Alcoa Pockets $1.1B From Saudi Joint Venture Sale: Details
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 16 2024
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Source: Benzinga
Alcoa's Sale Agreement: Alcoa Corporation has entered a binding agreement to sell its 25.1% stake in the Ma’aden Joint Venture to Saudi Arabian Mining Company (Ma’aden) for approximately $1.1 billion, which includes both cash and shares.
Transaction Details and Implications: The deal is expected to close in the first half of 2025, pending regulatory approvals, and aims to simplify Alcoa's portfolio while enhancing financial flexibility, with Alcoa retaining a small percentage of Ma’aden shares post-transaction.
Analyst Views on PWER
Wall Street analysts forecast PWER stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PWER is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
