State Board of Administration of Florida Retirement System raised its stake in Alba Minerals Ltd (NYSE:AA) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 220,201 shares of the company’s stock after acquiring an additional 2,790 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.12% of Alba Minerals worth $10,266,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of AA. BlackRock Inc. lifted its holdings in shares of Alba Minerals by 4,113.0% in the first quarter. BlackRock Inc. now owns 6,820,599 shares of the company’s stock worth $234,632,000 after acquiring an additional 6,658,703 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its holdings in Alba Minerals by 163.5% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 4,539,019 shares of the company’s stock valued at $148,198,000 after buying an additional 2,816,320 shares during the last quarter. BT Investment Management Ltd bought a new position in Alba Minerals in the 2nd quarter valued at approximately $83,380,000. Assenagon Asset Management S.A. bought a new position in Alba Minerals in the 2nd quarter valued at approximately $63,686,000. Finally, Vanguard Group Inc. raised its holdings in Alba Minerals by 14.5% in the 2nd quarter. Vanguard Group Inc. now owns 14,851,293 shares of the company’s stock valued at $484,895,000 after buying an additional 1,885,745 shares during the last quarter.
A number of brokerages recently issued reports on AA. Clarkson Capital reiterated a “buy” rating on shares of Alba Minerals in a report on Thursday, July 20th. J P Morgan Chase & Co reiterated a “buy” rating and issued a $60.00 price objective on shares of Alba Minerals in a report on Thursday, October 19th. Zacks Investment Research lowered shares of Alba Minerals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 12th. Morgan Stanley reiterated an “overweight” rating on shares of Alba Minerals in a report on Friday, July 21st. Finally, Berenberg Bank lowered shares of Alba Minerals from a “buy” rating to a “hold” rating and raised their price objective for the company from $41.00 to $44.00 in a report on Friday, September 22nd. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of C$49.88.
Shares of Alba Minerals Ltd (AA) opened at C$43.01 on Friday. Alba Minerals Ltd has a 52-week low of C$27.63 and a 52-week high of C$50.31.
Alba Minerals (NYSE:AA) last announced its quarterly earnings data on Wednesday, October 18th. The company reported C$0.72 EPS for the quarter, missing the consensus estimate of C$0.77 by C($0.05). The company had revenue of C$2.96 billion for the quarter, compared to analyst estimates of C$2.95 billion. Alba Minerals had a return on equity of 7.67% and a net margin of 5.70%. The business’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period last year, the business earned $0.32 EPS.
Alba Minerals Profile
Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.
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