On Tuesday, May 3, a stock rating agency upgraded Aluminum Corporation of China Limited, also known as Chalco, from a “buy” rating to a “strong-buy” rating.
Earlier, on January 13, the Goldman Sachs Group had rated the stocks of Aluminum Corp. of China “sell” instead of “buy”, while on March 23, HSBC had upgraded the shares rating from a “reduce” to “hold”.
Currently, the company has a ratio of 1:08, a quick ratio of 0.58 and a debt-to-equity ratio of 0.74. Its 50-day moving average price is $14.86 and its 200-day moving average price is $14.51.
Aluminum Co. of China has a twelve month low of $10.58 and a twelve month high of $23.90. It has a market cap of $7.70 billion, a P/E ratio of 9:12 and a beta of 1:59.
Recently, hedge funds have also added or reduced their stakes in Chalco. For instance, Connor Clark & Lunn Investment Management Limited purchased a new stake in the company in Q3 valued at $941,000, while Old Mission Capital LLC increased stakes by 415.3%. OLD Mission Capital LLC bought an additional 136,158 shares to increase its stakes in Chalco by 415.3%. Black Rock Inc. also increased its stakes but by 2%. Cubist Systematic Strategies LLC and LPL Financial LLC acquired new positions in Aluminum Co. of China in the 3rd quarter valued at $243,000 and $235,000.
Aluminum Corporation of China Limited, together with subsidiaries, manufactures and sells alumina, primary aluminum, aluminum alloys and carbon products in China and internationally.
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