Alcoa
About: Alcoa is a vertically integrated aluminum company whose operations include bauxite mining, alumina refining, and manufacturing primary aluminum. It is the world's largest bauxite miner and alumina refiner by production volume, and the eighth-largest aluminum producer. Profits are closely tied to prevailing commodity prices along the aluminum supply chain.Alcoa was the first mass producer of aluminum, launching the world-changing Hall-Heroult smelting process in the 1880s, making aluminum affordable. It listed as a public company in 1925. In 2016, Alcoa spun off its automotive and aerospace metal parts segment to focus on mining, smelting, and refining. It bought the 40% unowned balance of AWAC in mid-2024, meaning refining assets are now predominantly wholly owned, as with smelting.
Employees: 13,600
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
90% more first-time investments, than exits
New positions opened: 99 | Existing positions closed: 52
19% more capital invested
Capital invested by funds: $5.28B [Q1] → $6.3B (+$1.02B) [Q2]
11% more funds holding
Funds holding: 432 [Q1] → 479 (+47) [Q2]
1.2% more ownership
Funds ownership: 86.97% [Q1] → 88.16% (+1.2%) [Q2]
4% more call options, than puts
Call options by funds: $475M | Put options by funds: $459M
6% less repeat investments, than reductions
Existing positions increased: 140 | Existing positions reduced: 149
17% less funds holding in top 10
Funds holding in top 10: 6 [Q1] → 5 (-1) [Q2]
Research analyst outlook
12 Wall Street Analysts provided 1 year price targets over the past 3 months
12 analyst ratings
Morgan Stanley Carlos De Alba 57% 1-year accuracy 8 / 14 met price target | 15%upside $49 | Overweight Maintained | 18 Oct 2024 |
JP Morgan Bill Peterson 30% 1-year accuracy 3 / 10 met price target | 8%downside $39 | Neutral Maintained | 17 Oct 2024 |
BMO Capital Katja Jancic 14% 1-year accuracy 1 / 7 met price target | 6%upside $45 | Market Perform Maintained | 17 Oct 2024 |
B. Riley Securities Lucas Pipes 66% 1-year accuracy 31 / 47 met price target | 17%upside $50 | Buy Upgraded | 17 Oct 2024 |
UBS Curt Woodworth 44% 1-year accuracy 4 / 9 met price target | 17%upside $50 | Buy Maintained | 15 Oct 2024 |
Financial journalist opinion
Based on 23 articles about AA published over the past 30 days
