Streetbeat News

AWCMF

Alumina Ltd.

http://www.aluminalimited.com

CEO

Michael Ferraro

Employees

7,931

Industry

Alumina Refining and Primary Aluminum Production

Open

1.10

Mkt cap

3.2B

Volume

290

High

1.11

P/E Ratio

-22.20

52-wk high

1.24

Low

1.10

Div yield

N/A

52-wk low

0.48

Alcoa Corporation (NYSE:AA) received price target increases from analysts at BMO Capital Markets and Jefferies following better-than-expected Q1 FY24 results, with an EPS loss of $(0.81) and revenue of $2.60 billion. The company expects increased alumina production and shipments for FY24. The acquisition of Alumina Limited (OTC:AWCMF) for $2.2 billion is seen as beneficial. Analysts project improved EPS for FY24 and FY25, citing positive aluminum price momentum and demand across markets. SPDR S&P Metals & Mining ETF (NYSE:XME) and Macquarie ETF Trust Macquarie Energy Transition ETF (NYSE:PWER) offer exposure to Alcoa stock.

Portfolio Pulse from Lekha Gupta

April 18, 2024 | 5:42 pm

Alcoa Corporation is set to acquire Alumina Limited in a $2.2 billion all-stock deal, aiming for a merged entity with a significant share distribution. Ferroglobe PLC and Coreshell partner to produce battery-ready metallurgical silicon for EV batteries, potentially increasing driving range by 30%. Nucor Corporation sees significant insider purchases by executives, indicating strong internal confidence. Analyst Lucas Pipes adjusts price targets for Ramaco Resources and Alpha Metallurgical, reflecting market reassessments.

Portfolio Pulse from Austin DeNoce

March 12, 2024 | 9:39 pm

Alcoa (NYSE:AA) has finalized a $2.2 billion all-stock deal to acquire Alumina Limited (OTC:AWCMF), its joint-venture partner in Alcoa World Alumina & Chemicals (AWAC). The transaction, expected to close in Q3 2024, will result in Alcoa shareholders owning 68.75% and Alumina shareholders 31.25% of the combined entity. Allan Gray Australia supports the deal. Alcoa also commits to providing short-term liquidity support to Alumina if needed. The deal aims to create a stronger, well-capitalized company with significant market presence.

Portfolio Pulse from Lekha Gupta

March 12, 2024 | 10:46 am

5E Advanced Materials (FEAM) is nearing initial production at its Boron Americas Complex, with operations and commercial activities ramping up for a Q2 2024 start. Alcoa Corporation (AA) plans to acquire Alumina Limited (AWCMF) in an all-stock deal valued at $2.2 billion, aiming to strengthen its market position. Vale (VALE) and Sumitomo Metal Mining (SMMYY) are selling a 14% stake in PT Vale Indonesia to PT Mineral Industri Indonesia, aligning with ownership transfer obligations. Alpha Metallurgical (AMR) reported a significant increase in Q4 net income and adjusted EBITDA, continuing its share buyback program.

Portfolio Pulse from Austin DeNoce

February 26, 2024 | 10:39 pm

Alcoa Corp. (NYSE:AA) has proposed a $2.2 billion all-stock acquisition of Alumina Ltd (OTCQX:AWCMF), its partner in the Alcoa World Alumina & Chemicals (AWAC) joint venture. The offer, which represents a 13.1% premium over Alumina's last closing price, has been endorsed by Alumina's board after previous offers were rejected. This move, amid a volatile commodities market, aims to consolidate Alcoa's control over AWAC, the world's largest producer of semi-processed aluminum. The acquisition is expected to enhance Alcoa's exposure to high-quality bauxite and alumina businesses.

Portfolio Pulse from Stjepan Kalinic

February 26, 2024 | 1:56 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.