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: 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]
0% more first-time investments, than exits
New positions opened: 84 | Existing positions closed: 84
1% less capital invested
Capital invested by funds: $6.72B [Q2] → $6.68B (-$34.3M) [Q3]
1% less call options, than puts
Call options by funds: $488M | Put options by funds: $491M
1% less funds holding
Funds holding: 481 [Q2] → 477 (-4) [Q3]
26.94% less ownership
Funds ownership: 93.99% [Q2] → 67.06% (-26.94%) [Q3]
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
2 analyst ratings
JP Morgan Bill Peterson 42% 1-year accuracy 13 / 31 met price target | 7%upside $40 | Neutral Maintained | 16 Jan 2025 |
Jefferies Chris LaFemina 60% 1-year accuracy 12 / 20 met price target | 20%upside $45 | Buy Maintained | 6 Jan 2025 |
Financial journalist opinion
Based on 22 articles about AA published over the past 30 days
