|Bid||38.500 x 300|
|Ask||38.510 x 400|
|Day's Range||38.050 - 38.660|
|52 Week Range||20.530 - 40.362|
|PE Ratio (TTM)||206.69|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Earlier this year, Elliott Management, a $31 billion activist hedge fund, fought a dramatic battle with Arconic ($ARNC) over leadership and corporate governance. We identified how Arconic breached their fiduciary duty and misled shareholders with obfuscation in their public filings.
Goldman Sachs has added Australia’s Alumina (AWC.AU) to its conviction list, rating the shares a Buy with potential upside of 17%. The investment bank points to the alumina and bauxite miner’s joint venture with Alcoa (AA), which it expects to be a source of increased distributions for Alumina in the coming years. Alumina is effectively a holding company for its 40% stake in the Alcoa World Alumina and Chemicals joint venture, which is the world’s second-biggest alumina business.
Alcoa stock (AA) has shown strength over the last couple of weeks. The stock’s upward price action has found support in rising aluminum prices, which have now topped the $2,000-per-metric ton level.