2144 GMT - Metro Mining's credibility takes another hit after the bauxite miner misses expectations for September shipments, says Ord Minnett. It says the weaker-than-expected monthly outcome puts annual guidance for shipments out of reach. "Metro Mining would need to average roughly 860,000 tons/month across the final three months of 2026 to hit the bottom end of former guidance" of 6.6 million-7.1 million tons, analyst Matthew Hope says. Ord Minnett thinks 6.2 million-6.4 million tons is a more realistic outcome. Achieving that would require shipment rates of approximately 775,000 tons/month through the December quarter. Ord Minnett retains a buy call but lowers its price target by 30% to A$1.75/share. Metro Mining ended Monday at A$0.88.
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