Investors in Alcoa Corporation (AA - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because theOct. 23, 2026 $62Call had some of the highest implied volatility of all equity options today.
What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?Clearly, options traders are pricing in a big move for Alcoa shares, but what is the fundamental picture for the company? Currently, Alcoa is a Zacks Rank #3 (Hold) in the Metal Products – Distribution industry that ranks in the Top 41% of our Zacks Industry Rank. Over the last 30 days, two analysts have increased their earnings estimates for the current quarter, while one has dropped the estimates. The net effect has taken our Zacks Consensus Estimate for the current quarter from $1.44 per share to $1.47 in that period.
Given the way analysts feel about Alcoa right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
Alcoa Corporation (AA) is rated Hold with a $49/share price target, reflecting robust Q3'26 results and strong aluminum pricing. Price normalization may weigh on the share price. AA's acquisition of AliGroup for $4.1B is expected to generate $900M in synergies, enhancing its integrated global platform. Strong cash flow, asset monetization ($500M–$1B targeted), and disciplined debt reduction position AA for operational flexibility post-acquisition.
Alcoa Corp. NYSE: AA stock has been cut nearly in half since its spring peak. Shares traded near $77 in May and were trading near $40 prior to the company's Q3 2026 earnings report, which the company delivered after the market closed on Oct. 15.
Alcoa Today
$41.38 -0.08 (-0.18%)
As of 03:01 PM Eastern
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$35.12▼
$84.380.97%
7.15
$62.17
That kind of drawdown usually signals a broken business or a collapsing commodity. Alcoa has neither. Aluminum prices have cooled from their spring highs, but they have not followed the stock down. Alcoa’s average realized aluminum price fell about 5% from the second quarter to the third. AA shares fell roughly ten times that.
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That gap set up the real question that Alcoa needed to answer with its report. Had the market confused a temporary operational problem with a peak in the aluminum cycle?
The operational problem is real. Instability at the Pinjarra refinery in Australia pushed the Alumina segment to a $96 million EBITDA loss in Q2. Add July’s earnings miss, and the “peak earnings” story writes itself.
The Q3 report provided a bullish rebuttal. Pinjarra is stable again. Aluminum margins remain near record levels. And Alcoa beat earnings expectations while producing its strongest free cash flow of the year.
Pinjarra Refinery Recovery Drives an Alumina ReboundAlumina production jumped 11% sequentially to 2.5 million metric tons. Management credited improved stability at Pinjarra. Segment EBITDA improved to a loss of just $1 million. That's a $95 million swing in one quarter.
Costs fell. Adjusted operating cost per ton of alumina dropped to $354 from $368. This came while realized alumina prices rose to $353 per ton from $334.
This is evidence of a temporary problem that is in the process of resolving itself. Management expects Alumina performance to hold steady in Q4 rather than slip back.
Aluminum Margins Remain Strong Despite Lower PricesAluminum segment EBITDA fell to $862 million from Q2’s record $1.07 billion. Bears will point to that decline. But context matters.
Two factors drove most of the drop. Realized aluminum prices slipped to $4,527 per ton from $4,752. Shipments fell 5% after Q2 volumes were inflated by inventory moves from Q1. Additionally, higher carbon costs added pressure.
Viewed from that lens, this doesn't look like a cycle rolling over. Q3 aluminum EBITDA was still nearly triple the $307 million from a year ago. The segment kept a margin above 28% of third-party sales.
Production kept climbing, too. Aluminum output rose for the sixth straight quarter to 649,000 metric tons. The Alumar smelter restart in Brazil is complete. Five smelters and one refinery set year-to-date production records.
Alcoa Q3 2026 Earnings Beat EstimatesAdjusted earnings per share (EPS) came in at $1.82, ahead of the $1.51 consensus. GAAP EPS rose to $1.81 from $1.53 in Q2. A year ago, adjusted EPS was a 2-cent loss.
Cash flow tells the same story. Operating cash flow was $643 million. Free cash flow reached $472 million, up from $422 million in Q2. A year ago, free cash flow was negative.
The balance sheet is ready for the AliGroup acquisition. Alcoa holds $4.4 billion in cash after a $2.6 billion bond sale. Net debt is just $414 million. South32 shareholders approved the deal on report day. Closing is expected in the first half of 2027.
Why Alcoa Stock Remains Near Its Lows Despite Strong ResultsSo why is the stock still near its lows? Partly because the market prices aluminum stocks on the next move in metal, not the last quarter.
Q4 guidance does carry modest headwinds. Management sees about $30 million in higher raw material and maintenance costs in Aluminum. Higher alumina input costs should add another $30 million. Interest expense is also rising after the bond deal.
Those are real, but small against an $862 million quarterly segment result. Management also expects higher production and shipments in both segments in Q4.
The chart reflects exhausted selling more than new information. Shares sit below a declining 50-day moving average near $47. AA bounced nearly 5% the morning after earnings. This pushed the 14-day RSI out of oversold territory, where it was before the report.
Key Risks and Catalysts for AA SharesThe bull case doesn’t require aluminum to rally. It requires aluminum to stay elevated while Alcoa’s operations keep improving. Q3 delivered both.
The risk is a further slide in metal prices. LME moves flow directly through the Aluminum segment. A sharp drop would validate the market’s peak-cycle read.
But this report points the other way. The operational issue behind the sell-off is resolved. Margins remain near historic highs. And the stock is priced as if neither were true.
That disconnect is the opportunity. The market sold Alcoa on a refinery problem and cycle fears. The quarter fixed the refinery. The cycle hasn’t turned.
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Alcoa (NYSE:AA) reported third-quarter 2026 net income attributable to the company of $483 million, or $1.81 per share, compared with $407 million in the prior quarter, as improved operating performance and higher alumina prices helped offset lower metal prices.
Adjusted net income attributable to Alcoa was $485 million, compared with $562 million in the second quarter. Adjusted EBITDA totaled $789 million. Third-quarter revenue was $3.7 billion, with the sequential change primarily reflecting lower aluminum prices, according to Chief Financial Officer Molly Beerman.
President and Chief Executive Officer William Oplinger opened the call by addressing a fatality at the company’s Alumar smelter in Brazil on Sept. 16. He said the death of an employee had affected the company and that Alcoa would seek to learn from the event, strengthen its safety culture and reinforce accountability. Operations Improve as Alumar Restart Is Completed Oplinger said Alcoa recorded six year-to-date production records during the quarter, raised aluminum production by approximately 15,000 metric tons sequentially, completed the restart of the Alumar smelter and achieved a “significant performance recovery” at its Pinjarra refinery.
In the alumina segment, third-party revenue increased 7% sequentially to $680 million, driven by higher realized alumina prices and higher shipping volumes. Segment adjusted EBITDA rose by $95 million as higher prices and improved performance at Pinjarra supported results.
Aluminum third-party revenue was $3 billion. Beerman said lower metal prices and normalized shipment levels following second-quarter inventory repositioning were partly offset by higher value-add product premiums. The aluminum segment generated adjusted EBITDA of $862 million, with productivity gains, higher molten production and cost discipline more than offset by lower prices, reduced shipments and higher carbon costs.
Alcoa ended the quarter with $4.4 billion in cash, including $2.6 billion in proceeds from a September bond issue. Cash from operations was $643 million, while free cash flow totaled $472 million in the quarter and approximately $600 million through the first nine months of 2026. Return on equity for the first nine months was 25.3%.
Beerman said Alcoa returned $80 million to shareholders through its regular quarterly dividend year to date. During the question-and-answer session, Oplinger said the company’s capital-allocation priority following its planned acquisition of AliGroup would be debt reduction rather than share repurchases.
AliGroup Deal Advances Toward 2027 Closing Alcoa said it completed $2.6 billion in debt financing for its planned AliGroup acquisition and canceled the related bridge facility. The financing, together with cash on hand, is intended to fund the $3.1 billion cash consideration for the transaction at closing.
South32 shareholders have approved the transaction, and Alcoa continues to expect the deal to close in the first half of 2027, subject to regulatory approvals. Oplinger said the company estimates the transaction’s locked-box value exceeded $300 million at the end of the third quarter based on publicly available information and South32 production guidance.
The company has established transition and integration teams and is preparing to operate the acquired assets following closing. Beerman said Alcoa has an 18-month transition services agreement with South32 that will provide support beyond the legal closing date.
Oplinger said Alcoa expects pro forma leverage of roughly 1.5 times following the acquisition. The company plans to use free cash flow, locked-box cash, transformation asset-sale proceeds and potential monetization of its Ma’aden shares to reduce debt over time.
Massena East Sale Supports Asset-Monetization Plan Alcoa also announced a definitive agreement to sell a portion of its Massena East site, with potential cash proceeds of up to $315 million. The company expects to receive $50 million to $65 million at closing, anticipated within six months pending customary conditions, with remaining consideration expected before the end of the decade. The agreement allows up to seven years for commissioning.
The transaction is the first announced step toward Alcoa’s goal of generating $500 million to $1 billion through asset monetization by 2030. Beerman said the initial development would involve at least 180 megawatts of capacity, with potential later expansions that could bring the site to as much as 635 megawatts.
Alcoa will retain remediation responsibilities at the broader Massena East site, though Beerman said the portion being sold has completed environmental remediation work. Oplinger said deal structures for future property sales could differ because each site has its own complexities.
Market Outlook and Mining Approvals Oplinger said alumina markets outside China tightened during the quarter, with the API reaching approximately $370 per metric ton. He expects further tightening in the fourth quarter and into 2027 due to announced curtailments, project delays and uncertainty around Indonesian supply additions. China, meanwhile, remains relatively well supplied as new refinery capacity has increased production and inventories.
Alcoa expects higher production and shipments in both its alumina and aluminum segments in the fourth quarter, assuming refining-system stability continues and smelter productivity gains persist. The company expects some higher direct input costs and planned maintenance expenses. Beerman clarified that the company’s performance outlook excludes commodity-price movements; higher market prices would flow through to results.
On aluminum, Oplinger said global inventories remain historically low at about 42 days of consumption. He said Alcoa’s order book remains solid, with most products sold out or tightly committed. Packaging and electrical markets are leading demand, transportation remains resilient, and construction—particularly in Europe—continues to be the weakest end market.
Alcoa said Western Australia Environmental Protection Authority review of its mine plan is taking longer than expected and is now expected to extend into 2027. The company has incorporated an additional six months of mining in current areas into its plans and said approvals by mid-2027 are not expected to materially further affect bauxite supply, quality or cost.
About Alcoa (NYSE:AA) Alcoa Corporation (NYSE:AA) is a global producer of aluminum and an integrated participant in the aluminum industry. Its operations span the value chain from bauxite mining and alumina refining to aluminum smelting, casting and recycling.
The company supplies aluminum products used in transportation, building and construction, packaging, aerospace, automotive, electrical and other industrial applications. Its portfolio includes primary aluminum, alumina, aluminum billets and other cast products, as well as low-carbon and recycled aluminum offerings.
Alcoa traces its origins to the Pittsburgh Reduction Company, founded in 1888, and has helped develop the modern aluminum industry.
On its third quarter of 2026 earnings call, held on Oct. 15, 2026, Alcoa (AA +5.67%) outlined progress on its major acquisition plans and cash generation strategy. Understanding how management balances debt reduction, asset sales, and operational efficiency provides vital context for evaluating the business over a multiyear horizon. Three key observations from management stand out.
1. Debt Reduction Takes Priority After Major Acquisition ClosesManagement completed $2.6 billion in debt financing to fund its cash acquisition of AliGroup, an aluminum producer. Paying down that debt, or deleveraging, will take priority once the transaction completes in the first half of 2027.
Following closing of the acquisition, delevering will be our priority.
-- William Oplinger, President and Chief Executive Officer2. Non-Core Asset Sales Support Capital TargetsThe company reached an agreement to sell a portion of its Massena East site for up to $315 million. The deal represents the first transaction under its asset monetization program, which aims to convert non-core property into cash through 2030.
This is the first transaction supporting our target to generate $500 million to $1 billion from asset monetization by 2030.
-- William Oplinger, President and Chief Executive Officer3. Refining and Smelting Performance Yields Operational RecordsAluminum output expanded across key facilities as smelting and refining operational stability returned. Operating improvements generated six production records year to date.
We achieved 6 year-to-date production records, increased aluminum production by approximately 15,000 metric tons sequentially, completed the Alumar smelter restart and delivered a significant performance recovery at the Pinjarra refinery.
-- William Oplinger, President and Chief Executive OfficerLooking AheadSmelting and refining operations are running with improved stability across key global sites. Low global inventories and tight regional supply in North America give the business leverage as production scales.
For the fourth quarter, we continue to expect strong operating performance across both segments, continuing the momentum from the third quarter.
-- Molly Beerman, Executive Vice President and Chief Financial OfficerManagement continues to focus on integration planning and disciplined capital allocation ahead of closing its major acquisition.
These actions demonstrate that we are executing the strategy we presented at Investor Day and strengthening Alcoa for long-term value creation.
-- William Oplinger, President and Chief Executive OfficerThe Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Alcoa (AA) shares are rising following a strong adjusted earnings performance, driven by enhanced operations and significant cash generation, which helped mitig
Alcoa (NYSE:AA), the global aluminium producer, more than doubled its third-quarter net profit year on year, although lower aluminium prices and shipments weighed on earnings compared with the previous quarter.
Net income attributable to Alcoa (NYSE:AA) rose to $483 million in the three months to September, up from $232 million a year earlier, while diluted earnings per share increased to $1.81 from $0.88.
Revenue climbed 24% year on year to $3.70 billion but fell 7% from the second quarter as lower aluminium shipments and realised prices offset improvements in the alumina business.
Adjusted earnings, which exclude certain exceptional items, reached $485 million, or $1.82 a share, compared with a loss of $6 million a year earlier, while adjusted earnings per share declined from $2.12 in the previous quarter.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), excluding special items, fell to $789 million from $901 million in the second quarter, reflecting the impact of lower aluminium prices and shipments despite improved production costs and higher alumina prices.
Cash generation remained strong, with operating cash flow reaching $643 million and free cash flow totalling $472 million, while the company ended September with $4.4 billion in cash, including financing secured for its planned acquisition of South32's assets.
Operational performance improved across the business, with alumina production rising 11% sequentially to 2.5 million metric tonnes and aluminium production increasing 2% to 649,000 tonnes.
Alcoa (NYSE:AA) also completed the restart of its Alumar smelter in Brazil and recorded year-to-date production records at five smelters and one refinery.
The company reaffirmed its 2026 production and shipment forecasts for both its alumina and aluminium divisions, while expecting higher production and shipments in both businesses during the fourth quarter.
However, planned maintenance and higher raw material costs are expected to reduce fourth-quarter aluminium segment adjusted EBITDA by about $30 million sequentially, with higher alumina costs expected to create a further $30 million headwind.
Alcoa also expects annual interest expense to reach approximately $185 million, above its previous projection following the issuance of debt to help finance the South32 transaction.
The acquisition remains on track to close in the first half of 2027 after South32 shareholders approved the deal on October 15, while Alcoa has also agreed to sell portions of its Massena East site in New York in a transaction that could generate up to $315 million as data centre capacity is developed.
Shares of Alcoa gained around 9.3% on Friday morning in New York.
Traditionally one of the first big companies to report results in any earnings season, Alcoa (AA +5.47%) stock started off the Q3 rush with some great news last night: Alcoa beat earnings.
Heading into the report, analysts had Alcoa pegged for a $1.54 per share profit, but the aluminum giant actually earned $1.82 per share (adjusted for one-time items). Granted, sales fell a bit short -- $3.7 billion versus analysts' hoped-for $3.8 billion.
But at least the earnings were good.
Image source: Getty Images.
Alcoa Q3 earningsReally good. Alcoa grew its sales 23.7%, which is an impressive number even if it did "miss estimates." But Alcoa's earnings were even better. Profits flipped from negative to positive on an adjusted basis, and earnings calculated under generally accepted accounting principles (GAAP) more than doubled to $1.81 per share (just a penny less than the "adjusted" number).
Furthermore, Alcoa generated a respectable $472 million in free cash flow for the quarter, backing up 97.7% of reported net income with real cash profit.
Profit margins increased nicely, growing from 7.7% to 13%, and CEO William F. Oplinger says that, thanks to improved refinery performance plus contributions from acquisitions, Alcoa increased its production of aluminum in the quarter as well.
AA Alcoa$42.63+$2.21 (+5.47%)
NYSE · As of 12:58 PM ET 10/16/26
What's next for AlcoaSo, more aluminum produced and sold at higher margins? Sounds pretty good to me. And Alcoa is doing its best to keep the good times rolling.
Turning to guidance, management reaffirmed its target of shipping 2.6 to 2.8 million metric tons of aluminum and 11.5 to 11.6 million metric tons of alumina (aluminum oxide) this year. Input costs may be a bit higher, weighing on profitability.
Most analysts still agree Alcoa should end 2026 with $6.81 per share in profit, however, valuing the stock at a cheap 6.3x current-year earnings.
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Americká společnost zpracovávající hliník Alcoa včera po uzavření trhu zveřejnila kvartální výsledky za 3Q. Společnost dokázala překonat očekávání na úrovni očištěného zisku na akcii. Podle agentury Bloomberg byla ziskovost podpořena větším objemem produkce hliníku a jeho cenou. Společnost rovněž potvrdila celoroční výhled.
Zdroj: Alcoa
Výsledky společnosti Alcoa (AA) za 3Q 2026
3Q 2026
Konsensus 3Q 2026
3Q 2025
Tržby (mld. USD)
3,70
3,76
3,00
Čistý zisk (mil. USD)
483,0
--
232,0
Očištěný zisk na akcii (EPS, USD/akcie)
1,82
1,49
-0,02
Hospodářské výsledky
Společnost eviduje ve 3Q výnosy ve výši 3,704 mld. USD. Ve stejném období roku 2025 činily 2,995 mld. USD. Trh očekával výnosy ve výši 3,76 mld. USD.
Výsledek hospodaření skončil v zisku 483 mil. USD. Ve stejném období roku 2025 činil zisk 232 mil. USD.
Očištěný provozní zisk EBITDA meziročně vzrostl z 270 mil. USD na 789 mil. USD. Trh očekával 738,4 mil. USD.
Produkce a dodávky
Společnost celkem vyprodukovala 649 000 tun hliníku. V meziročním srovnání se jedná o růst o 12,0 %. Trh očekával 641 102 tun. Celkové dodávky hliníku činily ke konci kvartálu 693 000 tun. Meziročně dodávky vzrostly o 13 %. Průměrná realizovaná cena za jednu tunu hliníku třetím stranám meziročně vzrostla o 34 % a činila 4 527 USD.
Alcoa ve 3Q vyprodukovala 2,47 mil. tun oxidu hlinitého, což je v souladu s očekáváním. V porovnání se stejným obdobím roku 2025 se jedná o nárůst o 0,6 %. Společnost dodala ve 3Q celkem 1,65 mil. tun oxidu hlinitého třetím stranám. Průměrná realizovaná cena za jednu tunu oxidu hlinitého třetím stranám činila 353 USD. Meziročně cena poklesla o 6,4 %.
Společnost reportovala celkovou produkci 9,3 mil. tun bauxitu. Trh predikoval produkci ve výši 8,83 mil. tun. Dodávky bauxitu třetím stranám zaznamenaly meziroční pokles o 12 % na 1,5 mil. tun. Trh očekával 1,62 mil. tun.
Výhled na rok 2026
Společnost potvrdila stávající výhled na rok 2026. Očekává celkové dodávky hliníku v rozmezí 2,6 až 2,8 mil. tun. Dále společnost stále očekává celkovou produkci hliníku v rozmezí 2,4 až 2,6 mil. tun. Očekávání trhu bylo na úrovni 2,51 mil. tun.
Celkové dodávky oxidu hlinitého by měly být dle společnosti v rozmezí 11,5 až 11,6 mil. tun. Celkovou produkci oxidu hlinitého společnost očekává v rozmezí 9,5 až 9,6 mil. tun.
Akcie Alcoa
Akcie společnosti Alcoa (AA) si dnes připisují růst o 7,72 % na 43,54 USD.
Key Takeaways Alcoa targets an H1 2027 AliGroup deal closing, backed by $2.6 billion in financing and integration plans.AA expects higher Q4 output but faces roughly $60 million in aluminum segment cost pressures.Alcoa generated $472 million in Q3 free cash flow and prioritizes debt reduction after the AliGroup deal.
Alcoa Corporation (AA - Free Report) used its third-quarter 2026 earnings call to emphasize preparations for the AliGroup acquisition, stronger operational stability and disciplined capital allocation.
Management also addressed rising input costs, delayed Australian mining approvals and commodity market conditions. Adjusted earnings of $1.82 per share beat the Zacks Consensus Estimate of $1.65, while revenues of $3.70 billion topped the consensus estimate of $3.61 billion.
Alcoa Advances AliGroup Closing PlansPresident and CEO William Oplinger said the acquisition of South32's AliGroup assets remains on track to close in the first half of 2027, following shareholder approval and progress on regulatory reviews.
Alcoa completed $2.6 billion of debt financing in September toward the approximately $3.1 billion cash consideration. Oplinger said the transaction's locked-box value exceeded $300 million at quarter-end.
During an interview with Barclays, Oplinger said an integration management office is preparing for operations from the first day of ownership. CFO Molly Beerman added that an 18-month transition services agreement with South32 will support the handover.
AA Sees Higher Volumes but Rising CostsBeerman expects higher fourth-quarter production and shipments across both segments, supported by refinery stability and incremental smelter output. Alcoa reaffirmed its annual production and shipment projections.
The company expects fourth-quarter Alumina segment performance effects on adjusted EBITDA to remain flat sequentially. Its Aluminum segment faces approximately $30 million of unfavorable effects from raw materials and planned maintenance, alongside another approximately $30 million impact from alumina costs.
Responding to JPMorgan, Beerman clarified that carbon costs account for about $10 million of the first $30 million increase. Oplinger also stressed during a Morgan Stanley exchange that the flat alumina performance outlook excludes market pricing changes.
Alcoa Outlines Diverging Commodity MarketsOplinger said alumina markets outside China tightened as the alumina price index rose to approximately $370 per metric ton. Curtailments, project delays and uncertain Indonesian supply additions underpin expectations of further tightening into 2027.
China, by contrast, remains well supplied. For aluminum, Oplinger highlighted historically low global inventories of roughly 42 days of consumption and structural regional deficits in North America and Europe.
During an interview with Wells Fargo, he estimated approximately 1.5 million metric tons of Indonesian smelting capacity could come online in 2027. Oplinger believes the global market can absorb the additional volume.
AA Targets Sustained Operational StabilityAlumina production rose 11% sequentially to 2.5 million metric tons as the Pinjarra refinery recovered. Aluminum output increased 2% to 649,000 metric tons and the Alumar smelter restart was completed.
Oplinger opened the call by addressing a fatality at the Alumar smelter in September and emphasized stronger safety controls and accountability.
Western Australia's mining approval process now extends into 2027. Responding to B. Riley, Oplinger described revised mine sequencing and production schedules designed to protect bauxite supply and quality during the delay.
Alcoa Pursues Value From Massena EastOplinger outlined an agreement to sell portions of the Massena East site for potential proceeds of up to $315 million, supporting Alcoa's $500 million to $1 billion asset monetization target by 2030.
Initial proceeds of $50 million to $65 million are expected at closing, subject to approvals and other conditions. Additional payments depend on permitted data center capacity and commissioning.
Answering JPMorgan, Oplinger said future site sales will not follow a single template. Beerman told Bank of America that Alcoa retains remediation responsibilities, although the land being sold has completed environmental remediation.
AA Prioritizes Debt Reduction After ClosingBeerman reported third-quarter free cash flow of $472 million and cash holdings of $4.4 billion, including acquisition financing proceeds.
Asked by B. Riley about share repurchases, Oplinger emphasized that deleveraging will take priority after closing. He cited free cash flow, asset sales and potential monetization of Ma'aden shares as debt-reduction resources.
Management also expects stronger through-cycle cash generation from the combined portfolio and plans to update its adjusted net debt target at closing.
Alcoa Keeps Its Focus on ExecutionManagement's forward agenda centers on completing AliGroup, sustaining production improvements and navigating higher input costs while maintaining operational reliability.
Oplinger emphasized pursuing growth that creates long-term shareholder value, while near-term capital allocation remains focused on the acquisition and subsequent debt reduction.
What AA's Zacks Rank and Style Scores IndicateAA carries a Zacks Rank #3 (Hold), reflecting a neutral near-term ranking. Its Value, Growth, Momentum and VGM Scores are A, indicating favorable characteristics across these investment approaches.
These strong grades indicate strong performance of the stock, although the framework favors stocks with a Zacks Rank #1 (Strong Buy) or 2 (Buy) with strong Style Scores. AA's Zacks Rank can change as analysts revise earnings estimates following the reported results. You can see the complete list of today’s Zacks #1 Rank stocks here.
William Oplinger, Alcoa president and CEO, joins CNBC's Morgan Brennan to talk teh companies Q3 results, its latest data center buildout news, aluminum prices, and more.
Alcoa (AA - Free Report) reported $3.7 billion in revenue for the quarter ended September 2026, representing a year-over-year increase of 23.7%. EPS of $1.82 for the same period compares to -$0.02 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.61 billion, representing a surprise of +2.49%. The company delivered an EPS surprise of +10.3%, with the consensus EPS estimate being $1.65.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Alcoa performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Bauxite production in Tons: 9.30 Mmt versus the two-analyst average estimate of 9.15 Mmt.Alumina production in Tons: 2,467.00 Kmt versus 2,443.54 Kmt estimated by two analysts on average.Aluminum production in Tons: 649.00 Kmt versus the two-analyst average estimate of 629.01 Kmt.Third-party bauxite shipments in Tons: 1,500.00 Mmt versus 1,641.96 Mmt estimated by two analysts on average.Intersegment Alumina Shipments: 1,314.00 Kmt versus 1,180.88 Kmt estimated by two analysts on average.Total aluminum shipments in Tons: 693 thousand compared to the 687.56 thousand average estimate based on two analysts.Total Third-party sales- Alumina (including Bauxite): $680 million versus $695.18 million estimated by two analysts on average.Third-party sales- Bauxite: $85 million versus the two-analyst average estimate of $95.8 million. The reported number represents a year-over-year change of -24.8%.Intersegment sales- Aluminum: $5 million compared to the $4.5 million average estimate based on two analysts. The reported number represents a change of 0% year over year.Third-party sales- Aluminum: $3.02 billion versus the two-analyst average estimate of $3.16 billion. The reported number represents a year-over-year change of +48.1%.Intersegment sales- Alumina: $542 million versus the two-analyst average estimate of $443.88 million. The reported number represents a year-over-year change of +14.4%.Third-party sales- Alumina: $595 million versus $599.38 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -29.3% change.View all Key Company Metrics for Alcoa here>>>
Shares of Alcoa have returned -13.4% over the past month versus the Zacks S&P 500 composite's +1.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
O’Reilly Automotive’s Stock Slump Hides a Stronger BusinessAlcoa NYSE: AA reported third-quarter 2026 net income attributable to the company of $483 million, or $1.81 per share, compared with $407 million in the prior quarter, as improved operating performance and higher alumina prices helped offset lower metal prices.
Adjusted net income attributable to Alcoa was $485 million, compared with $562 million in the second quarter. Adjusted EBITDA totaled $789 million. Third-quarter revenue was $3.7 billion, with the sequential change primarily reflecting lower aluminum prices, according to Chief Financial Officer Molly Beerman.
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Alcoa’s Gallium Project Opens a New Door Beyond AluminumPresident and Chief Executive Officer William Oplinger opened the call by addressing a fatality at the company's Alumar smelter in Brazil on Sept. 16. He said the death of an employee had affected the company and that Alcoa would seek to learn from the event, strengthen its safety culture and reinforce accountability.
Operations Improve as Alumar Restart Is Completed Oplinger said Alcoa recorded six year-to-date production records during the quarter, raised aluminum production by approximately 15,000 metric tons sequentially, completed the restart of the Alumar smelter and achieved a “significant performance recovery” at its Pinjarra refinery.
Advance Auto Parts Plunged, But Its Turnaround Is Still WorkingIn the alumina segment, third-party revenue increased 7% sequentially to $680 million, driven by higher realized alumina prices and higher shipping volumes. Segment adjusted EBITDA rose by $95 million as higher prices and improved performance at Pinjarra supported results.
Aluminum third-party revenue was $3 billion. Beerman said lower metal prices and normalized shipment levels following second-quarter inventory repositioning were partly offset by higher value-add product premiums. The aluminum segment generated adjusted EBITDA of $862 million, with productivity gains, higher molten production and cost discipline more than offset by lower prices, reduced shipments and higher carbon costs.
Alcoa ended the quarter with $4.4 billion in cash, including $2.6 billion in proceeds from a September bond issue. Cash from operations was $643 million, while free cash flow totaled $472 million in the quarter and approximately $600 million through the first nine months of 2026. Return on equity for the first nine months was 25.3%.
Beerman said Alcoa returned $80 million to shareholders through its regular quarterly dividend year to date. During the question-and-answer session, Oplinger said the company’s capital-allocation priority following its planned acquisition of AliGroup would be debt reduction rather than share repurchases.
AliGroup Deal Advances Toward 2027 Closing Alcoa said it completed $2.6 billion in debt financing for its planned AliGroup acquisition and canceled the related bridge facility. The financing, together with cash on hand, is intended to fund the $3.1 billion cash consideration for the transaction at closing.
South32 shareholders have approved the transaction, and Alcoa continues to expect the deal to close in the first half of 2027, subject to regulatory approvals. Oplinger said the company estimates the transaction's locked-box value exceeded $300 million at the end of the third quarter based on publicly available information and South32 production guidance.
The company has established transition and integration teams and is preparing to operate the acquired assets following closing. Beerman said Alcoa has an 18-month transition services agreement with South32 that will provide support beyond the legal closing date.
Oplinger said Alcoa expects pro forma leverage of roughly 1.5 times following the acquisition. The company plans to use free cash flow, locked-box cash, transformation asset-sale proceeds and potential monetization of its Ma’aden shares to reduce debt over time.
Massena East Sale Supports Asset-Monetization Plan Alcoa also announced a definitive agreement to sell a portion of its Massena East site, with potential cash proceeds of up to $315 million. The company expects to receive $50 million to $65 million at closing, anticipated within six months pending customary conditions, with remaining consideration expected before the end of the decade. The agreement allows up to seven years for commissioning.
The transaction is the first announced step toward Alcoa’s goal of generating $500 million to $1 billion through asset monetization by 2030. Beerman said the initial development would involve at least 180 megawatts of capacity, with potential later expansions that could bring the site to as much as 635 megawatts.
Alcoa will retain remediation responsibilities at the broader Massena East site, though Beerman said the portion being sold has completed environmental remediation work. Oplinger said deal structures for future property sales could differ because each site has its own complexities.
Market Outlook and Mining Approvals Oplinger said alumina markets outside China tightened during the quarter, with the API reaching approximately $370 per metric ton. He expects further tightening in the fourth quarter and into 2027 due to announced curtailments, project delays and uncertainty around Indonesian supply additions. China, meanwhile, remains relatively well supplied as new refinery capacity has increased production and inventories.
Alcoa expects higher production and shipments in both its alumina and aluminum segments in the fourth quarter, assuming refining-system stability continues and smelter productivity gains persist. The company expects some higher direct input costs and planned maintenance expenses. Beerman clarified that the company’s performance outlook excludes commodity-price movements; higher market prices would flow through to results.
On aluminum, Oplinger said global inventories remain historically low at about 42 days of consumption. He said Alcoa’s order book remains solid, with most products sold out or tightly committed. Packaging and electrical markets are leading demand, transportation remains resilient, and construction—particularly in Europe—continues to be the weakest end market.
Alcoa said Western Australia Environmental Protection Authority review of its mine plan is taking longer than expected and is now expected to extend into 2027. The company has incorporated an additional six months of mining in current areas into its plans and said approvals by mid-2027 are not expected to materially further affect bauxite supply, quality or cost.
About Alcoa (NYSE:AA)Alcoa Corporation NYSE: AA is a global producer of aluminum and an integrated participant in the aluminum industry. Its operations span the value chain from bauxite mining and alumina refining to aluminum smelting, casting and recycling.
The company supplies aluminum products used in transportation, building and construction, packaging, aerospace, automotive, electrical and other industrial applications. Its portfolio includes primary aluminum, alumina, aluminum billets and other cast products, as well as low-carbon and recycled aluminum offerings.
Alcoa traces its origins to the Pittsburgh Reduction Company, founded in 1888, and has helped develop the modern aluminum industry.
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PITTSBURGH--(BUSINESS WIRE)--Alcoa Corporation (NYSE: AA; ASX: AAI) (“Alcoa” or the “Company”) today announced that its Board of Directors has declared a quarterly cash dividend of $0.10 per share of the Company's common stock, to be paid on November 13, 2026 to stockholders of record as of the close of business on October 27, 2026.About Alcoa CorporationAlcoa is a global industry leader in bauxite, alumina and aluminum products with a Vision to build a legacy of excellence for future generation.
PITTSBURGH--(BUSINESS WIRE)--Alcoa Corporation (NYSE: AA; ASX: AAI) (Alcoa or the Company) today reported results for the third quarter 2026, a period that included strong cash generation and continued progress on the Company's operational and strategic priorities. Financial Results and Highlights M, except per share amounts 3Q26 2Q26 3Q25 Revenue $ 3,704 $ 3,966 $ 2,995 Net income attributable to Alcoa Corporation $ 483 $ 407 $ 232 Earnings per common share $ 1.81 $ 1.53 .
Alcoa posted a quarterly profit of $483 million, up from $232 million a year earlier, after the company worked to improve operations and boost production.
South32 Ltd (LSE:S32, ASX:S32, FRA:32Z, OTC:SHTLF, JSE:S32) shareholders will vote today on the proposed $8 billion sale of its aluminium and alumina assets to Alcoa (NYSE:AA), a transaction that would reshape the miner's portfolio and accelerate its transition towards higher-growth base metals.
The vote at South32's annual general meeting marks a significant step in the company's strategy to move beyond its origins as a BHP spin-off and concentrate investment on copper, silver, lead, zinc and manganese.
Announced in September, the cash-and-share transaction includes South32's 86% interest in Worsley Alumina, Hillside Aluminium, its 33% stake in the MRN Bauxite Mine, 36% interest in the Alumar Alumina Refinery and 40% stake in the Alumar Aluminium Smelter.
Mozal Aluminium, currently on care and maintenance, is excluded from the agreement, with completion expected in the first half of 2027.
Sale reshapes portfolio and reduces liabilities
The divestment would also transfer significant environmental and rehabilitation obligations to Alcoa, releasing approximately $1.1 billion in provisions from South32's balance sheet.
The Australian Shareholders' Association (ASA) highlighted the reduction in exposure to greenhouse gas emissions, native forest clearing associated with bauxite mining and the management of operational tailings.
South32 plans to distribute 50% of the Alcoa shares received as consideration directly to shareholders and is considering whether to return a greater proportion of the sale proceeds.
However, the portfolio transition could require substantial capital investment and potentially a revised dividend policy as the company advances its development projects.
The ASA cautioned that operating earnings could face a temporary decline between completion of the sale and the commissioning of new projects.
Independent expert backs transaction
Independent expert Grant Samuel concluded that the transaction was fair, reasonable and in shareholders' best interests, provided Alcoa shares remain above US$31 and no superior offer emerges before completion.
Alcoa shares last closed at US$40.08 on the New York Stock Exchange, comfortably above the expert's valuation threshold.
The meeting will also mark the first annual general meeting for South32 chair Stephen Pearce, who assumed the role in March, and chief executive Matt Daley, who took over on July 1.
The ASA has confirmed it will vote proxies strictly in accordance with shareholders' instructions.
AA is poised for strong Q3 2026 revenue and earnings growth, fueled by aluminum sales and smelter restarts, but alumina weakness and rising costs loom.
Sigma Lithium (NASDAQ:SGML – Get Free Report) and Alcoa (NYSE:AA – Get Free Report) are both materials companies, but which is the superior investment? We will compare the two businesses based on the strength of their institutional ownership, dividends, risk, valuation, analyst recommendations, profitability and earnings.
Risk and Volatility Sigma Lithium has a beta of 0.67, indicating that its share price is 33% less volatile than the S&P 500. Comparatively, Alcoa has a beta of 1.74, indicating that its share price is 74% more volatile than the S&P 500.
Profitability This table compares Sigma Lithium and Alcoa’s net margins, return on equity and return on assets.
Net Margins Return on Equity Return on Assets Sigma Lithium -19.36% -37.40% -7.66% Alcoa 9.48% 18.90% 7.71% Analyst Recommendations This is a summary of recent recommendations for Sigma Lithium and Alcoa, as provided by MarketBeat.com. Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Sigma Lithium 3 3 2 0 1.88 Alcoa 1 5 7 0 2.46 Sigma Lithium currently has a consensus price target of $14.30, indicating a potential upside of 62.32%. Alcoa has a consensus price target of $61.00, indicating a potential upside of 46.17%. Given Sigma Lithium’s higher possible upside, equities analysts clearly believe Sigma Lithium is more favorable than Alcoa.
Earnings & Valuation This table compares Sigma Lithium and Alcoa”s top-line revenue, earnings per share and valuation.
Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Sigma Lithium $142.49 million 6.96 -$50.19 million ($0.24) -36.71 Alcoa $13.60 billion 0.81 $1.16 billion $4.86 8.59 Alcoa has higher revenue and earnings than Sigma Lithium. Sigma Lithium is trading at a lower price-to-earnings ratio than Alcoa, indicating that it is currently the more affordable of the two stocks.
Institutional and Insider Ownership 64.9% of Sigma Lithium shares are owned by institutional investors. Comparatively, 82.4% of Alcoa shares are owned by institutional investors. 48.6% of Sigma Lithium shares are owned by insiders. Comparatively, 0.4% of Alcoa shares are owned by insiders. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a company will outperform the market over the long term.
Summary Alcoa beats Sigma Lithium on 11 of the 14 factors compared between the two stocks.
About Sigma Lithium (Get Free Report)
Sigma Lithium Corporation engages in the exploration and development of lithium deposits in Brazil. It holds a 100% interest in the Grota do Cirilo, Genipapo, Santa Clara, and São José properties comprising 29 mineral rights covering an area of approximately 185 square kilometers located in the Araçuaí and Itinga regions of the state of Minas Gerais, Brazil. It serves electric vehicle industries worldwide. The company was formerly known as Sigma Lithium Resources Corporation and changed its name to Sigma Lithium Corporation in July 2021. The company is headquartered in São Paulo, Brazil.
About Alcoa (Get Free Report)
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.
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In its upcoming report, Alcoa (AA - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $1.65 per share, reflecting an increase of 8350% compared to the same period last year. Revenues are forecasted to be $3.61 billion, representing a year-over-year increase of 20.7%.
The consensus EPS estimate for the quarter has undergone an upward revision of 10.8% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Bearing this in mind, let's now explore the average estimates of specific Alcoa metrics that are commonly monitored and projected by Wall Street analysts.
The average prediction of analysts places 'Total sales- Aluminum' at $3.08 billion. The estimate points to a change of +50.7% from the year-ago quarter.
Analysts forecast 'Total sales- Alumina' to reach $1.14 billion. The estimate indicates a change of -19.9% from the prior-year quarter.
According to the collective judgment of analysts, 'Third-party sales- Aluminum' should come in at $3.16 billion. The estimate indicates a year-over-year change of +55%.
The collective assessment of analysts points to an estimated 'Third-party sales- Alumina' of $599.38 million. The estimate indicates a year-over-year change of -28.7%.
The consensus estimate for 'Average realized third-party price per metric ton of alumina' stands at $345.67 . The estimate is in contrast to the year-ago figure of $377.00 .
It is projected by analysts that the 'Average realized third-party price per metric ton of aluminum' will reach $4649.36 . The estimate compares to the year-ago value of $3374.00 .
Analysts predict that the 'Average cost per metric ton of aluminum shipped' will reach $2475.13 . The estimate compares to the year-ago value of $2441.00 .
Analysts' assessment points toward 'Third-party alumina shipments in Tons' reaching 1768 thousands metric tons. Compared to the current estimate, the company reported 2205 thousands metric tons in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Alumina production in Tons' should arrive at 2444 thousands metric tons. The estimate compares to the year-ago value of 2453 thousands metric tons.
Analysts expect 'Aluminum production in Tons' to come in at 629 thousands metric tons. Compared to the present estimate, the company reported 579 thousands metric tons in the same quarter last year.
The consensus among analysts is that 'Bauxite production in Tons' will reach 9 millions of metric ton. The estimate is in contrast to the year-ago figure of 9 millions of metric ton.
The combined assessment of analysts suggests that 'Intersegment Alumina Shipments' will likely reach 1181 thousands metric tons. Compared to the current estimate, the company reported 1112 thousands metric tons in the same quarter of the previous year.
View all Key Company Metrics for Alcoa here>>>
Alcoa shares have witnessed a change of -12.6% in the past month, in contrast to the Zacks S&P 500 composite's +2.4% move. With a Zacks Rank #3 (Hold), AA is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Ausbil Investment Management Ltd acquired a new stake in Alcoa (NYSE:AA – Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,000 shares of the industrial products company’s stock, valued at approximately $588,000.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Alcoa during the 2nd quarter worth $1,528,523,000. Quantbot Technologies LP bought a new position in shares of Alcoa during the second quarter worth about $1,179,000. Fifth Third Bancorp lifted its stake in shares of Alcoa by 3,061.2% in the first quarter. Fifth Third Bancorp now owns 63,098 shares of the industrial products company’s stock worth $4,185,000 after acquiring an additional 61,102 shares during the period. XY Capital Ltd bought a new stake in Alcoa in the first quarter valued at approximately $1,662,000. Finally, Advisors Preferred LLC bought a new stake in Alcoa in the first quarter valued at approximately $1,613,000.
Wall Street Analyst Weigh In A number of equities research analysts have recently commented on AA shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alcoa in a research note on Monday, September 14th. JPMorgan Chase & Co. dropped their price objective on Alcoa from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday. Freedom Broker upped their target price on Alcoa from $64.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, September 22nd. Morgan Stanley dropped their price target on Alcoa from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $61.00.
Check Out Our Latest Stock Report on AA Insider Activity In other news, EVP Tammi Jones sold 15,628 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $50.60, for a total transaction of $790,776.80. Following the completion of the sale, the executive vice president directly owned 39,819 shares of the company’s stock, valued at $2,014,841.40. The trade was a 28.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Renato Bacchi sold 700 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $51.02, for a total transaction of $35,714.00. Following the completion of the sale, the executive vice president owned 74,930 shares in the company, valued at $3,822,928.60. This represents a 0.93% decrease in their position. The disclosure for this sale is available in the SEC filing.
Alcoa Price Performance Shares of NYSE:AA opened at $42.48 on Thursday. Alcoa has a twelve month low of $35.01 and a twelve month high of $84.38. The stock’s 50 day moving average is $47.67 and its 200-day moving average is $56.81. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $11.21 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 0.48 and a beta of 1.74.
Alcoa (NYSE:AA – Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.13). The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.99 billion. Alcoa had a net margin of 9.48% and a return on equity of 18.90%. During the same period in the previous year, the business posted $0.39 EPS. Sell-side analysts forecast that Alcoa will post 6.61 EPS for the current fiscal year.
Alcoa Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, August 11th. Alcoa’s dividend payout ratio (DPR) is currently 8.23%.
Alcoa Company Profile (Free Report)
Alcoa Corporation (NYSE:AA) is a global producer of aluminum and an integrated participant in the aluminum industry. Its operations span the value chain from bauxite mining and alumina refining to aluminum smelting, casting and recycling.
The company supplies aluminum products used in transportation, building and construction, packaging, aerospace, automotive, electrical and other industrial applications. Its portfolio includes primary aluminum, alumina, aluminum billets and other cast products, as well as low-carbon and recycled aluminum offerings.
Alcoa traces its origins to the Pittsburgh Reduction Company, founded in 1888, and has helped develop the modern aluminum industry.
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Alcoa Corporation (NYSE:AA) will release earnings for its third quarter after the closing bell on Thursday, Oct. 15.
Analysts expect the Pittsburgh, Pennsylvania-based company to report quarterly earnings of $1.47 per share, versus a loss of 2 cents per share in the year-ago period. The consensus estimate for AA’s quarterly revenue is $3.75 billion. It reported $3 billion last year, according to Benzinga Pro.
On July 16, Alcoa reported mixed second-quarter financial results.
Alcoa shares rose 3.7% to close at $43.49 on Monday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
Freedom Broker analyst Vitaly Kononov maintained a Buy rating and increased the price target from $64 to $76 on Sept. 22, 2026. This analyst has an accuracy rate of 72%. Wells Fargo analyst Timna Tanners maintained an Overweight rating and cut the price target from $71 to $60 on Sept. 18, 2026. This analyst has an accuracy rate of 64%. Argus Research analyst Alexandra Yates maintained the stock with a Buy rating and slashed the price target from $73 to $55 on July 22, 2026. This analyst has an accuracy rate of 59%. BMO Capital analyst Katja Jancic maintained a Market Perform rating and cut the price target from $60 to $55 on July 17, 2026. This analyst has an accuracy rate of 74%. JP Morgan analyst Bill Peterson maintained the stock with a Neutral rating and cut the price target from $55 to $52 on July 17, 2026. This analyst has an accuracy rate of 60%. Considering buying AA stock? Here’s what analysts think:
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Rezpegaldesleukin-associated improvements were detected as early as Week 2 and were significantly correlated with subsequent clinical response
, /PRNewswire/ -- Nektar Therapeutics (Nasdaq: NKTR) and collaborators at the Icahn School of Medicine at Mount Sinai today announced new results from a multi-omic biomarker sub-study from REZOLVE-AD providing further evidence that rezpegaldesleukin engages its regulatory Tcell (Treg)-mediated mechanism in patients with moderate-to-severe atopic dermatitis, with significant biomarker changes associated with clinical improvement observed as early as Week 2.
Rezpegaldesleukin is an investigational first-in-class Treg biologic designed to address imbalances in the immune system that underlie many autoimmune disorders and chronic inflammatory conditions. It targets the IL-2 receptor complex to preferentially stimulate the proliferation of Tregs to restore immune balance.
Atopic dermatitis (AD) is a chronic inflammatory skin disease characterized by Tcell–mediated immune dysregulation highly impacting patients' quality of life. Although current biologics effectively target type 2 inflammation, more than 50% of adults report inadequately controlled disease despite treatment.1
The data were presented today in a late breaking oral presentation at the European Academy of Dermatology and Venereology (EADV) Congress 2026 in Vienna, Austria entitled "Multi-omic profiling identifies early molecular responses to rezpegaldesleukin, a novel regulatory T cell-inducing therapy, in atopic dermatitis" [link to presentation].
"More than half of adults with atopic dermatitis report inadequately controlled disease despite treatment with currently available biologics that target type 2 inflammation, underscoring the complexity of treating this heterogeneous disease and leaving a major unmet need for a novel approach to immune modulation," said Emma Guttman-Yassky, M.D., Ph.D., Waldman Professor of Dermatology and Immunology and Health System Chair of the Kimberly and Eric J. Waldman Department of Dermatology at the Icahn School of Medicine at Mount Sinai. "These data show that rezpegaldesleukin's novel approach to regulatory Tcell stimulation has the potential to treat patients with heterogeneous disease in atopic dermatitis and other autoimmune disease settings."
Dr. Guttman-Yassky continued, "Within 2 weeks of treatment, we observed significant systemic and cutaneous normalization across multiple disease associated pathways. Importantly, these early molecular changes correlated with clinical outcomes at Week 16 only in the rezpegaldesleukin-treated patients, providing a meaningful link between the biological activity of rezpegaldesleukin and the subsequent clinical benefit."
The biomarker sub-study analyzed blood and lesional skin tape samples from 100 patients in the Phase 2b REZOLVE-AD study during the 16-week induction period, including 59 patients treated with the planned Phase 3 rezpegaldesleukin dose of 24 µg/kg every two weeks (Q2W) and 41 patients who received placebo. Samples were collected at baseline and at Weeks 2 and 4, while clinical assessments were conducted at baseline and every two weeks through Week 16.
The analysis was designed to profile gene and protein expression in the skin and serum during the first weeks of treatment and to assess whether early molecular signals were associated with later clinical outcomes. Patients in the rezpegaldesleukin and placebo arms were well balanced across demographics and baseline disease characteristics. The mean reduction from baseline in Eczema Area and Severity Index (EASI) at Week 16 was 64% in the molecular cohort, consistent with the 61% reduction observed in the overall 24 µg/kg every two weeks (Q2W) cohort.
Highlights from the REZOLVE-AD Multi-omic Biomarker Sub-study
Rezpegaldesleukin induced rapid Treg-associated molecular changes, including significant up-regulation of FOXP3 and IL2RA as early as week 2 of treatment as compared to baseline, with concurrent modulation of multiple immune pathways which are dysregulated in patients with atopic dermatitis.Transcriptomic and proteomic analyses demonstrated significant systemic and cutaneous normalization across multiple immune pathways, including Th1, Th2, Th17, and JAK-STAT signaling pathways, as early as week 2 of treatment as compared to baseline, including early modulation of fibrosis- and tissue-remodeling biomarkers.Proteomic analysis demonstrated significant improvements in cardiovascular, atherosclerotic, and alopecia areata signatures as compared to baseline or placebo.Early serum biomarker changes at week 2, including increases in IL-10 and TGFβ1 expression and reduction in CCL17/TARC expression, were associated with subsequent EASI improvement at Week 16, linking early molecular effects with later clinical response. Correlations between early biomarker changes and Week 16 EASI improvement were statistically significant in the rezpegaldesleukin-treated patients but not in placebo-treated patients (pThese findings support rezpegaldesleukin as a Treg-directed approach to heterogeneous inflammatory diseases, including atopic dermatitis and others, through early normalization of dysregulated immune pathways."These data further solidify rezpegaldesleukin's potential to restore immune balance by stimulating regulatory Tcells rather than suppressing a single inflammatory pathway, highlighting its promise as a pipeline in a product," said Jonathan Zalevsky, Ph.D., Chief Research and Development Officer at Nektar Therapeutics. "This latest analysis highlights both the breadth and speed of the molecular response, strengthening our confidence in rezpegaldesleukin's differentiated mechanism of action as we advance the program through Phase 3."
About REZOLVE-AD Phase 2b Study
The global 393-patient Phase 2b REZOLVE-AD (NCT06136741) study was conducted in patients with moderate-to-severe atopic dermatitis who had not previously been treated with a JAK inhibitor or other biologic. Patients were randomized (3:3:3:2) to receive subcutaneous rezpegaldesleukin at one of three dose regimens: 24 µg/kg every two weeks (Q2W), 18 µg/kg Q2W, or 24 µg/kg every four weeks (Q4W). A fourth arm received placebo Q2W. Primary and key secondary endpoints were assessed at Week 16. Following the induction period, rezpegaldesleukin-treated patients who achieved EASI percent reductions of at least 50 were re-randomized (1:1) to continue at the same dose level on a Q4W or Q12W regimen through Week 52 in a blinded maintenance period. Placebo patients with EASI percent score reductions of at least 50 continued to receive placebo Q4W.
About Rezpegaldesleukin
Autoimmune and inflammatory diseases cause the immune system to mistakenly attack and damage healthy cells in a person's body. A failure of the body's self-tolerance mechanisms enables the formation of the pathogenic T lymphocytes that conduct this attack. Rezpegaldesleukin is a potential first-in-class disease modifying therapeutic that may address this underlying immune system imbalance in people with many autoimmune and inflammatory conditions. It targets the interleukin-2 receptor complex in the body to stimulate proliferation of powerful inhibitory immune cells known as regulatory Tcells. By activating these cells, rezpegaldesleukin may act to bring the immune system back into balance.
In February 2025, the U.S. FDA granted Fast Track designation for rezpegaldesleukin for the treatment of adult and pediatric patients 12 years of age and older with moderate-to-severe atopic dermatitis whose disease is not adequately controlled with topical prescription therapies or when those therapies are not advisable. In July 2025, the FDA granted Fast Track designation for rezpegaldesleukin for the treatment of severe alopecia areata (AA) in adults and pediatric patients 12 years of age and older who weigh at least 40 kg.
Rezpegaldesleukin is being developed as a self-administered injection for a number of autoimmune and inflammatory diseases, including atopic dermatitis, alopecia areata and Type 1 diabetes. It is wholly owned by Nektar Therapeutics.
About Atopic Dermatitis
Atopic dermatitis is the most common type of eczema, affecting approximately 30 million people in the United States.2 AD is characterized by a defect in the skin barrier, which allows allergens and other irritants to enter the skin, leading to an immune reaction and inflammation.
About Nektar Therapeutics
Nektar Therapeutics is a clinical-stage biotechnology company focused on developing treatments that address the underlying immunological dysfunction in autoimmune and chronic inflammatory diseases. Nektar's lead product candidate, rezpegaldesleukin (REZPEG, or NKTR-358), is a novel, first-in-class regulatory Tcell stimulator being evaluated in atopic dermatitis, alopecia areata, and Type 1 diabetes mellitus. Nektar's pipeline also includes preclinical bivalent tumor necrosis factor receptor type II (TNFR2) antibody and bispecific programs, NKTR-0165 and NKTR-0166, and a modified hematopoietic colony stimulating factor (CSF) protein, NKTR-422.
Nektar is headquartered in San Francisco, California. For further information, visit www.nektar.com and follow us on LinkedIn.
This press release contains forward-looking statements which can be identified by words such as: "can," "develop," "potential," "expand," "address," "may," "plan" and similar references to future periods. Examples of forward-looking statements include, among others, statements regarding the safety and efficacy profile and therapeutic potential of, and future development plans for, rezpegaldesleukin, NKTR-0165, NKTR-0166, and NKTR-422, and potential patient preferences and market adoption related thereto, and plans and timing of future data releases. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include, among others: (i) our statements regarding the therapeutic potential of rezpegaldesleukin, NKTR-0165, NKTR-0166 and NKTR-422 are based on preclinical and clinical findings and observations and are subject to change as research and development continue; (ii) rezpegaldesleukin, NKTR-0165, NKTR-0166 and NKTR-422 are investigational agents and continued research and development for these drug candidates is subject to substantial risks, including negative safety and efficacy findings in future clinical studies (notwithstanding positive findings in earlier preclinical and clinical studies); (iii) rezpegaldesleukin, NKTR-0165, NKTR-0166 and NKTR-422 are in clinical development and the risk of failure is high and can unexpectedly occur at any stage prior to regulatory approval; (iv) data reported from ongoing clinical trials are necessarily interim data only and the final results will change based on continuing observations; (v) early molecular signals observed in REZOLVE-AD may not be associated with later clinical outcomes in future clinical trials; (vi) the timing of the commencement or end of clinical trials and the availability of clinical data may be delayed or unsuccessful due to regulatory delays, slower than anticipated patient enrollment, manufacturing challenges, changing standards of care, evolving regulatory requirements, clinical trial design, clinical outcomes, competitive factors, or delay or failure in ultimately obtaining regulatory approval in one or more important markets; (vii) a Fast Track designation does not increase the likelihood that rezpegaldesleukin will receive marketing approval in the United States; (viii) patents may not issue from our patent applications for our drug candidates, patents that have issued may not be enforceable, or additional intellectual property licenses from third parties may be required; and (ix) certain other important risks and uncertainties set forth in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 13, 2026 and our subsequent filings. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Susan Roberts
LifeSci Communications
202-779-0929
[email protected]
Lio P, Mackie D, Bates D, Mulvihill E, Patel M, Kim Y, Shi V. Burden, Control, and Treatment of Moderate to Severe Atopic Dermatitis in 2021: A United States Patient Survey Study. J Drugs Dermatol. 2023 Feb 1;22(2):119-131. doi: 10.36849/JDD.7071. PMID: 36745377.Eczema stats. National Eczema Association. (2022, September 27). https://nationaleczema.org/research/eczema-facts/ View original content to download multimedia:https://www.prnewswire.com/news-releases/new-biomarker-data-presented-in-a-late-breaking-oral-presentation-at-eadv-congress-2026-showing-early-molecular-responses-to-rezpegaldesleukin-across-multiple-immune-pathways-dysregulated-in-patients-with-atopic-dermatitis-302894328.html
The S&P/ASX Small Ordinaries fell sharply at the open on Friday as broad market weakness swept through the smaller end of the Australian share market, with uranium stocks among the early decliners.
The XSO was trading around 3,361 at 10.14am AEST, down about 40.7 points, or 1.2%, after opening at its session high of 3,401.7 and falling to a low of 3,361.
The decline left the index down 21.4 points, or 0.63%, over five sessions. It was also about 16% below its 52-week high of 4,007.1, but remained about 5.5% above the 52-week low of 3,184.5.
The small-cap retreat followed a softer opening across the broader market, with the S&P/ASX 200 down about 0.4% shortly after trading began. Elevated oil prices and rising global bond yields kept pressure on risk appetite, while the XSO’s fall from its opening print indicated selling was broad and immediate rather than being driven by a single stock.
Despite the weak index, Healius Limited delivered a double-digit gain after confirming a major asset sale, while uranium companies Bannerman Energy Limited, Boss Energy Limited and NexGen Energy Limited moved lower together.
Healius jumps on A$160 million Agilex sale Healius Limited was the standout early riser, climbing 11.11% to A$0.40 on turnover of about 4.75 million shares after resuming trade with an agreement to sell Agilex Biolabs to Novotech Health Holdings.
The transaction values Agilex at A$160 million and represents 19.8 times the business’s financial year 2026 earnings before interest, tax, depreciation and amortisation on a pre-AASB 16 basis.
Healius expects to receive about A$155 million in cash after separation and transaction costs and does not anticipate a tax liability. The proceeds are expected to leave the company in a net cash position and sharpen its focus on its core Australian pathology operations.
Completion is targeted for the second half of the 2027 financial year and remains subject to conditions including approval from the Foreign Investment Review Board and the Australian Competition and Consumer Commission. Healius said it would provide more detail about the use of the proceeds closer to completion.
Uranium names fall together Uranium stocks accounted for three of the five largest early declines within the index.
Bannerman Energy Limited fell 3.65% to A$3.70, Boss Energy Limited declined 3.57% to A$1.567 and NexGen Energy Limited lost 3.39% to A$13.11.
The clustered losses point to sector-wide pressure rather than a company-specific development. Uranium spot prices eased 0.42% to around US$89.37 a pound in the preceding session, while a basket of uranium equities fell by an average of about 2.9%.
There was no fresh price-sensitive operating announcement from the three companies explaining the early declines. The move instead appeared consistent with overnight weakness in global uranium equities, profit-taking and a risk-off environment shaped by higher long-term bond yields.
Higher yields can be particularly challenging for capital-intensive mining developments because they increase financing costs and reduce the present value investors assign to future production.
That short-term pressure sits against a more supportive longer-term uranium backdrop centred on growing nuclear-power demand and the need for sustained investment in new mine supply.
Other early movers The Star Entertainment Group Limited fell 3.45% to A$0.14, while Alcoa (NYSE:AA) Corporation declined 3.42% to A$60.45.
Outside Healius, the early advancers recorded more modest gains. Auckland International Airport Limited rose 2.37% to A$6.90, SkyCity Entertainment Group Limited added 1.92% to A$0.53 and Zip Co Limited gained 1.76% to A$2.02.
Zip’s move represented a partial rebound after the shares fell more than 11% in the previous session.
Tuas Limited added 1.68% to A$1.82, continuing to stabilise after dropping 23.4% earlier in the week following its full-year results.
Tuas reported 24% revenue growth to S$187.6 million and a 22% increase in underlying EBITDA to S$83.8 million, but the market focused on weaker-than-expected subscriber growth, additional capital expenditure and the lapse of its proposed M1 acquisition.
With the figures captured only minutes after the opening bell, the rankings remain vulnerable to rapid changes in price and volume as initial orders clear and liquidity builds through the session.
Ticker symbols to change from FGNX and FGNXP to FGC and FGCPP on Nasdaq
Charlotte, NC, Sept. 24, 2026 (GLOBE NEWSWIRE) -- FG Nexus (Nasdaq: FGNX, FGNXP) (the “Company”) announced that it has filed a Certificate of Amendment to its amended and restated articles of incorporation with the Nevada Secretary of State. Pursuant to the Certificate of Amendment, the Company will change its name to FG Communities Holdings Inc. In conjunction with the name change, the Company’s ticker symbols on The Nasdaq Stock Market will change as follows to: FGC for its Common Stock replacing the previous symbol “FGNX” and FGCPP for its Series A Preferred Shares, replacing the previous symbol “FGNXP,” effective at market open on Monday, September 28, 2026.
Kyle Cerminara, Chairman and CEO, commented, “We have made tremendous progress evolving our business model, and the new name better reflects our transformation into a leading owner and operator of land-lease affordable housing communities. We look forward to driving sustained long-term value for our shareholders.”
About FG Nexus Inc.
FG Nexus (Nasdaq: FGNX, FGNXP) is a merchant bank and real estate focused operating company.
The FGNX® logo is a registered trademark.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are entitled to the protection of the safe-harbor provisions of those laws.
Forward-looking statements include statements concerning the closing and anticipated benefits of the Company’s proposed investment in FG Communities; the Company’s strategy to make direct investments in affordable housing communities; the acquisition, ownership, operation and financing of manufactured housing communities; the use of cash, debt financing and proceeds from common-stock issuances to fund acquisitions; the proposed corporate name and ticker-symbol changes; future share repurchases; the Company’s acquisition pipeline and growth strategy; and the anticipated size and long-term characteristics of the manufactured housing market.
These statements are based on management’s current expectations, assumptions, estimates and projections and involve risks and uncertainties, many of which are beyond the Company’s control. Actual results could differ materially from those expressed or implied by these statements.
Relevant risks include, among others, the Company’s ability to complete the proposed investment on anticipated terms; obtain required corporate, regulatory and Nasdaq approvals; successfully identify, finance, complete and integrate property acquisitions; obtain debt or equity financing on acceptable terms; manage leverage and potential dilution from equity issuances; realize anticipated operating and financial benefits; maintain adequate liquidity; and appropriately manage potential conflicts of interest arising from related-party transactions.
Additional risks are described in the Company’s filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of this release. The Company undertakes no obligation to update or revise any forward-looking statement except as required by law.
PITTSBURGH--(BUSINESS WIRE)--Alcoa Corporation (NYSE:AA, ASX:AAI) (“Alcoa”) announced today the closing of the offering of $2,600,000,000 aggregate principal amount of senior notes (the “notes”), consisting of $1,500,000,000 aggregate principal amount of 6.625% senior notes due 2034 issued by Alumina Pty Ltd (ABN 85 004 820 419) (“Alumina”) and $1,100,000,000 aggregate principal amount of 6.875% senior notes due 2036 issued by Alcoa Nederland Holding B.V. (together with Alumina, the “Issuers”).
South32 is poised to unlock financial flexibility via its proposed aluminum asset sale, enabling reinvestment in longer-life base metal projects. SOUHY's robust earnings growth, strong copper/silver prices, and disciplined project execution underpin a shift toward lower funding risk and higher long-term value creation. The Alcoa deal, if approved, delivers $3.1B cash, Alcoa shares, and contingent upside, while streamlining operations and reducing management complexity.
Nykredit A S bought a new stake in shares of Alcoa (NYSE:AA – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,031,634 shares of the industrial products company’s stock, valued at approximately $53,789,000. Nykredit A S owned approximately 0.39% of Alcoa as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also bought and sold shares of the stock. Allianz Asset Management GmbH lifted its position in shares of Alcoa by 182.8% in the second quarter. Allianz Asset Management GmbH now owns 9,819 shares of the industrial products company’s stock worth $512,000 after buying an additional 6,347 shares in the last quarter. Corient Private Wealth LP increased its position in Alcoa by 301.8% in the second quarter. Corient Private Wealth LP now owns 44,110 shares of the industrial products company’s stock worth $2,300,000 after purchasing an additional 33,131 shares during the last quarter. HighTower Advisors LLC increased its position in Alcoa by 378.7% in the second quarter. HighTower Advisors LLC now owns 351,442 shares of the industrial products company’s stock worth $18,324,000 after purchasing an additional 278,031 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Alcoa during the second quarter valued at $3,853,000. Finally, HB Wealth Management LLC raised its stake in Alcoa by 2.3% during the second quarter. HB Wealth Management LLC now owns 13,200 shares of the industrial products company’s stock valued at $688,000 after purchasing an additional 293 shares in the last quarter.
Wall Street Analysts Forecast Growth A number of equities analysts have recently commented on the company. Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. B. Riley Financial decreased their price target on Alcoa from $92.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Morgan Stanley restated an “equal weight” rating and issued a $53.00 target price (down from $79.00) on shares of Alcoa in a report on Wednesday, July 8th. Royal Bank Of Canada set a $70.00 price target on shares of Alcoa in a research note on Wednesday, July 1st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Alcoa in a report on Monday. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.09.
Check Out Our Latest Analysis on Alcoa Insiders Place Their Bets In other news, EVP Tammi A. Jones sold 15,628 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $50.60, for a total transaction of $790,776.80. Following the sale, the executive vice president owned 39,819 shares in the company, valued at approximately $2,014,841.40. The trade was a 28.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Renato Bacchi sold 700 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $51.02, for a total transaction of $35,714.00. Following the transaction, the executive vice president owned 74,930 shares in the company, valued at approximately $3,822,928.60. This trade represents a 0.93% decrease in their position. The SEC filing for this sale provides additional information.
Alcoa Stock Performance Shares of NYSE:AA opened at $44.37 on Friday. The firm has a 50 day moving average of $48.34 and a 200 day moving average of $58.68. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 0.53 and a beta of 1.63. Alcoa has a 52 week low of $30.81 and a 52 week high of $84.38.
Alcoa (NYSE:AA – Get Free Report) last announced its earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.13). The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.99 billion. Alcoa had a net margin of 9.48% and a return on equity of 18.90%. During the same period last year, the business posted $0.39 EPS. On average, sell-side analysts predict that Alcoa will post 6.55 earnings per share for the current fiscal year.
Alcoa Announces Dividend The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. Alcoa’s dividend payout ratio is presently 8.23%.
About Alcoa (Free Report)
Alcoa Corporation (NYSE:AA) is a global producer of bauxite, alumina and aluminum. Its operations span the aluminum value chain, including bauxite mining, alumina refining, aluminum smelting, casting and the production of select value-added aluminum products. The company serves customers in industries such as transportation, aerospace, construction, packaging, consumer products and energy.
Founded in 1888 as the Pittsburgh Reduction Company, Alcoa played a major role in developing the commercial aluminum industry and adopted the Alcoa name in 1907.
See Also Five stocks we like better than Alcoa J.B. Hunt’s Stock Plunges After Market Misprices Profit Warning 2 Stocks Breaking Out Post-FOMC With One Thing in Common Lennar’s Q3 Miss Hides a Stronger Operating Story Beneath the Housing Slump These 3 Stocks Are Drawing Insider Buyers for Very Different Reasons Want to see what other hedge funds are holding AA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alcoa (NYSE:AA – Free Report).
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PITTSBURGH--(BUSINESS WIRE)--Alcoa Corporation (NYSE: AA; ASX: AAI) plans to announce its third quarter 2026 financial results on Thursday, October 15, 2026, after the close of trading on the New York Stock Exchange. Alcoa will host a conference call to discuss the third quarter 2026 financial results on October 15, 2026, at 5:00 p.m. EDT (October 16, 2026, at 8:00 a.m. AEDT). The call will be webcast live via Alcoa's website, www.alcoa.com.
The third quarter 2026 earnings press release with financial results, and a related presentation, will be available on the “Investors” section of Alcoa’s website, www.alcoa.com. A link to the press release will also be on Alcoa’s X handle @Alcoa at www.X.com/Alcoa.
Conference Call Information
Time:
Thursday, October 15, 2026: 5:00 p.m.–6:00 p.m. EDT
Friday, October 16, 2026: 8:00 a.m.–9:00 a.m. AEDT
Hosts:
William Oplinger, President and Chief Executive Officer
Molly Beerman, Executive Vice President and Chief Financial Officer
Webcast:
Go to the “Investors” section of the Alcoa website to listen only and view presentation slides.
Call:
+1 (877) 883-0383 (Domestic)
+1 (412) 902-6506 (International)
Conference ID: 5195547
Replay Information:
A telephone replay will be available at approximately 8:00 p.m. EDT on October 15 until October 22, 2026.
+1 (855) 669-9658 (Domestic)
+1 (412) 317-0088 (International)
Replay Access Code: 9494255
To access the replay using an international dial-in number, please select this link:
The webcast will also be archived on the “Events & Presentations” portion of the “Investors” section of www.alcoa.com at this link: Alcoa Corporation - Events & Presentations - Events
About Alcoa Corporation
Alcoa is a global industry leader in alumina and aluminum products with a Vision to build a legacy of excellence for future generations. Since developing the process that made aluminum an affordable and vital part of modern life, our talented Alcoans have developed breakthrough innovations and best practices that have led to greater safety, efficiency, sustainability and stronger communities wherever we operate.
Dissemination of Company Information
Alcoa intends to make future announcements regarding company developments and financial performance through its website, www.alcoa.com, as well as through press releases, filings with the Securities and Exchange Commission, conference calls, media broadcasts, and webcasts. Alcoa does not incorporate the information contained on, or accessible through, its corporate website or such other websites or platforms referenced herein into this press release.
Alcoa’s Gallium Project Opens a New Door Beyond AluminumAlcoa NYSE: AA CFO Molly Beerman said the aluminum producer is carrying momentum from the second quarter into the third quarter, supported by strong production, pricing realization and demand from customers in North America and Europe.
Speaking at the Jefferies Global Industrials Conference 2026, Beerman said Alcoa set production records at five operations during the second quarter and continued that performance into the third quarter. She said the company’s customers have sought regionally located supply amid uncertainty surrounding Middle Eastern production.
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Alumina surplus persists while aluminum remains in deficit Advance Auto Parts Plunged, But Its Turnaround Is Still WorkingBeerman said the alumina market remains in surplus despite a recent price rebound to approximately $350. She cited disruption at Alunorte, the approaching October 2026 curtailment at Yarwun, and expectations that Middle Eastern smelters will consume more alumina as factors influencing market sentiment.
However, she said alumina is expected to remain oversupplied through the remainder of 2026 and likely into 2027, until Indonesian smelters begin operating and increase their consumption of alumina.
Forging Profits: The Executive Order Sparking AluminumIn aluminum, Alcoa continues to see a global deficit outside China, according to Beerman. China is largely self-sufficient, she said, and its exports are not material to the broader global market. North America and Europe have the largest deficits, she added.
Alcoa’s value-add product order book is nearly sold out for the rest of 2026, Beerman said, as the company enters the 2027 contracting season with an opportunity to secure favorable premiums.
Tariff scenarios could benefit Alcoa Beerman said Alcoa is positioned to benefit under a range of potential trade-policy outcomes. The company has 900,000 Canadian tons, with most shipped into the United States. At current 50% tariff levels, Alcoa is paying more than $1 billion in tariffs, although the Midwest premium is compensating the company for those costs and providing margin because of tight metal availability, she said.
If Canada received a favorable tariff rate, cutting the tariff burden in half could provide a significant benefit, Beerman said. A quota system could also be favorable to the company.
She noted that the U.S. needs to import roughly 4 million metric tons of aluminum supply, while Canada can supply only about 3 million metric tons. If additional trading partners received tariff relief to cover the remaining imports, the Midwest premium could decline, but Beerman said she does not expect it to return to pre-tariff levels because the U.S. would still need to encourage imports.
South32 transaction targets scale, synergies and cash generation Beerman discussed Alcoa’s proposed acquisition of South32’s bauxite, alumina and aluminum assets, referred to by the company as the AliGroup transaction. The deal, Alcoa’s largest acquisition, is expected to close in the second half of 2027.
The assets include a mine and refinery in Western Australia, South32’s minority interest in the Alumar smelter and refinery in Brazil, and the Hillside Aluminium operation in South Africa. Beerman said the assets are familiar to Alcoa, are positioned slightly better on the cost curve than the company’s existing portfolio and are expected to provide additional scale and financial flexibility.
Alcoa expects approximately $900 million in net present value synergies from the transaction. The company expects to capture an initial $50 million annually from procurement, logistics and commercial benefits within 12 months of closing. Further synergies are expected from applying Alcoa’s operating practices and process technology to the acquired facilities, followed by longer-term savings from optimizing mine plans in Western Australia.
Beerman said the acquired assets do not require catch-up capital investment. Alcoa expects the transaction to add $350 million to $450 million in annual capital expenditures, in addition to its existing capital spending outlook. The company previously guided for $750 million in capital expenditures in 2026, approximately $800 million annually for the following three years, and then a return to $750 million.
Deleveraging remains a priority Alcoa issued $2.6 billion of debt in connection with the acquisition, raising pro forma adjusted net debt to $4.7 billion compared with pro forma EBITDA of $3.2 billion, Beerman said. She said the company intends to prioritize deleveraging through cash generation from the combined portfolio, potential monetization of its $1.6 billion Ma’aden investment beginning in 2028, and proceeds from the sale of transformation assets.
Alcoa expects its transformation asset program to generate $500 million to $1 billion in proceeds by 2030. Beerman said a potential transaction involving the closed Massena East smelter site and a data center developer is progressing through approvals and could be announced shortly. Proceeds would be directed toward debt reduction, she said.
The company’s working capital historically builds in the first quarter and declines during the rest of the year, Beerman said. Alcoa generated solid cash in the second quarter and expects continued cash generation in the third quarter, with working capital typically reaching its best levels at year-end.
Packaging, electrical products support demand Beerman said packaging demand is strong in North America and Europe, with substantial slab volumes shipped to customers in both markets. Demand for rod products, used in electrical infrastructure, is also robust, and Alcoa is sold out of rod capacity, she said.
Foundry products for automotive applications remain strong as manufacturers continue to seek lightweight materials, according to Beerman. The only notable weakness she identified was billet demand in Europe, where customers are cautious because of geopolitical conditions and uncertainty surrounding their own end-market demand.
On energy, Beerman said 99% of Alcoa’s power requirements are covered by long-term contracts, fixed-price arrangements or self-generation. The company recently renegotiated a renewable-power agreement for its Massena, New York, smelter that runs for 10 years with two five-year renewal options.
About Alcoa (NYSE:AA)Alcoa Corporation NYSE: AA is a global producer of bauxite, alumina and aluminum. Its operations span the aluminum value chain, including bauxite mining, alumina refining, aluminum smelting, casting and the production of select value-added aluminum products. The company serves customers in industries such as transportation, aerospace, construction, packaging, consumer products and energy.
Founded in 1888 as the Pittsburgh Reduction Company, Alcoa played a major role in developing the commercial aluminum industry and adopted the Alcoa name in 1907.
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Investors in Alcoa Corporation (AA - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the Sept. 18, 2026 $20.00 Call had some of the highest implied volatility of all equity options today.
What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?Clearly, options traders are pricing in a big move for Alcoa shares, but what is the fundamental picture for the company? Currently, Alcoa is a Zacks Rank #4 (Sell) in the Metal Products - Distribution industry that ranks in the Top 29% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while three analysts have revised their estimates downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from $1.66 per share to $1.56 in that period.
Given the way analysts feel about Alcoa right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
PITTSBURGH--(BUSINESS WIRE)--Alcoa Corporation (NYSE: AA; ASX: AAI) (“Alcoa”) announced today the pricing of the previously announced offering of $2,600,000,000 aggregate principal amount of senior notes (the “notes”), consisting of $1,500,000,000 aggregate principal amount of 6.625% Senior Notes due 2034 to be issued by Alumina Pty Ltd (ABN 85 004 820 419) (“Alumina”) and $1,100,000,000 aggregate principal amount of 6.875% Senior Notes due 2036 to be issued by Alcoa Nederland Holding B.V. (tog.
PITTSBURGH--(BUSINESS WIRE)--Alcoa Corporation (NYSE:AA, ASX:AAI) (“Alcoa”) announced today a proposed offering of $2,600,000,000 aggregate principal amount of senior notes (the “notes”), consisting of senior notes due 2034 to be issued by Alumina Pty Ltd (ABN 85 004 820 419) (“Alumina”) and senior notes due 2036 to be issued by Alcoa Nederland Holding B.V. (together with Alumina, the “Issuers”). Each of the Issuers is a wholly-owned subsidiary of Alcoa. The notes will be guaranteed on a senior.
Alcoa is rated Buy, driven by strong cash generation, disciplined capital allocation, and a deep valuation discount versus peers. The South32 asset acquisition boosts AA's alumina capacity by 53% and aluminum by 37%, with $900M in synergy value and immediate accretion to EPS and cash flow expected. AA's pro forma leverage remains manageable (~2x), with $1.4B cash and a flexible financing plan, supporting integration and future capital deployment.
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Wells Fargo just raised its Alcoa price target well above what the rest of Wall Street believes the stock is worth, and the reasoning traces back to a single CFO conversation about Middle East energy risk that changed everything.
Alcoa Corp. (NYSE:AA | AA Price Prediction) had been a materials sector standout this year, with shares gaining more than 48% from January through their year-to-date (YTD) high on June 2. However, since then, the stock has cratered and is down more than 40% from that YTD high.
Still, over the past year, AA is up 57.34% and Wells Fargo remains bullish. After meeting with Alcoa’s CFO, the firm raised its price target to $68 from $64, maintaining an Equal Weight rating. Shares traded around $50 on Tuesday. Aug. 25, so that target represents a sizable 36% upside potential. The $68 target sits well above the Street’s $48.25 consensus, implying Wells Fargo sees structural value the broader analyst community is missing. But can AA realistically reach $68 by end of 2026?
Wells Fargo’s $68 AA Prediction The upgrade follows a CFO conversation that left Wells Fargo more comfortable with Alcoa’s limited energy cost risk in the Middle East. Natural gas, a key input for aluminum smelting, spiked to $7.72 per million BTU in January 2026 before retreating to $3.62 in February, reducing near-term margin pressure. As of Aug. 25, that figure stands at $2.72. The firm’s primary concern centers on Alcoa’s 3.5 million metric ton per year of alumina shipments to the region, where demand disruption would carry more weight than energy costs alone.
Key Drivers of AA Stock Performance Earnings momentum: Alcoa has beat on earnings in seven of the past nine quarters. Despite misses in Q1 and Q2, the company reported healthy financials, including Q2 net income of $407 million, a massive year-over-year jump from Q2 2025’s $164 million. The company reports Q3 results on Oct. 21. Strategic asset monetization: Alcoa is selling 10 closed or curtailed smelting sites to data center developers, with CEO Bill Oplinger expecting the first sale completed by June 2026. Combined with the $3.3 billion offer to acquire Alumina Limited, these moves strengthen the long-term asset base and unlock hidden portfolio value. Production expansion and technology leadership: Alcoa set annual production records at five aluminum smelters and one alumina refinery in 2025, with 2026 guidance calling for aluminum production of 2.4 to 2.6 million metric tons. The ELYSIS carbon-free smelting program hit a key milestone with the first 450kA inert anode cell started at Rio Tinto’s Alma smelter in Quebec, positioning Alcoa ahead of decarbonization mandates shaping aluminum demand for decades. What Will It Take for AA to Reach $68? At 263.84 million shares outstanding, a $68 price would imply a market capitalization of approximately $17.94 billion. Getting there requires three things: alumina shipments to the Middle East holding firm, continued aluminum price strength, and execution on the first data center site sale by mid-year. The Q1 2026 sequential EBITDA headwind of approximately $100 million from San Ciprian restart costs and absent CO2 compensation is a known near-term drag, but the full-year production ramp should absorb it.
The primary risk is a tariff policy reversal reopening U.S. markets to cheaper foreign aluminum, which rattled shares significantly when rollback reports emerged in February 2026. Even so, with a debt-to-EBITDA ratio of just 0.67x and a balance sheet carrying $1.597 billion in cash, Alcoa has the financial durability to weather policy volatility — and Wells Fargo’s $68 target reflects a business that has structurally transformed itself into a compounding asset worthy of long-term retirement portfolios.
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The global semiconductor supply chain has a critical vulnerability that traces back to a single raw material. Used in everything from advanced military radar to next-generation artificial intelligence (AI) hardware, gallium is a critical material for modern technology. With foreign monopolies actively restricting the export of this critical mineral, Western governments are aggressively seeking domestic alternatives.
Alcoa Today
$50.35 +0.03 (+0.06%)
As of 08/28/2026 03:58 PM Eastern
$30.21▼
$84.380.79%
10.36
$61.09
Enter an unlikely hero in this geopolitical tug-of-war. By leveraging existing infrastructure, Alcoa Corporation NYSE: AA is quietly transforming from a traditional industrial miner into an indispensable technology asset. Alcoa recently broke ground on a facility in Western Australia designed to extract gallium directly from existing refining processes. This strategic maneuver bypasses the long delays typical of greenfield mining projects, positioning Alcoa to capture lucrative government subsidies and premium off-take agreements. The combination of this critical mineral pivot with deep fundamental value sets the stage for a compelling valuation re-rating.
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The Genius of Permitting ArbitrageTo fully grasp the full scale of this operation, investors should look at the regulatory landscape of modern mining. Permitting a new mine often takes upwards of 10 years in Western jurisdictions. This regulatory friction stifles the rapid supply chain shifts required by the technology and defense sectors, especially following recent export restrictions imposed by dominant Eastern suppliers. Alcoa bypasses much of this bottleneck at its Wagerup alumina refinery. Instead of digging a new hole in the ground, engineers are retrofitting the existing circuit to extract gallium directly from the Bayer process liquor. Because gallium exists in trace amounts within bauxite ore, it naturally concentrates in the liquid byproduct of standard alumina refining.
This operational efficiency translates to unmatched speed-to-market. The newly backed facility aims to produce around 100 metric tons of refined gallium annually. Capital expenditure for a project of this scope carries inherent risk, but Alcoa has reduced some of the development risk. The United States and Australian governments are funneling strategic capital into the project through established defense frameworks to secure non-monopolized supply chains.
The project already has a confirmed off-take partner in Japan's Sojitz Corporation, operating through the Japan Australia Gallium Associates joint venture. When a materials producer can extract a high-margin critical mineral from an existing waste stream, with partial government subsidies and guaranteed international buyers, it creates a powerful catalyst for long-term margin expansion.
Fueling the Furnace: The Aluminum Cash Cow RoarsWhile the gallium narrative provides the growth catalyst, the legacy aluminum business remains the financial engine. It is easy to look at a recent quarterly earnings miss, where earnings per share came in at $2.12 against a $2.25 consensus, and assume the core business is dragging. A deeper look at profitability metrics reveals a highly efficient industrial machine capable of funding its own modernization without stretching its balance sheet.
Alcoa boasts a robust trailing 12-month return on equity hovering near 19%, alongside net margins closing in on 9.5%. Generating roughly $1.16 billion in trailing net income gives management the financial flexibility to fund high-tech pivots while weathering standard commodity cycles. Management also rewards patience, offering a dividend yield of around 0.78%. Backed by a highly sustainable payout ratio of about 8% based on trailing earnings, the dividend remains safe.
Alcoa is aggressively consolidating its upstream footprint to secure this cash cow. The recent strategic agreement to acquire South32's aluminum assets creates a highly accretive growth narrative. By expanding its foundational bauxite and alumina operations, Alcoa solidifies its pricing power in the traditional metals market. Simultaneously, this upstream expansion increases the raw volume of refining liquor available across its portfolio, inadvertently scaling its future capacity for critical mineral extraction.
From Industrial Miner to Tech ProxyThe broader market is currently pricing Alcoa as a cyclical legacy miner, largely ignoring its emerging role as a subsidized defense and technology proxy. The stock trades at a depressed forward price-to-earnings ratio of about 7.8. This is a discount relative to the broader materials sector and an even steeper one relative to technology hardware companies that rely on its output.
Current Price$50.35High Forecast$80.00Average Forecast$61.09Low Forecast$41.00Alcoa Stock Forecast Details
This valuation disconnect represents a severe mispricing. While the consensus 12-month price target sits near $61, representing around 23% upside from recent trading levels, the upper bounds of institutional expectations point to considerably more upside.
The high-end price target stands at $80, suggesting a potential upside of nearly 56%. This elevated target aligns with the multiple expansion expected when institutional capital fully recognizes the structural shift in Alcoa's revenue streams. Traditional miners typically command single-digit multiples, but specialty chemical and critical mineral suppliers frequently command multiples in the mid-to-high teens.
Market mechanics reflect this underlying strength. Short interest remains relatively healthy at about 4.14% of the float, and recent options data shows a notable spike in bullish call volume following the Wagerup groundbreaking. Institutional ownership is exceptionally stable, anchored by long-term holders providing a solid floor for the stock as the transition takes hold.
Beyond Bauxite: The Alcoa BlueprintThe transition from a traditional aluminum producer to a critical node in the semiconductor supply chain will naturally take time to reflect on the balance sheet. The gallium stream is a high-margin byproduct, but it will take a few quarters for these revenues to meaningfully offset some of the cyclical volatility in the broader global aluminum market. If Western governments heavily subsidize multiple refineries globally in a panic to secure materials, there is a long-term risk of market oversupply that could compress future gallium margins.
The immediate reality is that governments are desperate to secure critical minerals today. Alcoa already has the infrastructure, regulatory workarounds, and off-take agreements in place. As the Wagerup facility scales toward operational status, the market could begin pricing in this tech-adjacent premium. Investors building exposure to the semiconductor and defense sectors may want to add Alcoa to their watchlist before the broader market fully prices in the geopolitical implications of its evolving operating model.
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Should You Invest $1,000 in Alcoa Right Now?Before you consider Alcoa, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alcoa wasn't on the list.
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PITTSBURGH--(BUSINESS WIRE)--Alcoa Corporation (“Alcoa”) will participate in a live webcast session at the Jefferies Global Industrials Conference in New York City on Thursday, September 10, 2026. At 11:30 a.m. EDT, an Alcoa executive will participate in a question-and-answer session regarding Alcoa's business and outlook in the current market, including factors that could affect the present quarter's financial results. A slide presentation, to be used in connection with the conference and inve.
PERTH, Australia--(BUSINESS WIRE)--Today, the governments and industry partners of Australia, Japan and the United States, together with Alcoa Corporation (NYSE: AA; ASX: AAI) (“Alcoa”), held a groundbreaking ceremony for the gallium production plant. The ceremony marked the start of construction of the new facility co-located at Alcoa's Wagerup alumina refinery in Western Australia. The gallium project, which Alcoa will construct and operate, brings together government and industry partners fr.
BlackRock Inc. bought a new stake in Alcoa (NYSE: AA) in the undefined quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 29,315,742 shares of the industrial products company's stock, valued at approximately $1,528,523,000. BlackRock Inc. owned 11.11% of Alcoa as of
shares rose 3.0% to a current price of $51.54, while trading within a 52-week range of $28.92 to $84.38. This price movement comes amidst a backdrop of significant volatility, reflecting both the stock's recent performance and broader market conditions.
GF Value™ verdict: The current price is $51.54, which is 56.3% above the estimated fair value of $32.97, indicating the stock is significantly overvalued.GF Score™: Alcoa Corp holds a score of 67/100, suggesting it is above average compared to its peers.Most notable signal: Insider activity shows that insiders sold $0.5M in stock over the past 12 months, signaling caution among those closest to the company.Is AA Overvalued or Undervalued?According to the GF Value™, Alcoa Corp is currently overvalued, with a market price of $51.54 compared to its fair value estimate of $32.97. This represents a significant 56.3% margin of overvaluation, which poses risks for potential investors. The GF Valuation label classifies the stock as "Significantly Overvalued," meaning that the market price considerably exceeds the intrinsic value derived from historical trading multiples and growth estimates.
The substantial overvaluation indicates that the current market sentiment may not be supported by the underlying financial fundamentals of the company. Thus, investors should approach any new positions with caution as the risk of a price correction remains high.
How Does AA's Valuation Compare to Its History?MetricCurrentHistoricalP/E (TTM)10.6x11.4xForward P/E8.6xN/AAlcoa's current P/E ratio of 10.6x is slightly below its 5-year median P/E of 11.4x, indicating that the stock is trading at a lower valuation compared to its historical averages. Furthermore, the forward P/E of 8.6x suggests that analysts expect future earnings to improve. However, this historical P/E analysis aligns with the GF Value™ verdict, reinforcing the notion that the stock is overvalued despite showing a comparatively lower P/E ratio.
What Does AA's GF Score™ Tell Us?The GF Score™ is a comprehensive measure that evaluates a company's financial strength, profitability, growth potential, valuation, and momentum. With a score of 67/100, Alcoa Corp is positioned above average. The strongest sub-rank is the Momentum rank at 8/10, indicating robust price performance in the near term. Conversely, the weakest area is the Valuation rank at 3/10, highlighting concerns regarding the stock's current price relative to its fundamentals.
MetricRatingGF Score™67Financial Strength7/10Profitability5/10Growth4/10Valuation3/10Momentum8/10The overall GF Score™ suggests that while Alcoa Corp exhibits solid financial strength and momentum, its weak valuation rank raises red flags for potential overvaluation. Investors may want to consider these mixed signals when evaluating the stock.
What Are Gurus and Insiders Doing with AA?Currently, 6 gurus hold shares of Alcoa Corp, with 3 adding to their positions while 6 have trimmed their holdings in recent quarters. This mixed activity among institutional investors suggests a cautious sentiment towards the stock. The insider selling of $0.5M over the past 12 months, without any buying activity, further indicates a lack of confidence among company insiders, which could be a cause for concern for prospective investors.
This pattern of insider selling, coupled with a majority of gurus trimming their positions, suggests that there may be apprehension about the stock's future performance, reinforcing the GF Value™ assessment of significant overvaluation.
What This Means for InvestorsIn conclusion, Alcoa Corp appears to be overvalued based on the GF Value™ assessment, with a significant margin above its estimated fair value. The mixed signals from both gurus and insiders, combined with the low valuation rank, suggest that potential investors should approach this stock with caution. For further insights, please visit the Alcoa Corp
AA +3.04% 67
stock page.
Frequently Asked QuestionsWhat is AA's GF Score™?
Alcoa Corp has a GF Score™ of 67/100, indicating that it is above average compared to its peers in terms of financial and operational metrics.
Is AA overvalued or undervalued?
According to the GF Value™, Alcoa Corp is currently overvalued, with its market price significantly exceeding its estimated fair value.
What is AA's P/E ratio?
The current P/E ratio for Alcoa Corp is 10.6x, which is below its 5-year median of 11.4x, suggesting that while it is trading at a lower historical valuation, it is still considered overvalued based on GF Value™.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Alberta Investment Management Corp purchased a new position in shares of Alcoa (NYSE:AA – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 84,700 shares of the industrial products company’s stock, valued at approximately $4,416,000.
A number of other hedge funds have also bought and sold shares of the stock. Checchi Capital Advisers LLC raised its stake in Alcoa by 3.4% in the 1st quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company’s stock worth $341,000 after acquiring an additional 170 shares during the last quarter. Essential Partners LLC lifted its holdings in shares of Alcoa by 0.9% during the first quarter. Essential Partners LLC now owns 20,525 shares of the industrial products company’s stock worth $1,361,000 after purchasing an additional 193 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its position in Alcoa by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company’s stock valued at $3,079,000 after buying an additional 229 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in Alcoa by 1.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock worth $722,000 after buying an additional 241 shares during the period. Finally, Himension Capital Singapore PTE. LTD. raised its position in Alcoa by 1.3% during the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 18,626 shares of the industrial products company’s stock worth $1,235,000 after buying an additional 246 shares during the last quarter.
Analyst Ratings Changes AA has been the topic of a number of research reports. Bank of America cut their price objective on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a research note on Thursday, July 9th. Wells Fargo & Company dropped their target price on Alcoa from $72.00 to $71.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. JPMorgan Chase & Co. reduced their price target on Alcoa from $55.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. BMO Capital Markets decreased their price target on Alcoa from $60.00 to $55.00 and set a “market perform” rating for the company in a report on Friday, July 17th. Finally, Royal Bank Of Canada set a $70.00 price objective on Alcoa in a research report on Wednesday, July 1st. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.09.
View Our Latest Stock Report on Alcoa Alcoa Price Performance Alcoa stock opened at $51.81 on Tuesday. The company’s fifty day moving average price is $51.58 and its 200 day moving average price is $60.49. Alcoa has a 1 year low of $28.92 and a 1 year high of $84.38. The stock has a market capitalization of $13.67 billion, a P/E ratio of 10.66, a P/E/G ratio of 0.57 and a beta of 1.63. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53.
Alcoa (NYSE:AA – Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same quarter in the prior year, the company posted $0.39 earnings per share. As a group, equities research analysts anticipate that Alcoa will post 6.55 earnings per share for the current fiscal year.
Alcoa Announces Dividend The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, August 11th. Alcoa’s payout ratio is presently 8.23%.
Alcoa Profile (Free Report)
Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.
Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.
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shares rose 3.5% to $51.71, reflecting a 52-week range of $28.92 to $84.38. This recent increase positions the stock as a notable performer over the past year, gaining 66.7% despite a year-to-date decline of 2.2%.
GF Value™ verdict: Currently priced at $51.71, AA is 57.0% overvalued compared to the estimated fair value of $32.94. GF Score™ of 68/100 indicates an above-average rating, suggesting moderate financial health and operational efficiency. Most notable signal: Insiders have sold $0.2 million worth of shares in the past 12 months without any buying activity. Is AA Overvalued or Undervalued? According to the GF Value™, Alcoa Corp is currently overvalued, with a fair value estimate of $32.94, which indicates a significant 57.0% margin of safety if the stock were to revert to this valuation. The GF Valuation label indicates that AA is significantly overvalued at its current market price. Such a discrepancy raises concerns about the sustainability of the current price levels, especially in light of the company’s financial metrics and the broader market environment.
GF Value™ is a proprietary intrinsic-value estimate derived from historical trading multiples, past business growth, and future performance expectations. Given the current price greatly exceeds this intrinsic value, potential investors may need to exercise caution, as this suggests a risk of price correction in the future.
How Does AA's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 10.6x 11.5x Forward P/E 8.6x N/A The current P/E ratio of 10.6x is approximately 8% below its 5-year median of 11.5x, indicating that the stock is trading below its historical valuation metrics. This P/E analysis aligns with the GF Value™ verdict, suggesting that while the stock appears relatively cheap compared to its historical averages, it remains overvalued when compared to its intrinsic value estimate.
What Does AA's GF Score™ Tell Us? The GF Score™ measures a stock's potential based on financial strength, profitability, growth potential, valuation, and momentum. Alcoa Corp has a GF Score™ of 68/100, indicating it has some strong attributes, but also areas that require improvement. The strongest sub-rank is in momentum (10/10), suggesting strong recent performance, while the weakest sub-rank is in valuation (3/10), reflecting concerns over its current pricing.
Metric Rating GF Score™ 68/100 Financial Strength 7/10 Profitability 5/10 Growth 4/10 Valuation 3/10 Momentum 10/10 The scores illustrate that while Alcoa Corp has solid momentum and financial strength, its profitability, growth, and particularly its valuation metrics are less favorable. This could indicate that while current price movements may be encouraging, the underlying fundamentals may not support the elevated stock price.
What Are Gurus and Insiders Doing with AA? Currently, 6 gurus hold positions in Alcoa Corp, with 3 adding to their positions while 6 gurus have trimmed their stakes in recent quarters. This mixed signal reflects a divergence in opinions among institutional investors. Furthermore, insider activity shows that insiders have sold $0.2 million worth of shares over the past year without any buying, which can be interpreted as a lack of confidence from insiders in the company’s current valuation and future prospects.
The combination of guru ownership patterns and insider selling suggests caution. While some institutional investors are increasing their exposure, the overall trend of trimming by others and the absence of insider buying might indicate underlying concerns about the stock's valuation and future performance.
What This Means for Investors In conclusion, Alcoa Corp appears to be significantly overvalued at its current price of $51.71 compared to the GF Value™ estimate of $32.94. With the high valuation scores and mixed signals from guru and insider activities, potential investors should carefully consider the risks associated with investing in AA at this level. For more detailed insights, visit the Alcoa Corp
AA +3.46% 68
stock page for further analysis.
Frequently Asked Questions What is AA's GF Score™?
AA's GF Score™ is 68/100, indicating an above-average rating that reflects moderate financial health and operational efficiency.
Is AA overvalued or undervalued?
AA is currently overvalued, with a GF Value™ estimate of $32.94 compared to its market price of $51.71.
What is AA's P/E ratio?
AA's P/E (TTM) is 10.6x, which is below its 5-year median of 11.5x, suggesting it is trading at a lower valuation than in the past.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Handelsbanken Fonder AB raised its holdings in Alcoa (NYSE: AA) by 51.9% during the undefined quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,100 shares of the industrial products company's stock after purchasing an additional 19,500 shares during the period. Handelsbanken Fonder AB's
