Alcoa Corp

AA: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Alcoa: Sharply Higher Alumina Futures Lift Our Fair Value Estimate

Mark Taylor

Dec 12, 2024

Alumina prices have risen sharply, and we increase our fair value estimate for no-moat Alcoa by 18% to USD 45.50. Alcoa shares are up more than 60% from September 2024 lows, and at around USD 45.70 are fairly valued.

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Alcoa Corp

Alcoa: Sharply Higher Alumina Futures Lift Our Fair Value Estimate

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