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Today's Research Reports on Stocks to Watch: Alcoa Corporation and Century Aluminum

NEW YORK, NY / ACCESSWIRE / August 9, 2017 / It was a great day for aluminum stocks after China's unwrought aluminum export numbers were down for July. Global aluminum demand is growing at a good pace, but it's China that is being watched closely in the coming months. Shares of Alcoa and Century Aluminum both saw gains in Tuesday trading.

RDI Initiates Coverage on:

Alcoa Corporation
https://ub.rdinvesting.com/news/?ticker=AA

Century Aluminum Company
https://ub.rdinvesting.com/news/?ticker=CENX

Century Aluminum Company's shares closed up 3.98% on Tuesday with roughly 3.6 million shares traded. Aluminum stocks such as Century and Alcoa saw gains as China's export numbers in unwrought aluminum came in lower last month compared to June. It was just last week that the company reported its second quarter earnings results and posted a profit of 7 cents per share, but adjusted for non-recurring gains, this was just 1 penny. The stock crashed 20% last Thursday as analysts had been expecting a profit of $0.22. Revenue for the quarter was $388.8 million. CEO Michael Bless has reassured that "operations remain stable and are performing at expected levels of operating efficiency." He also said that "profit conversion on higher revenue was strong despite the predicted increase in alumina costs." Furthermore, he predicts that "alumina unit costs will decrease in the third quarter." Since the start of the year, shares of Century have climbed over 64%.

Access RDI's Alcoa Corporation Research Report at:
https://ub.rdinvesting.com/news/?ticker=AA

Alcoa Corporation's shares closed up 4.19% yesterday on volume more than twice as high as usual with nearly 8.8 million shares traded. The aluminum giant hit a new high of $40.36 during intra-day trading. There was no significant news from the company to explain the move, but a report revealed that China's export of unwrought aluminum fell last month, from 460,000 metric tons in June to 440,000 metric tons in July. This could be favorable for U.S producers such as Alcoa. It was just last month that the stock soared over 11% when it announced a solid second quarter earnings report and announced that it would be partially restarting a facility that it had closed.

Access RDI's Century Aluminum Company Research Report at:
https://ub.rdinvesting.com/news/?ticker=CENX

Our Actionable Research on Alcoa Corporation (NYSE: AA) and Century Aluminum Company (NASDAQ: CENX) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com

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