The stock of Alcoa Corp (NYSE:AA) last traded at $23.51, unchanged from the previous session.
Data from the available sources indicates that Alcoa Corp (NYSE:AA) is covered by 13 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $45.00 and a low of $23.00, we find $28.00. Given the previous closing price of $23.51, this indicates a potential upside of 19.1 percent. AA stock price is now -15.32% away from the 50-day moving average and -36.71% away from the 200-day moving average. The market capitalization of the company currently stands at $4.20B.
In total, 6 analysts have assigned it a hold rating, and 4 have given it a buy rating. Brokers who have rated the stock have averaged $31.40 as their price target over the next twelve months.
With the price target reduced from $35 to $25, BofA Securities Downgraded its rating from Buy to Neutral for Alcoa Corp (NYSE: AA).
In other news, Harvey Roy Christopher, President, CEO & Director sold 30,000 shares of the company’s stock on Feb 08. The stock was sold for $1,540,170 at an average price of $51.34. Upon completion of the transaction, the President, CEO & Director now directly owns 950,140 shares in the company, valued at $22.34 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 01, EVP & CSIO Bacchi Renato sold 10,000 shares of the business’s stock. A total of $535,000 was realized by selling the stock at an average price of $53.50. This leaves the insider owning 59,567 shares of the company worth $1.4 million. Insiders disposed of 717,302 shares of company stock worth roughly $16.86 million over the past 1 year. A total of 0.99% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AA stock. A new stake in Alcoa Corp shares was purchased by QUBE RESEARCH & TECHNOLOGIES LTD during the first quarter worth $7,679,000. HOLOCENE ADVISORS, LP invested $7,263,000 in shares of AA during the first quarter. In the first quarter, NUMERAI GP LLC acquired a new stake in Alcoa Corp valued at approximately $6,318,000. CLEAR STREET LLC acquired a new stake in AA for approximately $5,878,000. WORLDQUANT MILLENNIUM ADVISORS LLC purchased a new stake in AA valued at around $4,761,000 in the second quarter. In total, there are 739 active investors with 82.54% ownership of the company’s stock.
With an opening price of $23.98 on Friday morning, Alcoa Corp (NYSE: AA) set off the trading day. During the past 12 months, Alcoa Corp has had a low of $23.07 and a high of $57.61. As of last week, the company has a debt-to-equity ratio of 0.40, a current ratio of 1.66, and a quick ratio of 0.83. The fifty day moving average price for AA is $27.65 and a two-hundred day moving average price translates $37.01 for the stock.
The latest earnings results from Alcoa Corp (NYSE: AA) was released for Sep, 2023. According to the Aluminum Company, earnings per share came in at -$1.14, missing analysts’ expectations of -$1.02 by -0.12. This compares to -$4.30 EPS in the same period last year. The net profit margin was -8.09% and return on equity was -17.71% for AA. The company reported revenue of $2.6 billion for the quarter, compared to $2.85 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -8.73 percent. For the current quarter, analysts expect AA to generate $2.65B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/17/2023. Investors who held shares on 10/31/2023 were paid a $0.10 dividend. On an annualized basis, this represents a $0.50 dividend and a 2.13% percent yield. There was an ex-dividend date of 10/30/2023 for this dividend.
Alcoa Corp(AA) Company Profile
Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, 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 and casting 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. In addition, it owns hydro power plants that generates and sells electricity in 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 1886 and is headquartered in Pittsburgh, Pennsylvania.
