Australian Worldwide Exploration
Stock Code
Stock Exchange
Australian Worldwide Exploration (AWE) is an oil and gas producer and explorer operating in Australia, New Zealand and Indonesia. The Company focuses on the evaluation and development of oil and gas properties along with the production and supply of oil, gas and condensate. AWE’s assets are in Argentina and the Kipper gas field. It listed on the ASX on 2nd July, 1997.
Australian Resources Weekly provided by Australian market analyst UBS.
What are consensus estimates telling us?
Consensus estimates versus spot prices:
Bloomberg data suggests spot is lower than consensus estimates for lead (-25%), nickel (-23%) and zinc (-19%) and higher than consensus estimates for copper (5%) and oil (28%). The implication is that there could be downside risk to zinc, lead and nickel, if prices do not rise from current levels and hence a negative impact on the stocks exposed to these commodities.
Australian Worldwide Exploration (AWE) have an Outperform recommendation on their stock from Macquarie Research, an Australian shares analyst.
Australian Worldwide Exploration (AWE) - Outperform
AWE has recently bounced off its 50% fibbonacci re-tracement level and given solid market fundamentals could be well placed to re-test its highs. The friendly approach to ARC Energy could be beneficial if accepted and could provide a further boost to AWE. Fundamentals behind this call are as follows;
Stock Chart Source: IRESS
Besides the Gold Company taking the award for the best overall performance on the Australian Stock Exchange (ASX), other great performers were: on the ASX100 index, Leighton Holdings (LEI) gained 9.44 percent or $3.93, closing the week at $45.56. On the ASX200 index Arrow Energy (AOE) grew by 14.729 percent or 29 cents, closing the week at $2.22. ASX 200 closed the week at 6252.8 and the ALL Ordinaries closed the week on 6273.3.
Aspect Huntley have downgraded their rating for the Australian Worldwide Exploration (AWE) stock to Reduce from Hold. The downgrade in recommendation was based on a reduced valuation down by 8 percent to $2.30 as earnings estimates are lowered. While quarterly sales revenue for the company was a record, Aspect Huntley notes it was below expectations given a lower contribution from subsidiary BassGas.
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