In a report released today, Lucas Pipes from B.Riley FBR reiterated a Hold rating on Alcoa (AA), with a price target of $8.00. The company’s shares closed last Wednesday at $7.55, close to its 52-week low of $5.16.
According to TipRanks.com, Pipes has currently no stars on a ranking scale of 0-5 stars, with an average return of -18.5% and a 33.6% success rate. Pipes covers the NA sector, focusing on stocks such as Novagold Resources New, US Silica Holdings, and Hi-Crush Partners.
Currently, the analyst consensus on Alcoa is a Moderate Buy with an average price target of $11.00.
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The company has a one-year high of $28.55 and a one-year low of $5.16. Currently, Alcoa has an average volume of 8.35M.
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Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina. The Aluminum segment combines smelting and casting operations produce primary aluminum. The smelting operations produce molten primary aluminum, which is then formed by the casting operations into either foundry ingot or into value add ingot products, including billet, rod, and slab. The company was founded by Charles Martin Hall on July 9, 1886 and is headquartered in Pittsburgh, PA.
