|Day Low/High||4.17 / 4.23|
|52 Wk Low/High||3.35 / 4.79|
Alcoa (AA) joint venture Alcoa World Alumina agrees to a $384 million deal to settle a Bahraini bribery probe.
Alcoa (AA) has spiked 11.6%. What's behind the aluminum producer's gains?
In trading on Thursday, shares of Alumina Ltd entered into oversold territory, changing hands as low as $3.48 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100.
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The Dow bounces roughly 70 points off its session low, closing with an 11-point decline.The S&P 500 dips and the Nasdaq ticks higher.
These companies pay high dividends and their fair values are relatively low.
Here's a snapshot of the performance of metal and mining stocks this past week.
A snapshot of the winners and losers across the metal and mining space this past week.
Analysts expect these 10 stocks to outperform their peers and broader markets, based on their respective 12-month price targets.
Solitario Exploration, Westmoreland Coal and Tanzanian Royalty Exploration were among the top gainers last week.
Mines Management, Harmony Gold, U.S. Gold and International Coal were among the top gainers last week. Penn Virginia Resource, Golden Star and Cloud Peak Energy posted marginal declines.
These metal and mining stocks are scheduled to release their earnings next week.
Alumina, Platinum Group and AK Steel were winners among metals and mining stocks last week.
Here are the winners and losers among metals and mining stocks last week.
Aluminum is expected to advance during the fourth quarter on China's resilient demand and improving prospects in the U.S. and eurozone.
Base metals are expected to trade lower for the third consecutive trading session on weak U.S. data.
Steel stocks outperformed the S&P 500 last week, riding on positive macro industrial data from the U.S. and China.
Chalco Chairman believes that aluminum overcapacity will evaporate in the coming three years, given the growing demand for the metal.
With no significant data releases lined up, base metals could be headed toward a weekly drop.
Copper pared most of its losses after China released growth and inflation data.
Alcoa's earnings for the second quarter could miss estimates on higher production costs and lower aluminum prices.
Base metals could correct this week as lower-than-expected economic data releases may drag the prices lower.
Based on fundamentals, the aluminum stocks seem attractive at current levels despite a fall in the metal's prices.
Anticipated improvements in capacity utilization likely will hold base metals at their current prices.
Risk-adjusted performance analysis of base metal companies suggests the selloffs witnessed in Vale, BHP Billiton, Rio Tinto and many others are overdone.
The prices of both base and precious metals are expected to trade mixed next week.
Alcoa's stock is down more this year than its major rivals, and that's a trend that's likely to continue.