Alcoa (AA) Shares Ramp to Highs Following Investor Presentation
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Alcoa (NYSE: AA) shares are ramping to session highs as the company filed its investor presentation for October
In part, Alcoa noted having a cash balance of over $600 million with a credit capacity of $1.5 billion (under a drawdown revolver).
The company said it will conduct ongoing portfolio reviews and curtail, sell, or close assets that don't meet value generation thresholds based on market conditions.
Alcoa is also projecting capital investments of $370 million and annual EBITDA of over $300 million.
Shares of Alcoa are up 2.3 percent.
The presentation is embedded below:
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