The Westpac Banking Corp Sells 845074 Shares of Alcoa Corp. (AA)

A number of other institutional investors and hedge funds have also recently modified their holdings of AA. Alcoa Corp. earned a coverage optimism score of 0.17 on Accern’s scale. As of quarter end Sg Americas Securities, LLC had disposed of a total of 2,622,881 shares trimming its position 99.7%. Private Advisor Group LLC now owns 9,225 shares of the industrial products company’s stock valued at $312,000 after buying an additional 1,294 shares during the period. Global X Management Co. LLC raised its stake in shares of Alcoa 220.6% in the second quarter. The company had a trading volume of 5,441,558 shares. Finally, Van ECK Associates Corp raised its stake in shares of Alcoa 42.3% in the first quarter.

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ILLEGAL ACTIVITY NOTICE: “Alcoa Corp”. Finally, Argus began coverage on shares of Alcoa a report on Friday, December 9th. Citigroup Inc. restated a buy rating and issued a $45.00 price objective on shares of Alcoa a research report on Friday, May 19th. Alum. Corp China had 3 analyst reports since August 31, 2015 according to SRatingsIntel. The stock now has a consensus rating of “Buy” and an average price target of $31.23. If the $20.33 price target is reached, the company will be worth $1.00B more.

Having a price of $31.09, Alcoa Corp. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. The stock now has a consensus rating of “Buy” and a consensus target price of $40.07.

Shares of Alcoa Corp. (NYSE AA) traded up 0.68% on Thursday, hitting $44.73. The value of the company’s investment in Alcoa Corporation went from $1,081,000 to $3,491,000 increasing 222.9% quarter to quarter. The firm’s market cap is $6.91 billion. It is trading at $44.73 quite a bit above $39.27, the stock’s 50 day moving average and impressively higher than the 200 day moving average of $34.88.

And it’s looking like even higher prices are on the way, as production cuts in China (in an effort to curb pollution) pushed aluminum prices to almost six-year highs last week, including a 20% rise just in recent weeks.

Alcoa Corp. comprises about 1.0% of Westpac Banking Corp’s portfolio, making the stock its 18th largest position. (NYSE:AA) by 8.2% during the third quarter, Holdings Channel reports. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.88 billion. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Analysts predict that Alcoa Corp. will post $1.42 EPS for the current year.

Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products.

Aluminum Corporation of China Limited (Chalco), launched on October 10, 2001, is an aluminum producer with operations in bauxite and coal mining, alumina refining and primary aluminum smelting.

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