By market close, shares had climbed 3.8% to $13.
After the bell Tuesday, the largest aluminum producer in the U.S. reported adjusted net income of $98 million, or 9 cents a share, in the three months to March. Analysts surveyed by Thomson Reuters forecast $47.55 million or 5 cents a share.
Over fiscal 2014, the company said it expects sales growth in aerospace to climb 9%, growth in automotive 4%, and building and construction 6%. Overall, the company anticipates 7% annual global demand growth for aluminum.
TheStreet Ratings team rates ALCOA INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate ALCOA INC (AA) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Among the primary strengths of the company is its solid stock price performance. At the same time, however, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins."
- You can view the full analysis from the report here: AA Ratings Report