Alcoa Corp (NYSE: AA): Hunting Genuine Value In Market Debris

Currently, there are 258.34M common shares owned by the public and among those 256.36M shares have been available to trade.

The company’s stock has a 5-day price change of 6.53% and -4.04% over the past three months. AA shares are trading 15.24% year to date (YTD), with the 12-month market performance up to 34.82% higher. It has a 12-month low price of $23.07 and touched a high of $45.48 over the same period. AA has an average intraday trading volume of 6.19 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 17.64%, 20.05%, and 15.46% respectively.

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Institutional ownership of Alcoa Corp (NYSE: AA) shares accounts for 62.51% of the company’s 258.34M shares outstanding.

It has a market capitalization of $10.12B and a beta (3y monthly) value of 2.43. The earnings-per-share (ttm) stands at -$3.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.11% over the week and 3.66% over the month.

Earnings per share for the fiscal year are expected to increase by 117.75%, and 544.24% over the next financial year.

Looking at the support for the AA, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on October 01, 2024, with the firm’s price target at $43-$52. JP Morgan coverage for the Alcoa Corp (AA) stock in a research note released on September 25, 2024 offered a Neutral rating with a price target of $36. Wolfe Research was of a view on September 04, 2024 that the stock is Outperform, while UBS gave the stock Buy rating on August 12, 2024, issuing a price target of $32- $38. Wolfe Research on their part issued Peer Perform rating on August 02, 2024.

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