Norsk Hydro ADR

Latest Norsk Hydro ADR News and Updates

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    Earnings Report

    Why It’s No Surprise that Alcoa Cut Aluminum Demand Guidance

    Alcoa has revised down its 2016 global aluminum demand growth projection to 5%.

    By Mohit Oberoi, CFA
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    Miscellaneous

    Could Alcoa’s Split Create Shareholder Value?

    As an Alcoa (AA) shareholder, you might like to know whether the split will create value. The value, in this case, would basically mean whether the two separate companies would be worth more than the combined entity.

    By Mohit Oberoi, CFA
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    Materials

    Why the Aluminum Supply Deficit Is Not Causing Premiums to Strengthen

    US Midwest aluminum premiums are currently quoted at $0.07 per pound. Premiums have fallen slightly in July and are now down more than 22% year-to-date.

    By Mohit Oberoi, CFA
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    Miscellaneous

    Why Alumina Prices Are a Challenge for Alcoa

    The decline in alumina prices is a concern for Alcoa. The profitability of its alumina operations would be hit due to lower alumina prices.

    By Mohit Oberoi, CFA
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    Miscellaneous

    How Integrated Operations Would Be Alcoa’s Competitive Advantage

    Alcoa (AA) has integrated operations. Under the current market scenario, integrated operations could become Alcoa’s competitive advantage.

    By Mohit Oberoi, CFA
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    Earnings Report

    What Analysts Expect from Century Aluminum’s 3Q15 Earnings

    According to data compiled by Bloomberg, Century Aluminum is expected to post revenues of $445.7 million in its 3Q15 earnings release. In 2Q15, it had net revenues of $523.5 million.

    By Mohit Oberoi, CFA
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    Materials

    How Does Alcoa’s Record Aluminum Deficit Projection Look?

    Earlier, Alcoa projected a 1.1 million metric ton deficit for global aluminum markets. It revised down its deficit projection during its 2Q16 conference call.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    Aluminum Executives Discuss the Industry Outlook

    For commodity companies like Rio Tinto (RIO), the industry outlook is as important, if not more important, than the company’s position in the industry.

    By Mohit Oberoi, CFA
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    Earnings Report

    Aluminum Industry Outlook: What Do Top Executives Have to Say?

    Aluminum industry outlook For commodity companies like Rio Tinto (RIO), industry outlook is as important—if not more important—than the company’s position in the industry. Let’s see what senior aluminum executives have had to say about the aluminum industry’s outlook during their companies’ 3Q16 earnings calls. Century Aluminum Century Aluminum (CENX) expects two million metric tons […]

    By Mohit Oberoi, CFA
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    Materials

    Will the Demand-Supply Mismatch Spur Chinese Aluminum Exports?

    China’s unwrought aluminum exports rose 20.4% YoY in August. Although the increase is a concern, things aren’t as bad as suggested by the big YoY spike.

    By Mohit Oberoi, CFA
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    Earnings Report

    Was Alcoa Smart to Sell Mt. Holly Smelter to Century Aluminum?

    In 2014, Alcoa (AA) sold its stake in the Mt. Holly smelter to Century Aluminum (CENX).

    By Mohit Oberoi, CFA
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    Earnings Report

    Key Takeaways from Alcoa’s 4Q16 Earnings Call

    The question of restarting US plants cropped up during Alcoa’s 4Q16 earnings call. However, Alcoa’s management sounded wary.

    By Mohit Oberoi, CFA
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    Fund Managers

    Must Know: What Value Can Elliott Management Add to Alcoa?

    Elliott Management noted that it plans to engage in a “constructive dialogue” with Alcoa’s (AA) board regarding Alcoa’s split transaction and “additional available opportunities to maximize shareholder value.”

    By Mohit Oberoi, CFA
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    Materials

    How Alumina Prices Affect Century Aluminum

    Alcoa (AA) is an integrated aluminum producer like Rio Tinto (RIO) and Norsk Hydro (NHYDY) and produces alumina and aluminum (DBB).

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    Aluminum Companies’ Valuation: Key Investor Takeaways

    Alcoa’s (AA) valuation has fallen over the last year. Currently, it trades at a discount to its five-year average. The valuation fell for a reason.

    By Mohit Oberoi, CFA
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    Miscellaneous

    Should Lower Alumina Prices Bother Alcoa and Other Producers?

    Although lower alumina prices might not immediately lead to a decline in aluminum prices, they certainly could limit aluminum’s upside.

    By Mohit Oberoi, CFA
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    Materials

    How Do Aluminum Producers Look Going into 3Q16?

    Most aluminum producers’ earnings were received well by markets. Alcoa (AA) saw an upward price action of 5.4% after its earnings release.

    By Mohit Oberoi, CFA
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    Miscellaneous

    How Analysts Are Rating CENX Leading Up to Its 4Q16 Results

    In this article, we’ll analyze how analysts are rating Century Aluminum leading up to its 4Q16 earnings.

    By Mohit Oberoi, CFA
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    Materials

    Watch for the Effect of Commodity Prices on Alcoa, Arconic

    Alcoa (AA) is gearing up for its split, which is scheduled in the second half of 2016. After the split, the value-added company—which will be named Arconic—will produce precision components and other value-added products.

    By Mohit Oberoi, CFA
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    Materials

    Alunorte Shutdown: Norsk Hydro’s Pain Is Alcoa’s Gain

    Norsk Hydro (NHYDY) has announced a production halt at its Alunorte alumina refinery in Brazil.

    By Mohit Oberoi, CFA
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    Materials

    Supply Uncertainty: Aluminum Takes the Baton from Copper

    In 2018, analysts expected disruptions in the copper supply. However, the copper supply has been resilient in 2018.

    By Mohit Oberoi, CFA
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    Miscellaneous

    Can Century Aluminum Continue Its Rise?

    Century Aluminum (CENX) was among the best-performing aluminum stocks in 2016, with gains of 94%.

    By Mohit Oberoi, CFA
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    Materials

    Rio’s Aluminum Division Didn’t Bow to Commodity Price Pressures

    Rio Tinto’s (RIO) Aluminum division contributed 19% of its 1H16 underlying EBITDA (or earnings before interest, tax, depreciation, and amortization).

    By Anuradha Garg
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    Earnings Report

    Alcoa Maintains 2017 Guidance, Ups Demand Forecast

    Alcoa (AA) expects to generate adjusted EBITDA between $2.1 billion and $2.3 billion in fiscal 2017. Alcoa assumed aluminum prices at $1,900 per metric ton.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    Will Elliott Management Start Taking an Active Interest in Alcoa?

    Elliott Management plans to engage in a “constructive dialogue” with Alcoa’s board about Alcoa’s split transaction and “additional available opportunities to maximize shareholder value.”

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    Is the Physical Aluminum Market Really Tightening?

    Weak sentiment in physical aluminum markets could be a reason behind the divergence between Alcoa (AA) and aluminum prices.

    By Mohit Oberoi, CFA
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    Earnings Report

    What Do Aluminum Executives Think about the Industry Outlook?

    While aluminum demand is still rising, there are varying estimates about aluminum consumption.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    Capacity Curtailments Could Help Increase Alcoa’s Cost Positioning

    Alcoa is working to reduce the unit production costs for its plants. If this is not possible, the company could idle these plants.

    By Mohit Oberoi, CFA
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    Earnings Report

    Markets Will Await These Updates from Alcoa’s 1Q17 Earnings Call

    In 1Q17, there were rumors that Rio Tinto (RIO) could acquire Alcoa.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    How Does Alcoa’s Valuation Look Going into 2017?

    Currently, Alcoa is trading at 8.6x its forward EBITDA. This valuation multiple looks somewhat aggressive for a pure-play commodity producer.

    By Mohit Oberoi, CFA
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    Macroeconomic Analysis

    Why the Fed’s Rate Hike Could Impact Aluminum Prices

    The unwinding of aluminum financing deals could have a negative impact on aluminum prices. Earnings of aluminum producers such as Alcoa (AA) are sensitive to aluminum prices.

    By Mohit Oberoi, CFA
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    Materials

    Better-Than-Expected Earnings and Guidance Couldn’t Lift Arconic

    In 2Q17, Arconic generated adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) of $444 million, up 3% as compared to the corresponding period last year.

    By Mohit Oberoi, CFA
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    Earnings Report

    Alcoa’s 1Q17 Earnings: What Investors Need to Know

    Alcoa (AA) released its 1Q17 earnings on April 24 after the markets (MDY) (MID-INDEX) closed. It held the conference call the same day.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    Is a Rising Chinese Aluminum Supply a Risk for Alcoa Investors?

    During their 2Q16 earnings calls, Century Aluminum (CENX) and Norsk Hydro (NHYDY) expressed concern over higher Chinese supply in the second half of the year.

    By Mohit Oberoi, CFA
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    Earnings Report

    A Look at Alcoa’s Technical Indicators before Its 3Q16 Release

    Alcoa’s technical indicators To make market entry and exit decisions, traders and investors analyze technical indicators. Resistance and support levels are among the most commonly used technical indicators. Resistance level Support levels typically act as a floor for stock prices. As a stock approaches its support levels, more buyers emerge while selling pressure generally subsides. […]

    By Mohit Oberoi, CFA
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    Materials

    What Challenges Could Alcoa’s Post-Split Upstream Business Face?

    After the split, the new Alcoa (AA) will house the business units that are currently under the Primary Metals and Alumina segments. We’ll look at the challenges that Alcoa could face once it is listed as a separate company.

    By Mohit Oberoi, CFA
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    Materials

    Why Alcoa Is Apprehensive about President Trump’s Tariffs

    Alcoa (AA) posted record EBITDA (earnings before interest, tax, depreciation, and amortization) in the second quarter.

    By Mohit Oberoi, CFA
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    Materials

    How US Aluminum Markets Have Changed after Section 232 Tariffs

    In this series, we’ll see how the US aluminum markets have changed since the Trump administration’s implementation of its Section 232 tariffs.

    By Mohit Oberoi, CFA
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    Materials

    Does Century Aluminum’s Risk-Reward Proposition Look Attractive?

    Alcoa (AA) and Century Aluminum (CENX) are trading with double-digit year-to-date losses despite the Section 232 tariffs President Trump imposed.

    By Mohit Oberoi, CFA
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    Materials

    Is the Sell-Off in US Aluminum Producers Justified?

    We saw a sharp sell-off in the equity markets last week. The key driver has been the risk of a trade war.

    By Mohit Oberoi, CFA
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    Materials

    Did the Tariffs Dent Aluminum Market Sentiments?

    The Section 232 findings were released on February 16. Between February 19 and March 16, LME aluminum has fallen ~$200 per metric ton.

    By Mohit Oberoi, CFA
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    Materials

    US Aluminum Producers after Section 232 Tariffs

    President Trump has imposed a tariff of 10% on aluminum imports—based on the Department of Commerce’s Section 232 investigation.

    By Mohit Oberoi, CFA
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    Materials

    Alcoa Continues Its Rally as China Keeps Its Commitment

    China exported 370,000 metric tons of unwrought aluminum in September, compared to 410,000 metric tons in August.

    By Mohit Oberoi, CFA
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    Materials

    China’s Aluminum Exports Data Could Help Alcoa

    In the first eight months of 2017, Chinese aluminum exports were 3.26 million metric tons—5.8% higher than the same period the previous year.

    By Mohit Oberoi, CFA
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    Materials

    Aluminum’s Outlook: What Investors Can Expect

    Aluminum prices have been strong in 2017 and have built on last year’s gains. The entire industrial metals space has come a long way since 1Q16.

    By Mohit Oberoi, CFA
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    Materials

    Is China Cutting Aluminum Capacity? Analyzing Producers’ Views

    As we noted previously, aluminum prices have been strong this year. Strength has been driven by positive supply and demand dynamics.

    By Mohit Oberoi, CFA
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    Materials

    How Wall Street Sees Century Aluminum after a 2Q17 Earnings Miss

    Century Aluminum (CENX) released its 2Q17 financial results on August 2 after the markets closed. The company reported revenues of $2.86 billion in 2Q17.

    By Mohit Oberoi, CFA
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    Materials

    China’s Aluminum Exports Fall from Highs—a Relief for Alcoa

    Previously in this series, we’ve looked at China’s July steel exports. In this article, we’ll look at the country’s aluminum exports.

    By Mohit Oberoi, CFA
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    Miscellaneous

    2Q17 Earnings Preview: Do Analysts Find Value in Alcoa?

    Previously in this series, we’ve looked at Alcoa’s (AA) 2Q17 earnings estimates. In this article, we’ll see how leading brokerages are rating Alcoa stock ahead of its 2Q17 earnings release.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    Aluminum Prices: A Look at Its Bullish Drivers

    During its 1Q17 earnings call, Alcoa (AA) raised its 2017 global aluminum demand forecast to 4.5%–5.0% from its previous guidance of 4.0%.

    By Mohit Oberoi, CFA
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