Why Alcoa Shares Climbed 3% Today

Alcoa Corporation (AA) is up 3.0% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver looks like a continued favorable read-through from Alcoa’s strong second-quarter results and its large South32 asset acquisition announced in late June. There does not appear to be a major new company-specific release on August 11, so the move may also reflect ongoing optimism around aluminum pricing, production restarts, and a supportive U.S. trade backdrop.

Details:

Alcoa’s second-quarter 2026 results showed record quarterly revenue of $4.0 billion and adjusted EBITDA excluding special items of $901 million, helped by higher aluminum prices and stronger shipments.

In the aluminum segment, shipments rose 18% sequentially and production increased 5%, with output supported by restart progress at San Ciprián in Spain, Alumar in Brazil, and restarted capacity in Norway and Australia.

Alcoa announced a $4.1 billion deal to buy South32’s bauxite, alumina, and aluminum assets, and the company described the transaction as immediately accretive to earnings and free cash flow after closing, with meaningful synergy potential.

A July U.S. proclamation expanded incentives tied to domestic primary aluminum investment under the Section 232 tariff framework, which could be adding broader support to sentiment around domestic aluminum names.

Sources:

Alcoa Investor Relations, SEC, The White House

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$AA Insider Trading Activity

$AA insiders have traded $AA stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $AA stock by insiders over the last 6 months:

MATTHEW T REED (EVP, Chief Operations Officer) sold 4,600 shares for an estimated $215,372

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$AA Hedge Fund Activity

We have seen 371 institutional investors add shares of $AA stock to their portfolio, and 351 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

FMR LLC added 7,920,191 shares (+160.6%) to their portfolio in Q1 2026, for an estimated $525,346,269
CASTLE HOOK PARTNERS LP removed 3,968,265 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $263,215,017
DIMENSIONAL FUND ADVISORS LP removed 2,955,506 shares (-25.5%) from their portfolio in Q1 2026, for an estimated $196,038,712
MAPLE ROCK CAPITAL PARTNERS INC. removed 2,359,980 shares (-72.3%) from their portfolio in Q1 2026, for an estimated $156,537,473
UBS GROUP AG removed 2,348,268 shares (-77.9%) from their portfolio in Q1 2026, for an estimated $155,760,616
EAGLE CAPITAL MANAGEMENT LLC removed 1,852,022 shares (-11.6%) from their portfolio in Q1 2026, for an estimated $122,844,619
SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 1,667,486 shares (-97.5%) from their portfolio in Q1 2026, for an estimated $110,604,346

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$AA Price Targets

Multiple analysts have issued price targets for $AA recently. We have seen 8 analysts offer price targets for $AA in the last 6 months, with a median target of $70.0.

Here are some recent targets:

Lawson Winder from B of A Securities set a target price of $51.0 on 07/09/2026
Timna Tanners from Wells Fargo set a target price of $72.0 on 07/09/2026
Bill Peterson from JP Morgan set a target price of $55.0 on 07/09/2026
Carlos De Alba from Morgan Stanley set a target price of $53.0 on 07/08/2026
Nick Giles from B. Riley Securities set a target price of $80.0 on 07/07/2026
Daniel Major from UBS set a target price of $68.0 on 06/30/2026
Katja Jancic from BMO Capital set a target price of $75.0 on 04/09/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.