Citi’s analysts anticipate that Australian oil and gas majors, including Woodside (ASX:WDS) and Santos, are likely to report a HY23 net profit after tax (NPAT) that falls somewhat below the Visible Alpha consensus.

This forecasting of the brokerage reflects elevated operating expenses for these companies.

The analysts noted that the market’s attention will be on important projects, and that the companies' share prices could face risk should the outlook disappoint.

Specific to Woodside, City will continue to monitor the progress of the Scarborough project.

Moreover, they noted that Beach Energy has some potential downside risks if FY24 guidance disappoints on Western Flank and Waitsia Stage 2 guidance is not anticipated to be reinstated yet, according to Citi.

Woodside is a major Australian oil and gas company.

Financial analysts at Citi recently commenced their analysis of the Australian agribusiness, Elders.

The firm has been given a ‘sell’ rating with a price target of A$6.85.

Elders recently concluded its trading at a solid A$7.54.

The brokerage highlighted Elders as a high-quality agricultural player with a commendable track record, thanks to its consistent growth through the cycle and successful backward integration.

However, Citi also pointed out potential challenges such as adverse weather conditions, declining commodity prices, and sluggish growth in livestock exports.

The firm stated that the sharp drop in commodity prices is one of the industry’s significant concerns.

Citi anticipates Elders' core net profit for FY23 to amount to A$110.1 million and A$104.9 million for FY24, experiencing a decline from A$162.9 million in FY22.

According to Refinitiv data, four out of 10 analysts rate Elders ‘buy’ or higher, while six maintain a ‘hold’ stance, with a median price target of A$8.57.

Elders is an Australian agribusiness firm involved in livestock and wool trading, production, grain trading, and rural services.

Citi has raised its price target on Australia’s Baby Bunting Group (ASX:BBN), it is predicting higher gross margins and reduced costs will boost earnings up to fiscal year 2025.

Citi has raised its price target to A$2.20 from A$1.65, while retaining its ‘neutral’ rating.

Citi believes BBN could benefit from lower international freight costs, increased private label sales, and loyalty program optimization.

The bank has increased its FY24 core net profit forecast by 36.2% to A$18.5 million, and by 38.7% to A$26.3 million for FY25.

Among seven analysts, three recommend buying BBN or higher, and four recommend holding; their median price target stands at A$2.10.

BBN shares have declined by 22.9% this year, as of the last close.

The Baby Bunting Group (ASX:BBN) is an Australian company specializing in the supply of a diverse range of baby products including prams, clothes, and toys.

Carsales.Com (ASX:CAR) recently disclosed their adjusted nett profit after taxes (NPAT) for the financial year, totalling A$278 million.

This represents a significant increase, up 43% compared to the previous corresponding period.

Furthermore, the company also posted a fiscal year revenue of A$781 million, illustrating an increase of 53% as compared to the previous corresponding period.

In addition, Carsales.Com declared a franked final dividend of 32.5 Australian cents per share.

The company suggests they expect to deliver substantial revenue and EBITDA growth in the fiscal year of 2024.

Carsales.Com predicts very strong growth in revenue and adjusted EBITDA, and robust growth in adjusted NPAT for fiscal year 2024.

The company also foresees an expansion in the Carsales Group EBITDA margin on a proforma basis for fiscal year 2024, and good growth in revenue and EBITDA growth for fiscal 2024 in the United States.

Carsales.com (ASX:CAR) is an Australian online marketplace for cars, motorbikes, and boats headquartered in Melbourne.

Citi Financial increased its price target on Australia’s REA Group (ASX:REA) following the company’s fiscal year 2023 results which exceeded market projections.

The new target was set at A$159.00 from A$157.50, while maintaining a neutral rating.

The company declared a core net profit after tax (NPAT) of A$372 million, a figure which was one percent above the Visible Alpha consensus of A$370 million.

Citi pointed out that while the FY23 result was slightly weaker considering the higher capitalized product spend, it anticipated solid growth in FY24 driven by a 13% price increase, continuous depth growth, and expected listing growth as the housing market recovers.

However, the firm lowered its FY24 NPAT forecast by 5% to account for higher cost growth, depreciation, and amortization and interest costs.

Out of 14 analysts, stock ratings were two ‘buy’, eight ‘hold’ and four ‘sell’, with the median price target at A$153.00 according to Refinitiv data.

The stock has risen by 43.2% this year, as of the last closing.

REA Group (ASX:REA) is an Australia-based digital advertising company that specializes in property.

Ansell (ASX:ANN) has declared a final dividend of US25.80 cents per share.

The company also announced an on-market share buyback of up to $50 million in the financial year 2024.

Sales growth is expected in the industrial GBU in FY24, subject to broader macroeconomic developments.

The company anticipates one off pre-tax investment program costs for FY24 to be between $55-60 million.

For FY24, the company forecasts capital expenditure to be in the range of $60 million to $80 million.

They also expect the net interest cost to increase to $29 million due to increased gross debt in FY24.

As part of their future plans, Ansell will focus on reducing their inventory in FY24.

Ansell is a global company specializing in protection solutions, including gloves and protective wear.

Copper miners are reporting a decrease in line with the lower prices of the red metal.

This news comes in the wake of the three-month benchmark copper on the London Metal Exchange falling by 1.3%, bringing figures down to $8,275.5 per tonne.

Copper costs have fallen and are looking at the largest weekly drop in a three month span.

This decline is driven by data showing a lackluster rebound in post-pandemic China.

Shares of global mining conglomerates Rio Tinto (ASX:RIO) and BHP Group experienced a dip of 0.9% and 0.6%, respectively.

Copper miners such as Southern Copper and Freeport-McMoRan also noted a decline, with figures of 1.5% and 2.1% respectively.

Canadian miners, including Hudbay Minerals, First Quantum Minerals, and Teck Resources also faced setbacks with a drop ranging between 1.2% and 1.8%.

Rio Tinto (ASX:RIO) is a global mining corporation.

Shares of New Gold rose 4.1% to $1.01 in premarket trading following the company’s announcement of the resumption of mining activities at the Afton gold-copper mine in Kamloops, British Columbia.

The activities had been paused to confirm the structural integrity of the tailings storage facility.

Despite a 7.7% decrease last Thursday when New Gold (ASX:NGD) suspended its underground mining activities, the stock managed to decrease only 1% Year-To-Date up to Thursday’s close.

New Gold (ASX:NGD) is a U.S.-listed mining company with shares listed on the Toronto Stock Exchange.

Shares of Newcrest Mining fell by up to 1.4% to A$25.59, their lowest level since May 31, as the gold mining giant announced a 10.8% decrease in its annual profit due to increased operating and finance costs.

The company also said that it expects its gold production in fiscal 2024 to be within the 2 million to 2.3 million ounces range, in comparison to the 2.1 million ounces it recorded in fiscal 2023.

Amid these developments, Newcrest Mining is currently subject to a A$26.2 billion takeover offer from Newmont Corp.

Despite the recent dip, the stock has gained 25.7% this year as of the last close, standing out against a 4.5% increase in the S&P/ASX 200 index.

Newcrest Mining is a major global gold mining company and Australia’s largest gold producer.

Foresta Group Holdings, a pine chemicals manufacturer, noticed an increase in their shares (ASX:FGH) by as much as 21.4% to A$0.017.

If the gains hold, this would mark their best day since May 18.

The company’s stock also reached its highest level since July 31.

Foresta Group says its unit, Foresta NZ, has entered an offtake agreement with NZ-based Tailored Energy Resources, which includes a supply of up to 400,000 tonnes per annum of torrefied wood pellets.

The initial term of the agreement is for 8 years and supply of around 2.4 million tonnes of torrefied wood pellets in total.

As of the last close, FGH had dropped 30% year to date.

Foresta Group is a company which specializes in making pine chemicals.