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: 13,900
Fund manager confidence
Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)
84% more first-time investments, than exits
New positions opened: 103 | Existing positions closed: 56
34% more repeat investments, than reductions
Existing positions increased: 187 | Existing positions reduced: 140
14% more funds holding in top 10
Funds holding in top 10: 7 [Q3] → 8 (+1) [Q4]
8% more funds holding
Funds holding: 481 [Q3] → 521 (+40) [Q4]
1.7% more ownership
Funds ownership: 67.13% [Q3] → 68.82% (+1.7%) [Q4]
0% more capital invested
Capital invested by funds: $6.69B [Q3] → $6.71B (+$23.3M) [Q4]
1% less call options, than puts
Call options by funds: $541M | Put options by funds: $547M
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
3 analyst ratings
Morgan Stanley Carlos De Alba 25% 1-year accuracy 6 / 24 met price target | 52%upside $51 | Overweight Maintained | 28 Jan 2025 |
JP Morgan Bill Peterson 47% 1-year accuracy 17 / 36 met price target | 19%upside $40 | Neutral Maintained | 16 Jan 2025 |
Jefferies Chris LaFemina 44% 1-year accuracy 8 / 18 met price target | 34%upside $45 | Buy Maintained | 6 Jan 2025 |
Financial journalist opinion
Based on 19 articles about AA published over the past 30 days









