Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through three segments: Bauxite, Alumina, and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting, casting, and rolling businesses. The company offers primary aluminum in the form of alloy ingot or value-add ingot to customers that produce products for the transportation, building and construction, packaging, wire, and other industrial markets; and flat-rolled aluminum sheets to customers that produce beverage and food cans. In addition, it owns hydro power plants that produce and sell electricity to the wholesale market to traders, large industrial consumers, distribution companies, and other generation companies. The company was formerly known as Alcoa Upstream Corporation and changed its name to Alcoa Corporation in October 2016. The company was founded in 1888 and is headquartered in Pittsburgh, Pennsylvania.
IPO Year: 2016
Exchange: NYSE
Website: alcoa.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/23/2024 | $48.00 | Hold → Buy | Argus |
| 10/17/2024 | $41.00 → $50.00 | Neutral → Buy | B. Riley Securities |
| 10/1/2024 | $43.00 → $52.00 | Neutral → Buy | BofA Securities |
| 9/25/2024 | $32.00 → $36.00 | Neutral | JP Morgan |
| 9/4/2024 | $36.00 | Peer Perform → Outperform | Wolfe Research |
| 8/12/2024 | $32.00 → $38.00 | Sell → Buy | UBS |
| 8/2/2024 | Underperform → Peer Perform | Wolfe Research | |
| 6/21/2024 | $36.50 → $50.00 | Equal-Weight → Overweight | Morgan Stanley |
| 4/22/2024 | $28.50 → $36.50 | Underweight → Equal-Weight | Morgan Stanley |
| 1/16/2024 | $29.00 | Sell | UBS |
Alcoa's (NYSE:AA) short percent of float has fallen 5.44% since its last report. The company recently reported that it has 12.09 million shares sold short, which is 8.69% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.46 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is impor
Morgan Stanley analyst Carlos De Alba maintains Alcoa (NYSE:AA) with a Overweight and lowers the price target from $50 to $48.
It’s another risk-off day on Wall Street, with all major U.S. indices trading in the red. The CBOE Volatility Index (VIX), often referred to as the market’s fear gauge, spiked over 10%, reaching levels last seen in late April. Both the S&P 500 and the Nasdaq 100 indices declined by 0.6%, while the Dow Jones Industrial Average fell 0.7%, potentially ending a streak of six consecutive positive sessions. Small-cap stocks also succumbed to the broader negative sentiment, with the Russell 2000 index dropping 0.7%. Chicago Fed President Austan Goolsbee, a known “dove” on the board, expressed optimism about progress on inflation and the U.S. economy’s resilience in avoiding a recession. He
B Riley Securities analyst Lucas Pipes maintains Alcoa Corporation (NYSE:AA) with a Neutral rating, raising the price target from $39 to $43. According to the analyst, Alcoa is highly focused on closing the Alumina Limited acquisition immediately, which appears to be comfortably on pace for the August 1 target. For the operating footprint, the company has made strides in its profitability improvement program, with a $350 million run-rate achieved to date and $295 million left to achieve over the second half of the year and 2025. According to the analyst, final bids are being collected for a potential San Ciprian sale, but “hard decisions” are still expected if a sale or asset optimi
Throughout the last three months, 6 analysts have evaluated Alcoa (NYSE:AA), offering a diverse set of opinions from bullish to bearish. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 1 4 0 0 Last 30D 0 0 2 0 0 1M Ago 0 1 1 0 0 2M Ago 1 0 0 0 0 3M Ago 0 0 1 0 0 In the assessment of 12-month price targets, analysts unveil insights for Alcoa, presenting an average target of $44.75, a high estimate of $50.00, and a low estimate of $36.50. This current average has increased by 20.95% from the pr
B of A Securities analyst Lawson Winder maintains Alcoa (NYSE:AA) with a Neutral and lowers the price target from $46 to $43.
B. Riley Securities analyst Lucas Pipes maintains Alcoa (NYSE:AA) with a Neutral and raises the price target from $39 to $43.
Beaten-down stocks could make a comeback on Thursday, with Taiwan Semiconductor Manufacturing Company Ltd.’s (NYSE:TSM) strong quarterly report lifting sentiment toward tech stocks. The major U.S. index futures were mixed ahead of the trading session. A few Fed speeches scheduled for the day, and key economic data, including jobless claims, the results of a regional manufacturing survey, and leading economic index may influence trading direction. Traders may also pay attention to the European Central Bank’s rate decision and its monetary policy outlook. FuturesPerformance (+/-)Nasdaq 100+0.40%S&P 500+0.15%Dow-0.13%R2K-0.03% In premarket trading on Thursday, the SPDR S&P 500 ETF Trus
Within third quarter 2024 Alumina Segment Adjusted EBITDA, the Company expects sequential unfavorable impacts of $10 million related to bauxite grade in Australia.Within third quarter 2024 Aluminum Segment Adjusted EBITDA, the Company expects favorable raw material prices of $10 million.Interest expense in the third quarter 2024 is expected to increase by approximately $5 million due to the assumption of Alumina Limited debt at acquisition closing.Based on current alumina and aluminum market conditions, Alcoa expects third quarter operational tax expense to approximate $60 million to $70 million, which may vary with market conditions and jurisdictional profitability.Net income attributable t
10-Q - Alcoa Corp (0001675149) (Filer)
8-K - Alcoa Corp (0001675149) (Filer)
SD - Alcoa Corp (0001675149) (Filer)
8-K - Alcoa Corp (0001675149) (Filer)
10-Q - Alcoa Corp (0001675149) (Filer)
8-K - Alcoa Corp (0001675149) (Filer)
8-K - Alcoa Corp (0001675149) (Filer)
8-K - Alcoa Corp (0001675149) (Filer)
DEFA14A - Alcoa Corp (0001675149) (Filer)
DEFA14A - Alcoa Corp (0001675149) (Filer)
Alcoa Corporation (NYSE:AA, ASX: AAI)) today announced that it has joined the World Economic Forum's First Suppliers Hub, a global repository of innovative suppliers providing materials needed to support the ambition of industrial decarbonization in the world by 2050. First Suppliers Hub is a database of global final product and value chain suppliers created by the First Movers Coalition; both the First Movers Coalition (FMC) and First Suppliers Hub are within the World Economic Forum. Members of FMC set a target that at least 10 percent of their annual primary aluminum procurement volumes meet or exceed the Coalition's definition for low-carbon primary aluminum. FMC defines low-carbon as
Alcoa Corporation Executive Vice President and Chief Financial Officer Molly S. Beerman will participate in a live webcast session at the Citi 2024 Basic Materials Conference in New York City, New York on Wednesday, December 4, 2024. At 10:15 a.m. EST, Beerman will participate in a question-and-answer session regarding Alcoa's business and outlook in the current market, including factors that could affect the present quarter's financial results. A slide presentation, to be used in connection with the conference and investor meetings will be available on the "Investors" section of Alcoa's website, www.alcoa.com, beginning at approximately 7:00 a.m. EST on Wednesday, December 4, 2024. A
Alcoa Corporation (NYSE:AA, ASX: AAI))) welcomes the U.S. Treasury Department's final regulations on the Section 45X Advanced Manufacturing Production Credit, enacted as part of the Inflation Reduction Act (IRA). As recognized by the Administration, Section 45X is an important tool for shoring up domestic manufacturing of critical materials, including commercial-grade aluminum from Alcoa's U.S. smelters in Newburgh, Indiana, and Massena, New York. The aluminum produced at these facilities plays a crucial role in multiple domestic manufacturing segments including clean energy, automotive, aerospace and building materials. Alcoa is pleased that the Treasury Department included some direct a
Alcoa Corporation (NYSE:AA, ASX: AAI))) today reported results for the third quarter 2024 that reflect the acquisition of Alumina Limited in addition to sequential increases in net income, adjusted net income and Adjusted EBITDA excluding special items. Financial Results and Highlights M, except per share amounts 3Q24 2Q24 3Q23 Revenue $ 2,904 $ 2,906 $ 2,602 Net income (loss) attributable to Alcoa Corporation $ 90 $ 20 $ (168 ) Income (loss) per share attributable to Alcoa Corporation common shareholders1 $ 0.38 $ 0.11 $ (0.94 ) Adjusted net income (loss) $
Agreement Would Leverage Experience of Both Leaders and Cooperation from Key Stakeholders Today, Alcoa Corporation (NYSE:AA, ASX: AAI))) and IGNIS Equity Holdings, SL (IGNIS EQT), the majority shareholder in the IGNIS Group of Companies, a vertically integrated energy company based in Spain, announced that they are progressing toward entering into a strategic cooperation agreement (the "partnership") to support the continued operation of Alcoa's San Ciprián operations. Under the proposed agreement, Alcoa would contribute €75 million, and IGNIS EQT would make an initial investment of €25 million to fund the operations. Alcoa would continue as the managing operator of the San Ciprián operat
Alcoa Corporation (NYSE:AA, ASX: AAI))) today announced that its Board of Directors has declared a quarterly cash dividend of $0.10 per share of the Company's common stock and Series A convertible preferred stock, to be paid on November 15, 2024 to stockholders of record as of the close of business on October 29, 2024. About Alcoa Corporation Alcoa (NYSE:AA, ASX: AAI))) is a global industry leader in bauxite, alumina and aluminum products with a vision to reinvent the aluminum industry for a sustainable future. With a values-based approach that encompasses integrity, operating excellence, care for people, and courageous leadership, our purpose is to Turn Raw Potential into Real Progress.
Alcoa Corporation (NYSE:AA, ASX: AAI))) today announced an agreement to supply up to 16.5 million tonnes of smelter grade alumina to Aluminium Bahrain B.S.C. (Alba) over 10 years. Over the life of the agreement, which commences in 2026 and will run through 2035, volume options will allow Alba to procure as much as 16.5 million metric tons of alumina, primarily from Western Australia. This contract extension recognizes the long-term relationship between Alcoa and Alba and will make Alcoa Alba's largest third-party supplier of alumina. "By securing this contract extension with Alba, Alcoa further strengthens its position as the premier global alumina supplier, while continuing to provide st
Alcoa Corporation (NYSE:AA, ASX: AAI))) plans to announce its third quarter 2024 financial results on Wednesday, October 16, 2024, after the close of trading on the New York Stock Exchange. Alcoa will host a conference call to discuss the third quarter financial results on October 16, 2024, at 5:00 p.m. EDT (October 17, 2024, at 8:00 a.m. AEDT). The call will be webcast live via Alcoa's website, www.alcoa.com. The third quarter earnings press release with financial results, and a related presentation, will be available on the "Investors" section of Alcoa's website, www.alcoa.com. A link to the press release will also be on Alcoa's X handle @Alcoa at www.X.com/Alcoa. Conference Call Infor
Alcoa to receive $1.1 billion of proceeds in Ma'aden shares and cash Transaction simplifies Alcoa's portfolio in Saudi Arabia and provides greater financial flexibility Alcoa (NYSE:AA, ASX: AAI))) ("Alcoa" or the "Company") announced today that it has entered into a binding share purchase and subscription agreement (the "Agreement") with Saudi Arabian Mining Company ("Ma'aden"), under which Alcoa will sell its full ownership interest of 25.1% in the Ma'aden Joint Venture to Ma'aden for approximately $1.1 billion. The transaction consideration comprises approximately 86 million shares of Ma'aden (valued at $950 million based on the volume-weighted average share price of Ma'aden for the la
Alcoa Corporation Executive Vice President and Chief Financial Officer Molly S. Beerman will participate in two investor conferences, engaging in question-and-answer sessions regarding Alcoa's business and outlook in the current market, including factors that could affect the present quarter's financial results. Jefferies 2024 Industrial Conference At 1:20 p.m. EDT on Thursday, September 5, 2024, Molly S. Beerman will participate in a live webcast session at the Jefferies 2024 Industrials Conference in New York, New York. Morgan Stanley 12th Annual Laguna Conference At 10:00 a.m. EDT on Thursday, September 12, 2024, Molly S. Beerman will participate in a live webcast session at the M
Argus upgraded Alcoa from Hold to Buy and set a new price target of $48.00
B. Riley Securities upgraded Alcoa from Neutral to Buy and set a new price target of $50.00 from $41.00 previously
BofA Securities upgraded Alcoa from Neutral to Buy and set a new price target of $52.00 from $43.00 previously
JP Morgan resumed coverage of Alcoa with a rating of Neutral and set a new price target of $36.00 from $32.00 previously
Wolfe Research upgraded Alcoa from Peer Perform to Outperform and set a new price target of $36.00
UBS upgraded Alcoa from Sell to Buy and set a new price target of $38.00 from $32.00 previously
Wolfe Research upgraded Alcoa from Underperform to Peer Perform
Morgan Stanley upgraded Alcoa from Equal-Weight to Overweight and set a new price target of $50.00 from $36.50 previously
Morgan Stanley upgraded Alcoa from Underweight to Equal-Weight and set a new price target of $36.50 from $28.50 previously
UBS initiated coverage of Alcoa with a rating of Sell and set a new price target of $29.00
Alcoa Corporation (NYSE:AA, ASX: AAI)) today announced that it has joined the World Economic Forum's First Suppliers Hub, a global repository of innovative suppliers providing materials needed to support the ambition of industrial decarbonization in the world by 2050. First Suppliers Hub is a database of global final product and value chain suppliers created by the First Movers Coalition; both the First Movers Coalition (FMC) and First Suppliers Hub are within the World Economic Forum. Members of FMC set a target that at least 10 percent of their annual primary aluminum procurement volumes meet or exceed the Coalition's definition for low-carbon primary aluminum. FMC defines low-carbon as
Alcoa Corporation (NYSE:AA, ASX: AAI))) today reported results for the third quarter 2024 that reflect the acquisition of Alumina Limited in addition to sequential increases in net income, adjusted net income and Adjusted EBITDA excluding special items. Financial Results and Highlights M, except per share amounts 3Q24 2Q24 3Q23 Revenue $ 2,904 $ 2,906 $ 2,602 Net income (loss) attributable to Alcoa Corporation $ 90 $ 20 $ (168 ) Income (loss) per share attributable to Alcoa Corporation common shareholders1 $ 0.38 $ 0.11 $ (0.94 ) Adjusted net income (loss) $
Alcoa Corporation (NYSE:AA, ASX: AAI))) today announced that its Board of Directors has declared a quarterly cash dividend of $0.10 per share of the Company's common stock and Series A convertible preferred stock, to be paid on November 15, 2024 to stockholders of record as of the close of business on October 29, 2024. About Alcoa Corporation Alcoa (NYSE:AA, ASX: AAI))) is a global industry leader in bauxite, alumina and aluminum products with a vision to reinvent the aluminum industry for a sustainable future. With a values-based approach that encompasses integrity, operating excellence, care for people, and courageous leadership, our purpose is to Turn Raw Potential into Real Progress.
Alcoa Corporation (NYSE:AA, ASX: AAI))) plans to announce its third quarter 2024 financial results on Wednesday, October 16, 2024, after the close of trading on the New York Stock Exchange. Alcoa will host a conference call to discuss the third quarter financial results on October 16, 2024, at 5:00 p.m. EDT (October 17, 2024, at 8:00 a.m. AEDT). The call will be webcast live via Alcoa's website, www.alcoa.com. The third quarter earnings press release with financial results, and a related presentation, will be available on the "Investors" section of Alcoa's website, www.alcoa.com. A link to the press release will also be on Alcoa's X handle @Alcoa at www.X.com/Alcoa. Conference Call Infor
Alcoa Corporation (NYSE:AA) today announced that its Board of Directors has declared a quarterly cash dividend of $0.10 per share of the Company's common stock and Series A convertible preferred stock, to be paid on August 29, 2024, to stockholders of record as of the close of business on August 12, 2024. In connection with the Company's acquisition of Alumina Limited, the Series A convertible preferred stock was created and will be issued at the closing of that transaction, expected on August 1, 2024. About Alcoa Corporation Alcoa (NYSE:AA) is a global industry leader in bauxite, alumina and aluminum products with a vision to reinvent the aluminum industry for a sustainable future. Wit
Alcoa Corporation (NYSE:AA) today reported results for the second quarter 2024 consistent with the Company's previously announced preliminary results that reflect sequential increases in revenue, net income, adjusted net income and Adjusted EBITDA excluding special items on higher alumina and aluminum prices, along with continued progress on profitability improvement programs. Financial Results and Highlights M, except per share amounts 2Q24 1Q24 2Q23 Revenue $ 2,906 $ 2,599 $ 2,684 Net income (loss) attributable to Alcoa Corporation $ 20 $
Stockholders Indicate Strong Support Alcoa Corporation (NYSE:AA) ("Alcoa" or the "Company") today announced the preliminary voting results of its Special Meeting of Stockholders, at which the stockholders approved the Company's issuance of shares in connection with the proposed acquisition of Alumina Limited ("Alumina") by way of a scheme of arrangement ("Scheme"). Approximately 99 percent of Alcoa shares present at the Special Meeting of Stockholders today voted in favor of the issuance of shares of Alcoa stock in connection with the transaction. Final voting results will be reported on a Form 8-K that the Company will file with the U.S. Securities and Exchange Commission within four b
Alcoa Corporation (NYSE:AA) today released preliminary second quarter 2024 results ahead of its Special Meeting of Stockholders to be held on July 16, 2024 in connection with its announced acquisition of Alumina Limited. The preliminary results include sequential increases in revenue, net income, adjusted net income and Adjusted EBITDA excluding special items on higher alumina and aluminum prices. Financial Results and Highlights M, except per share amounts 2Q24 preliminary 1Q24 2Q23 Revenue $2,850 - $2,925 $2,599 $2,684 Net income (loss) attributable to Alcoa Corporation $5 - $25 $(252
Alcoa Corporation (NYSE:AA) plans to announce its second quarter 2024 financial results on Wednesday, July 17, 2024, after the close of trading on the New York Stock Exchange. Alcoa will host a conference call to discuss the second quarter financial results on July 17, 2024, at 5:00 p.m. EDT, and the call will be webcast live via Alcoa's website, www.alcoa.com. The press release with financial results, and a related presentation, will be available on the "Investors" section of Alcoa's website, www.alcoa.com. A link to the press release will also be on Alcoa's X handle @Alcoa at www.X.com/Alcoa. Additionally, Alcoa plans to announce certain preliminary information with respect to its sec
Australian Court Proceedings Convene Alumina Limited Shareholder Vote Independent Expert Report Assesses Transaction as Fair and Reasonable Alcoa Corporation (NYSE:AA) today announced that it has reached several key milestones in its acquisition of Alumina Limited ("Alumina") and expects the transaction to be completed on or about August 1, 2024, subject to the satisfaction of customary conditions. The milestones include: Alcoa filed its definitive proxy statement with the Securities and Exchange Commission on June 6, 2024, and scheduled the Special Meeting of Shareholders to vote on the transaction for July 16, 2024. Alcoa received regulatory approvals from Brazil's Administra
Alcoa Corporation (NYSE:AA, ASX: AAI))) today announced a transition in its Investor Relations leadership, appointing Louis Langlois, senior vice president, Treasury and Capital Markets effective September 1, 2024. Mr. Langlois will assume responsibility for the Company's investor relations and pension investment functions from Jim Dwyer, vice president, Investor Relations and Pension Investments, who will retire on September 1 after more than 30 years of service. Mr. Langlois is currently senior vice president and treasurer. He will continue to report to Executive Vice President and Chief Financial Officer Molly Beerman. "Louis will extend the strong relationships he currently has with o
Alcoa Corporation (NYSE:AA) today announced that it has appointed Matt Reed as Alcoa's Executive Vice President and Chief Operations Officer, effective January 1, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231220861728/en/Matt Reed, Alcoa Corporation's new EVP and Chief Operations Officer effective January 1, 2024. (Photo: Business Wire) Reed, who will be based in Western Australia, will lead Alcoa's global operations, including bauxite mines, alumina refineries, and aluminum smelters. He will be accountable for operational excellence, focusing on safety, environmental management, productivity, cost management, and lon
William F. Oplinger, Current EVP and COO, Appointed President, CEO and Director Roy C. Harvey Becomes Strategic Advisor to CEO Alcoa Corporation (NYSE:AA) (the "Company") announced today that William F. Oplinger has been elected to serve as President and Chief Executive Officer of the Company and as a member of its Board of Directors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230925107514/en/William F. Oplinger (Photo: Business Wire) Oplinger succeeds Roy C. Harvey, effective September 24, 2023, who will serve as Strategic Advisor to the Chief Executive Officer until December 31, 2023. Oplinger, 56, has served as t
Plan supports continued focus on cost, operational excellence, innovation Alcoa Corporation (NYSE:AA) today announced a restructuring of its Executive Leadership Team to further improve the Company's rigorous focus on operational excellence, cost, and innovation. The changes, effective February 1, 2023, will include the reassignment of responsibilities for two existing members of the Executive Leadership Team and the appointment of a new Chief Financial Officer. William F. Oplinger, currently Executive Vice President (EVP) and Chief Financial Officer, will become EVP and Chief Operations Officer. Molly Beerman, currently Senior Vice President and Controller, has been appointed EVP and
Alcoa Corporation (NYSE:AA) today announced the appointment of a Chief Commercial Officer and a Chief Strategy Officer to its Executive Leadership Team. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220114005361/en/Kelly Thomas (Photo: Business Wire) Renato Bacchi, 45, is being promoted to Executive Vice President and Chief Strategy Officer, effective February 1, 2022. Bacchi, currently Senior Vice President of Corporate Development and Treasurer, will oversee global strategy, corporate and business development, energy, non-operated joint ventures, and the Company's Transformation business, which is focused on managing curtailed
SC 13G - Alcoa Corp (0001675149) (Subject)
SC 13G - Alcoa Corp (0001675149) (Subject)
SC 13G/A - Alcoa Corp (0001675149) (Subject)
SC 13G/A - Alcoa Corp (0001675149) (Subject)
SC 13G/A - Alcoa Corp (0001675149) (Subject)
SC 13G/A - Alcoa Corp (0001675149) (Subject)
SC 13G - Alcoa Corp (0001675149) (Subject)
SC 13G/A - Alcoa Corp (0001675149) (Subject)
SC 13G - Alcoa Corp (0001675149) (Subject)
SC 13G/A - Alcoa Corp (0001675149) (Subject)
4 - Alcoa Corp (0001675149) (Issuer)
4 - Alcoa Corp (0001675149) (Issuer)
4 - Alcoa Corp (0001675149) (Issuer)
4 - Alcoa Corp (0001675149) (Issuer)
3 - Alcoa Corp (0001675149) (Issuer)
3 - Alcoa Corp (0001675149) (Issuer)
4 - Alcoa Corp (0001675149) (Issuer)
4 - Alcoa Corp (0001675149) (Issuer)
4 - Alcoa Corp (0001675149) (Issuer)
4 - Alcoa Corp (0001675149) (Issuer)