Orica Limited (OCLDF) Receives a Buy from Goldman Sachs

In a report released yesterday, Niraj Shah from Goldman Sachs maintained a Buy rating on Orica Limited (OCLDFResearch Report), with a price target of A$19.85. The company’s shares closed last Wednesday at $9.56.

Shah covers the Industrials sector, focusing on stocks such as Qantas Airways Limited, Brambles Limited, and ALS Ltd.. According to TipRanks, Shah has an average return of -1.3% and a 43.40% success rate on recommended stocks.

Currently, the analyst consensus on Orica Limited is a Strong Buy with an average price target of $11.70, which is a 22.41% upside from current levels. In a report released yesterday, UBS also maintained a Buy rating on the stock with a A$18.80 price target.

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The company has a one-year high of $11.53 and a one-year low of $7.75. Currently, Orica Limited has an average volume of 270.

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Orica Ltd. engages in the manufacture and distribution of commercial explosives and blasting systems. It operates through the following segments: Australia, Pacific, and Asia; North America; Latin America; Europe, Middle East, and Africa; Minova; Auxiliaries; and Global Support. The Australia, Pacific, and Asia; North America; Latin America; and Europe, Middle East, and Africa segment involves in the supply of commercial explosives and blasting systems including technical services and solutions to the mining and infrastructure markets, and supply of mining chemicals including sodium cyanide for gold extraction. The Minova segment provides chemical and mechanical earth control products, adhesives, and ground support solutions for the underground mining, construction, tunneling, and civil engineering industries. The Auxiliaries segment consists of all adjacency businesses. The Global Support segment relates to corporate and support costs which cannot otherwise be allocated to other segments on a reasonable basis and operation of the Botany Groundwater Treatment Plant and non-operating assets. Its products include BlastIQ Plattform and mining chemicals such as sodium cyanide and emulsifiers. The company was founded in 1874 and is headquartered in Melbourne, Australia.

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