ALPHA HPA LIMITED (A4N)
Share Price Analysis and Chart

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A4N

A4N - ALPHA HPA LIMITED

FNArena Sector : Aluminium, Bauxite & Alumina
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: -0.2
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.78

12 Jun
2026

0.040

OPEN

$0.76

5.41%

HIGH

$0.80

4,172,383

LOW

$0.76

TARGET
$1.15 47.4% upside
OTHER COMPANIES IN THE SAME SECTOR
AAI . AEM . CAA . CAY . LIN . RIO .
FNARENA'S MARKET CONSENSUS FORECASTS
A4N: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 2.9 - 4.9 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A N/A xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-2.9
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx0.3 M
Book Value Per Share xxxxxxxxxxxxxxx19.3
Net Operating Cash Flow xxxxxxxxxxxxxxx-18.2 M
Net Profit Margin xxxxxxxxxxxxxxx-10,253.09 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-13.97 %
Return on Invested Capital xxxxxxxxxxxxxxx-13.86 %
Return on Assets xxxxxxxxxxxxxxx-11.82 %
Return on Equity xxxxxxxxxxxxxxx-13.97 %
Return on Total Capital xxxxxxxxxxxxxxx-18.25 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-103.8 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx8 M
Long Term Debt xxxxxxxxxxxxxxx0 M
Total Debt xxxxxxxxxxxxxxx8 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx102 M
Price To Book Value xxxxxxxxxxxxxxx4.44

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx85.5 M
Capex % of Sales xxxxxxxxxxxxxxx26,941.70 %
Cost of Goods Sold xxxxxxxxxxxxxxx3 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx41 M
Research & Development xxxxxxxxxxxxxxx3 M
Investments - Total xxxxxxxxxxxxxxx4 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

1

xxxxxxxxxxx xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Macquarie

12/06/2026

1

Resume Coverage with Outperform

$1.05

34.62%

Macquarie assesses Alpha HPA is poised to benefit from semiconductor sector tailwinds in the next 12-18 months, with a product that is "right time, right place with high purity alumina emerging as a favoured ceramic".

The use of this in chip packaging substrates will drive improvement in thermal performance and allowing GPU accelerators to run hotter/faster. The broker also points out pricing is inelastic and has provided a tailwind to project economics.

The stock is considered a compelling opportunity for long-term investors as it has exposure to the rapidly scaling up AI theme. Coverage is reinstated with an Outperform rating and $1.05 target.

FORECAST
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -3.70 cents.
Macquarie forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -3.10 cents.

Bell Potter

xx/xx/xxxx

1

xxxxxxxxxxx xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

08/05/2026

1

Speculative Buy

$1.20

53.85%

Canaccord Genuity maintains a Speculative Buy rating for Alpha HPA with an unchanged $1.20 target price following a site visit demonstrating strong progress on Stage 2 construction at the Gladstone facility.

The broker notes the flexible plant design allows the production of high-value gamma phase alumina products tailored for the rapidly growing semiconductor and lithium-ion battery markets.

Recent quarterly sales achieved pricing comfortably above US$28 per kilogram, easily exceeding the assumed US$24 to US$25 per kilogram base case model.

With $212m in cash on hand, the business remains well-funded to cover near-term capital expenditure before drawing down debt facilities ahead of expected commissioning in late FY27.

Earnings estimates remain unchanged reflecting confidence in the execution strategy and an expanding sales pipeline.
Access Extra Coverage Research History >

A4N STOCK CHART

FNArena News on A4N

Latest Aluminium, Bauxite & Alumina News

1
Is Aluminium Pivoting Towards A Structural Bull Market?

Sep 14 2021 - Commodities
2
Weekly Ratings, Targets, Forecast Changes – 17-07-20

Jul 20 2020 - Weekly Reports
3
Treasure Chest: Can Alumina Maintain Dividends?

Jul 11 2019 - Treasure Chest
4
Alumina Strikes Record Earnings, Dividend

Feb 25 2019 - Australia
5
Treasure Chest: More Upside For Alumina?

Apr 19 2018 - Treasure Chest
6
Weekly Ratings, Targets, Forecast Changes

Dec 12 2016 - Weekly Reports
7
Material Matters: US Energy, Coal, Chrome, Steel And Oz Miners

Nov 17 2016 - Commodities
8
Alumina Ltd Cuts A Better Deal From JV

Sep 05 2016 - Australia
9
Alumina Ltd Basks In Higher Margins

Jul 13 2016 - Australia
10
Next Week At A Glance

Jul 08 2016 - Weekly Reports