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Norsk Hydro downgraded by J.P. Morgan to neutral over gas risks in Brazil

J.P. Morgan has cut Norsk Hydro from "Overweight" to "Neutral" and placed the stock on "Negative Catalyst Watch" ahead of Q3 results, saying uncertainties over the natural gas supply to the Alunorte refinery in Brazil could weigh on EBITDA. The price target was lowered from 116 to 97 NOK; the stock fell about 3% following the move. The bank sharply reduced its EBITDA and EPS forecasts for 2026/2027 and warns that higher costs in Q3 could lead to further downgrades to consensus. » More on de.investing.com
Norsk Hydro under pressure from possible US–Canada tariff deal

Norsk Hydro's shares fell about 3% in Oslo after a preliminary US‑Canada trade agreement could cut US tariffs on Canadian primary aluminium from 50% to around 25%, weighing on the Midwest premium, which was last at $2,371/tonne. RBC estimates that a premium decline of $300/tonne would reduce Hydro's EBITDA by roughly NOK 240m through lower recycling margins; there would also be a one‑off inventory write‑down of about NOK 150m, totalling around NOK 400m (~1% of consensus EBITDA 2026). Direct effects on Hydro are limited because primary exports to the US are small, but a lower premium could dampen demand in US end markets for extrusion products while making a volume recovery through 2027 easier. » More on de.investing.com
Norsk Hydro curtails Alunorte production, Chinese aluminium stocks rise

Norsk Hydro has cut production at the Alunorte alumina refinery in Brazil to 50% after the gas supplier reported disruptions. The move heightened supply concerns, pushed aluminium prices higher and triggered share gains in Chinese and Japanese aluminium stocks. LME inventories have fallen to their lowest level since November 1990, and Norsk Hydro warned that a sustained trade stoppage through the Strait of Hormuz could significantly widen the global supply deficit. » More on de.investing.com

Historical dividends Dividends

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In 2026, Norsk Hydro has already paid €0.28 in dividends. The last payout was in May.

Financials

In the last quarter, Norsk Hydro had revenue of €4.99bn and net profit of €503.26m

(EUR)	June 2026	YoY
Revenue	4.99bn	11.71%
Gross profit	1.91bn	34.14%
Net profit	503.26m	191.32%
EBITDA	1.02bn	82.07%

Fundamentals

Metric	Value
Market capitalization	€15.96bn
Number of shares	1.97bn
52-week high/low	€11.21 - €5.62
Dividend yield	3.44%
Dividends TTM	€0.28
Beta	0.69
P/E ratio	17.58
PEG ratio	6.56
P/B ratio	1.66
P/S ratio	0.84

Company profile

Norsk Hydro ASA ist in den Bereichen Stromerzeugung, Bauxitgewinnung, Aluminiumoxidraffination, Aluminiumverhüttung, -umschmelzung und -recycling sowie der Bereitstellung von Strangpresslösungen weltweit tätig. Das Unternehmen ist in den Segmenten Bauxit und Tonerde, Aluminiummetall, Metallmärkte, Strangpressen und Energie tätig. Das Segment Bauxit & Tonerde ist im Bauxitabbau, in der Tonerdeproduktion und den damit verbundenen Handelsaktivitäten, vor allem dem Verkauf von Tonerde, tätig. Das Segment Aluminiummetall ist in der Primäraluminiumproduktion und im Gussgeschäft tätig. Dieses Segment bietet hauptsächlich Strangpressbarren, Gießereilegierungen, Bleche und Standardbarren an. Das Segment Metallmärkte verkauft Produkte aus den Primärmetallwerken des Unternehmens, betreibt Recycler und handelt mit physischen und finanziellen Metallen. Das Segment Extrusions bietet Strangpressprofile, Bausysteme und Präzisionsrohrprodukte für die Bau-, Automobil-, Heizungs-, Lüftungs- und Klimabranche an und betreibt Recyclinganlagen. Das Segment Energie ist im Handels- und Großhandelsgeschäft in Brasilien, in der Energiebeschaffung und im Betrieb von Kraftwerken in Norwegen sowie in der Erzeugung erneuerbarer Energien wie Wind- und Solarenergie, Batterien und Wasserstoff tätig. Norsk Hydro ASA wurde 1905 gegründet und hat seinen Hauptsitz in Oslo, Norwegen.