|Bid||0.00 x 900|
|Ask||0.00 x 2200|
|Day's Range||9.47 - 9.93|
|52 Week Range||9.46 - 24.77|
|Beta (3Y Monthly)||-0.67|
|PE Ratio (TTM)||12.44|
|Earnings Date||Oct 25, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||15.17|
Alcoa (AA), the leading US-based aluminum producer, released its Q3 2018 earnings yesterday, October 17, after the close of markets (XME). Century Aluminum (CENX) is scheduled to release its third-quarter earnings on October 25. Alcoa’s Q3 earnings were better-than-expected, and the stock was trading sharply higher in after-market trading yesterday.
In the previous part, we discussed analysts’ projections for Alcoa’s (AA) third-quarter earnings. In this part, we’ll look at the key updates that markets might watch in Alcoa’s third-quarter earnings call.
Alcoa (AA) is scheduled to release its third-quarter earnings on October 17 after the markets close. In this part, we’ll discuss analysts’ projections for Alcoa’s third-quarter earnings. Analysts polled by Thomson Reuters expect Alcoa to post revenues of $3.31 billion in the third quarter.
Alcoa (AA), the leading US-based aluminum producer (XME), is scheduled to release its third-quarter earnings on October 17 after the markets close. Century Aluminum (CENX) is scheduled to release its third-quarter earnings on October 25. Alcoa’s dismal 2018 price action isn’t hard to comprehend.
Even though tariffs have bumped the prices for domestic steel and aluminum, these four stocks are down more than 15% this year.
Alcoa: Should You Be Bottom Fishing? In the previous part, we discussed Alcoa’s bearish drivers. Despite the equity market sell-off, aluminum prices (RIO) have held onto the $2,000 per metric ton level.
In this part, we’ll discuss some of Alcoa’s (AA) bearish drivers. First, the US-China trade war scare has weaned investors away from metals (XME). China’s economic data have likely added to the pessimism. China’s car sales fell YoY (year-over-year) in July and August. The fixed-asset investment growth rates have also fallen to historical lows. The property boom that lifted China’s metal demand is fading. Amid a domestic demand slowdown, Chinese aluminum exports have risen sharply in 2018. Aluminum exports rose 17.1% YoY in the first nine months of 2018. ...
Alcoa (AA), the leading US-based aluminum producer (DIA), is having a terrible year. The company has lost 33.8% year-to-date. The sell-off has intensified in October. The stock has lost 11.7% of its market capitalization this month based on the closing prices on October 11. Century Aluminum (CENX) and Norsk Hydro (NHYDY) have also been on a losing spree this year. Rio Tinto (RIO) has done better since iron ore prices have been surprisingly strong.
Century Aluminum's (CENX) latest deal enables Santee Cooper to continue to service 25% of the Mt. Holly power at a standard cost-based industrial rate.
CHICAGO, Oct. 10, 2018 -- Century Aluminum Company (NASDAQ: CENX) will report third quarter 2018 earnings on Thursday, October 25, 2018 after the close of market trading. The.
Century Aluminum of South Carolina, Inc., a wholly-owned subsidiary of Century Aluminum Company (CENX), announced today that it has reached an agreement with Santee Cooper that will allow the Goose Creek, SC plant to continue to operate at half capacity. Under this agreement, Santee Cooper will continue to service 25% of the Mt. Holly load at a standard cost-based industrial rate. The remaining 75% of the power required to serve Mt. Holly is expected to be sourced from a third-party supplier at market prices that are tied to natural gas prices. The agreement with Santee Cooper has a term through December 31, 2020 but can be terminated by Mt. Holly on 120 days' notice.
Century Aluminum Company (NASDAQ:CENX) is a stock with outstanding fundamental characteristics. When we build an investment case, we need to look at the stock with a holistic perspective. In the Read More...
Century Aluminum Company (CENX) announced today the death of its non-executive chairman, Terence A. Wilkinson, at age 72. Mr. Wilkinson joined the Board of Directors as chairman in 2011 and has served in that capacity since that time. He also chaired the Independent Directors and Governance and Nominating committees of the Board. The directors have elected Andrew G. Michelmore as non-executive chairman. Mr. Michelmore recently rejoined the Board, having served from 2010 to 2015. He retired in 2017 as Executive Director and Chief Executive Officer of MMG Limited.
Copper mining is concentrated in Latin America. The mined copper supply is susceptible to disruptions from protests to nature-related incidents. Aluminum’s supply chain is generally less prone to supply uncertainty compared to copper (FCX).
Norsk Hydro (NHYDY) has announced a production halt at its Alunorte alumina refinery in Brazil. The refinery, which is the largest alumina refinery outside of China, was operating at 50% capacity this year amid the feud between Norsk Hydro and Brazilian authorities. Earlier this year, the Alunorte curtailment coupled with RUSAL sanctions pushed alumina prices to record highs.
Alcoa’s (AA) 2018 earnings have been supported by higher alumina prices. Alcoa is an integrated aluminum producer that produces alumina as well as aluminum. First, we saw the partial curtailment of Norsk Hydro’s (NHYDY) Alunorte refinery that kicked off some 260,000 metric tons of monthly alumina supply.
China is the world’s largest aluminum producer (RIO), consumer, and exporter. Chinese aluminum exports are often blamed for the global aluminum industry’s woes. Meanwhile, China’s aluminum exports have risen sharply this year.
Alcoa (AA) carries a mean consensus price target of $58.3, which represents a 42.7% upside over its October 1 closing price. Alcoa has received a “strong buy” rating from three analysts, while eight analysts rate it as a “buy.” The remaining four analysts polled by Thomson Reuters on October 1 rate Alcoa as a “hold” or some equivalent. Last month, Berenberg initiated coverage on Alcoa with a “buy” rating and a $54 price target.
Alcoa (AA) is having a dismal run this year. Based on October 1 closing prices, the stock has lost 24.1% YTD. Century Aluminum’s (CENX) performance hasn’t been any better with losses of 38.5% so far this year. Diversified miners like Rio Tinto (RIO) have performed better as iron ore prices have been strong despite the weakness in other industrial metals. The SPDR S&P Metals and Mining ETF (XME), which seeks to build a diversified portfolio of US-based metal and mining companies, has also sagged this year with a loss of 4.2% YTD.
The Trump administration’s aluminum tariffs are aimed at boosting U.S. producers’ profits. The sanctions have pushed up prices for aluminum’s key ingredient, alumina, eating into the profits of U.S. producers, analysts and aluminum makers say. It takes about two tons of alumina to make one ton of aluminum and companies that had previously purchased the white powdery material from Rusal, which makes 6% of the world’s alumina, have been scrambling to get supplies from other producers, squeezing limited supplies.