AA - Alcoa's Lower Quality Bauxite Impact Extended To 2027: Analyst Hints At Closure Of Kwinana Refinery | Benzinga
BMO Capital Markets analyst Katja Jancic reiterated the Market Perform rating on Alcoa Corporation (NYSE: AA), lowering the price target to $28 from $30.
Alcoa reported quarterly adjusted losses of $(1.14) per share, which missed the analyst consensus estimate of losses of $(1.13), compared to losses of $(0.33) per share from the same period last year.
Looking ahead, although Alcoa expects its revised Mine Management Program (MMP) to be approved in 4Q'23, the concessions made will result in Alcoa continuing to mine lower-quality bauxite until 2027, assuming it receives permits for ...