Alcoa (AA)

• Market cap: $9.78B
• 1 day: 3.33%
• 5 days: -2.62%
• 1 month: -17.27%
• 3 months: 11.85%
• 6 months: -2.92%
• Year to date: 13.60%
• 1 year: 23.46%
• 5 years: 78.24%
• 10 years: 42.74%
• Sector: Materials
• Industry: Primary Production of Aluminum

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: 300

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

79% more repeat investments, than reductions

Existing positions increased: 200 | Existing positions reduced: 112

40% more funds holding in top 10

Funds holding in top 10: 5 [Q2] → 7 (+2) [Q3]

1% more call options, than puts

Call options by funds: $488M | Put options by funds: $484M

1% less capital invested

Capital invested by funds: $6.64B [Q2] → $6.6B (-$42.4M) [Q3]

6% less first-time investments, than exits

New positions opened: 83 | Existing positions closed: 88

1% less funds holding

Funds holding: 481 [Q2] → 476 (-5) [Q3]

26.72% less ownership

Funds ownership: 92.92% [Q2] → 66.21% (-26.72%) [Q3]

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $39 3% upside
• Avg. target: $47 23% upside
• High target: $50 32% upside

5 analyst ratings

• positive: 3 60%
• neutral: 2 40%
• negative: 0 0%

Morgan Stanley Carlos De Alba 22% 1-year accuracy 5 / 23 met price target	29% upside $49	Overweight Maintained	18 Oct 2024
JP Morgan Bill Peterson 38% 1-year accuracy 10 / 26 met price target	3% upside $39	Neutral Maintained	17 Oct 2024
BMO Capital Katja Jancic 17% 1-year accuracy 2 / 12 met price target	19% upside $45	Market Perform Maintained	17 Oct 2024
B. Riley Securities Lucas Pipes 62% 1-year accuracy 71 / 114 met price target	32% upside $50	Buy Upgraded	17 Oct 2024
UBS Curt Woodworth 50% 1-year accuracy 8 / 16 met price target	32% upside $50	Buy Maintained	15 Oct 2024