In yesterday’s Wall Street session, Alcoa Corp (NYSE:AA) shares traded at $29.67, down -4.38% from the previous session.
AA stock price is now 3.44% away from the 50-day moving average and -0.03% away from the 200-day moving average. The market capitalization of the company currently stands at $5.33B.
With the price target of $29, UBS recently initiated with Sell rating for Alcoa Corp (NYSE: AA). On December 07, 2023, HSBC Securities recently initiated its ‘Hold’ rating on the stock quoting a target price of $29, while ‘BofA Securities’ rates the stock as ‘Neutral’
In other news, Jones Tammi A, EVP & CHRO sold 26,468 shares of the company’s stock on Mar 13 ’24. The stock was sold for $814,582 at an average price of $30.78. Upon completion of the transaction, the EVP & CHRO now directly owns 41,166 shares in the company, valued at $1.22 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 13 ’24, EVP & CHRO Jones Tammi A sold 1,440 shares of the business’s stock. A total of $44,165 was realized by selling the stock at an average price of $30.67. This leaves the insider owning 9,265 shares of the company worth $0.27 million. A total of 1.21% of the company’s stock is owned by insiders.
During the past 12 months, Alcoa Corp has had a low of $23.07 and a high of $42.95. As of last week, the company has a debt-to-equity ratio of 0.46, a current ratio of 1.45, and a quick ratio of 0.74. The fifty day moving average price for AA is $28.68 and a two-hundred day moving average price translates $29.68 for the stock.
The latest earnings results from Alcoa Corp (NYSE: AA) was released for Dec, 2023. According to the Aluminum Company, earnings per share came in at -$0.56, beating analysts’ expectations of -$0.86 by 0.3. This compares to -$2.06 EPS in the same period last year. The net profit margin was -6.08% and return on equity was -13.96% for AA. The company reported revenue of $2.6 billion for the quarter, compared to $2.66 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.55 percent. For the current quarter, analysts expect AA to generate $2.55B in revenue.
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 two segments, 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; and flat-rolled aluminum in the form of sheet, which is sold primarily to customers that produce beverage and food cans. 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.
