that the country's gross domestic product shrank 3.7% in the third quarter from the previous quarter. ($1 = 1.3976 Australian dollars) (Reporting by Savyata Mishra in Bengaluru; Editing by Rashmi Aich)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY -2.18% 66.47 End-of-day quote.-19.93%
BEACH ENERGY LIMITED 0.00% 1.635 Delayed Quote.29.76%
CSL LIMITED -1.05% 277.25 Delayed Quote.-3.62%
IGO LIMITED 0.76% 10.62 Delayed Quote.-8.11%
S&P 500 2.39% 4023.89 Real-time Quote.-15.57%
S&P/ASX 200 0.25% 7093 Real-time Quote.-4.96%
VIFOR PHARMA AG 0.76% 179.55 Delayed Quote.9.83%
WESTERN AREAS LIMITED 0.26% 3.83 Delayed Quote.11.37%
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Analyst Recommendations on WESTERN AREAS LIMITED
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Financials
Sales 2022 396 M 274 M 274 M
Net income 2022 64,8 M 44,8 M 44,8 M
Net cash 2022 115 M 79,6 M 79,6 M
P/E ratio 2022 20,7x
Yield 2022 0,03%
Capitalization 1 229 M 850 M 850 M
EV / Sales 2022 2,81x
EV / Sales 2023 3,27x
Nbr of Employees -
Free-Float 68,0%
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Technical analysis trends WESTERN AREAS LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Last Close Price 3,82 AUD
Average target price 3,77 AUD
Spread / Average Target -1,32%
EPS Revisions
Managers and Directors
Daniel Richard Lougher Chief Executive Officer, Executive Director & MD
Joseph A. Belladonna Chief Financial Officer & Secretary
Ian Alexander Macliver Independent Non-Executive Chairman
Marco Orunesu Preiata General Manager-Technical Services
Wyn Jones General Manager-Operations