Alumina stock rating upgraded by Macquarie

Macquarie upgraded shares of Alumina (AWC) from a neutral rating to an outperform rating in a research note issued to investors on Wednesday morning, Analyst Ratings Net reports.

Several other analysts also recently weighed in on AWC. Credit Suisse reiterated a neutral rating on shares of Alumina in a research note on Thursday, July 2nd. Morgan Stanley cut Alumina from an overweight rating to an equal weight rating in a report on Friday, May 29th.

Alumina Limited is an Australia-based mining company. Alumina Limited’s sole business undertaking is in the global alumina and aluminum industry, which it conducts primarily through bauxite mining and alumina refining, with some minor alumina based chemicals businesses, aluminum smelting and the marketing of those products. All of those business activities are conducted through its 40% investment in Alcoa World Alumina & Chemicals. AWAC was formed on 1 January 1995 by Alumina Limited and Alcoa Inc (Alcoa) combining their respective global bauxite, alumina and alumina-based chemicals business and investments and their respective aluminum smelting operations in Australia. Alumina’s partner in AWAC is Alcoa, who owns the remaining 60% and manages the day-to-day operations.

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