Here are three stocks with buy rank and strong value characteristics for investors to consider today, Nov. 26:Commercial Metals Company (CMC) : This steel and metal products company, and related materials and services provider carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 12.5% over the last 60 days.Commercial Metals has a price-to-earnings ratio (P/E) of 11.35, compared with 21.00 for the industry. The company possesses a Value Score of A.A ...

Core Viewpoint - Rio Tinto demonstrated strong operational performance in Q3 2025, with significant increases in production and shipments across various segments despite challenging commodity markets [2][4][9] Production and Shipments - Pilbara iron-ore shipments reached 84.3 million tons, a 6% increase from the previous quarter [2] - IOC iron-ore pellets and concentrate production rose by 11% year-on-year [2] - Copper-equivalent production grew by 9% compared to Q3 2024 [2] - Bauxite production increased to 16.4 million tons, reflecting a 9% year-on-year rise, while aluminum output rose by 6% to approximately 0.86 million tons [2] Financial Performance - The share price of Rio Tinto increased by approximately 18% year-to-date, driven by diversified production and a focus on higher-growth sectors like copper and lithium [4][9] - The company revised its full-year bauxite guidance to a range of 59–61 million tons, up from 57–59 million tons [2] Growth Drivers - Copper production reached 204 kt in Q3, marking a 10% year-on-year increase, with expectations to meet the higher end of annual guidance [7] - The growth in bauxite and aluminum segments, supported by updated guidance, presents potential upside for the company [8] Future Outlook - Q4 2025 will be critical for iron-ore volumes and operational stability, especially following earlier weather disturbances [6] - Consistent Pilbara shipments alongside growth in bauxite and aluminum could lead to a strong finish for the year [6]

Core Insights - Rio Tinto Group (RIO) will reduce production by 40% at its Yarwun Alumina Refinery starting October 2026 to extend the operation's life until 2035 [1][8] - The production cut will lower alumina output by 1.2 million tons annually, but will not affect customer requirements [4][8] - The company is exploring options for staff redeployment across its Gladstone sites due to the impact on 180 roles [4][8] Production and Operational Impacts - The production reduction allows Rio Tinto time to explore life-extension and modernization options at Yarwun, as the tailings facility is expected to reach capacity by 2031 [3][8] - Other facilities, including bauxite mines and aluminum smelters, will continue to operate at full capacity [3] - Rio Tinto's alumina production is anticipated to be between 7.4 million tons and 7.8 million tons for 2025 [6] Financial Guidance and Performance - Rio Tinto expects Pilbara iron ore shipments at the lower end of 323-338 million tons due to cyclone impacts in Q1 2025 [5] - Bauxite guidance has been increased to 59-61 million tons from 57-59 million tons, indicating higher utilization rates [5] - In the past year, Rio Tinto shares have gained 18.5%, outperforming the industry's growth of 14.2% [7]

Core Insights - Rio Tinto reported stable iron ore shipments of 84.3 million tons in Q3 2025, flat year-over-year but a 6% increase sequentially, marking the second-highest Q3 performance since 2019 [1] - The company expects Pilbara iron ore shipments for 2025 to be between 323 million tons and 338 million tons, indicating a potential year-over-year decline of 2% to growth of 3% [5] - Analysts have raised earnings estimates for 2025-2026, reflecting improving sentiment towards Rio Tinto [9] Production Highlights - Bauxite production increased by 9% year-over-year to 16.4 million tons in Q3 2025, achieving a production record [3] - Aluminum output rose by 6% year-over-year to 0.86 million tons, while alumina output increased by 7% year-over-year to 1.9 million tons [3] - Copper production reached 204 thousand tons, a 10% increase year-over-year, with record production at Oyu Tolgoi [4] Production Guidance - Rio Tinto's bauxite production target for 2025 is revised to 59-61 million tons, up from 57-59 million tons, reflecting higher utilization rates [6] - Copper production is expected to be near the high end of the range of 780-850 thousand tons for 2025, driven by strong performance at Oyu Tolgoi [7] Financial Estimates - The Zacks Consensus Estimate for Rio Tinto's 2025 revenues is $54.90 billion, a 1.6% year-over-year increase, while earnings are projected at $6.09 per share, indicating a 9.1% decline [8] - For 2026, revenue estimates suggest a 3.72% year-over-year increase to $56.94 billion, with earnings projected to grow by 4.6% to $6.37 per share [10][11] Stock Performance - Year-to-date, Rio Tinto shares have gained 21.6%, lagging behind the industry's 26.5% growth [13] - The company operates across 35 countries with a diversified portfolio, focusing on new projects to support energy transition [15] Lithium Expansion - Rio Tinto is expanding its lithium portfolio to meet rising demand for batteries and electric vehicles, aiming to grow its capacity to over 200 thousand tons per year of lithium carbonate equivalent by 2028 [16] Valuation - Rio Tinto trades at a forward price-to-earnings multiple of 11.23, lower than the industry average of 16.43, indicating an attractive valuation [17] Investment Outlook - Despite potential operational headwinds, Rio Tinto's diversified portfolio and project pipeline position it well for future growth, supported by upward earnings revisions and attractive valuation [19]

Core Insights - Ghana is conducting its most extensive mining sector audit in a decade, focusing on major gold producers to recover lost revenue and enhance regulatory oversight [1][2] - The audit will involve leading gold mining companies and is scheduled to take place from November 1, 2025, to June 2026 [2][5] Group 1: Audit Details - The audit will target major gold mining companies including AngloGold Ashanti, Asante Gold, Gold Fields, Newmont, Perseus, and Zijin [2] - The process will be carried out by government auditors, forensic accountants, and independent consultants [2] - Companies are required to submit ten years of production logs, three years of financial records, relevant permits, stockpile inventories, and shipping manifests by October 31 [3] Group 2: Economic Context - The mining sector generated 17.7 billion cedis ($1.68 billion) in 2024, supported by a 25.1% increase in gold output [5] - Ghana expects gold production to reach 5.1 million ounces in the current year, an increase from 4.8 million ounces previously [5] - Mining is a crucial sector for Ghana's economy, which is also the world's second-largest cocoa producer [4] Group 3: Historical Context and Opinions - The last mining sector audit was conducted in 2015, and some companies contested the findings of that audit [6] - An economist suggested that special audits should be conducted annually to inform tax policy and unlock the sector's revenue potential [7]

Alcoa (NYSE:AA) 2025 Investor Day Summary Company Overview - **Company**: Alcoa Corporation - **Event**: Investor Day 2025 - **Date**: October 30, 2025 Key Industry Insights - **Aluminum Market Outlook**: The long-term outlook for aluminum is positive, driven by growth in demand and constrained supply, particularly in North America and Europe [34][41] - **Supply Constraints**: The market is experiencing constrained supply due to Chinese production caps and rising capital costs outside of China, which is a shift from the previous two decades where supply was more abundant [35][41] - **Investment in Growth**: Alcoa has opportunities for disciplined growth, highlighted by the successful acquisition of Alumina Limited in 2024, which has positioned the company favorably within the industry [35][39] Financial Performance - **EBITDA**: Alcoa reported $1.6 billion in EBITDA for 2024, indicating strong financial health [36] - **Debt Management**: The company has monetized $1 billion worth of assets, strengthening its balance sheet, with a net debt target of $1 billion to $1.5 billion [40] - **Shareholder Returns**: Alcoa has returned $1 billion to shareholders over the last five years, demonstrating a commitment to shareholder value [40] Operational Excellence - **Production Capacity**: Alcoa produces approximately 40 million metric tons of bauxite, 10 million metric tons of alumina, and 2 million metric tons of aluminum annually [36] - **Safety Initiatives**: The company has achieved a 75% reduction in serious injuries in North America and a 50% reduction in serious chemical burns across its refining network [62][75] - **Alcoa Business System (ABS)**: The ABS has been modernized to improve operational performance, leading to increased production and efficiency across various sites [61][63] Strategic Vision and Culture - **New Vision**: Alcoa's vision is to "build a legacy of excellence for future generations," which aims to engage employees at all levels [86] - **Cultural Shift**: The company is focused on fostering a high-performance culture, emphasizing accountability, empowerment, and continuous improvement [89][90] - **Employee Engagement**: Initiatives such as "leadership time in field" are designed to enhance engagement and safety by having leaders spend more time with frontline employees [52][53] Technological Innovations - **Investment in Technology**: Alcoa continues to invest in breakthrough technologies, including AI applications and robotics, to enhance operational efficiency and safety [46][65] - **Sustainability Efforts**: The company is committed to green products, with 86% of its energy sourced from renewable sources, positioning itself well for the green transition [45] Regional Operations - **Global Presence**: Alcoa operates in 25 locations across 8 countries, with a focus on North America and Europe, which are expected to face aluminum supply deficits in the future [36][41] - **Operational Improvements**: Incremental improvements in production have been noted across various regions, with specific examples of success in North America and Australia [68][69] Conclusion - **Future Outlook**: Alcoa is well-positioned for future growth with a strong balance sheet, disciplined capital allocation, and a commitment to operational excellence and safety [40][48][75] - **Engagement with Stakeholders**: The company emphasizes the importance of stakeholder engagement and environmental responsibility, particularly in sensitive areas like the Amazon rainforest [78][70]

Financial Performance & Strategy - Alcoa's 2024 revenue was $12 billion, with net income attributable to Alcoa at $60 million, or $026 earnings per share[14] - Adjusted EBITDA, excluding special items, was $16 billion, with adjusted earnings per share at $135 in 2024[14] - Alcoa aims to maintain adjusted net debt between $10 billion and $15 billion[168] - The company has $500 million remaining in share buyback authorization and a quarterly dividend of $010 per share[169] Operational Excellence & Innovation - Alcoa's bauxite production reached 38 million dry metric tons, alumina production was 10 million metric tons, and aluminum production was 22 million metric tons in 2024[14] - A 75% reduction in serious injuries in North America operations was achieved in 2025 compared to a 2022 baseline, driven by ABS routines[54] - The Deschambault smelter is on track to achieve its 16th consecutive year of record aluminum production in 2025[59] Market Outlook & Growth - Global total aluminum consumption is expected to grow from 107 million metric tons in 2025 to 134 million metric tons in 2035, a CAGR of +23%[19] - Alumina demand is projected to increase, particularly outside of China, growing by 136 million metric tons (23%) from 2025 to 2035[131] - Alcoa expects a +1 million metric tons increase in alumina production and a $15-$20/ton reduction in unit cost at Australian refineries upon full realization of higher bauxite grades by 2030[80]

Core Points - Mali has cancelled over 90 mining exploration permits due to alleged non-compliance with new legal requirements, affecting subsidiaries of international mining companies [1][2] - The decree, signed on October 13 and reassessed on October 29, releases all rights granted by the permits, making the areas available for reallocation [2] - The Mines Ministry indicated widespread non-compliance with new mining rules as the reason for the cancellations, but did not clarify if companies can appeal or resubmit applications [3] Industry Context - This action reflects a trend in African countries, including Guinea, to reform mining industries by revoking non-compliant permits and enforcing stricter regulations to enhance resource earnings [4] - Mali, a leading gold producer in Africa, is facing regulatory crackdowns and security issues that are hindering foreign investment, with industrial gold production expected to fall short of its 2025 target [5] - The military-led government has strengthened ties with Russia through energy and mining agreements, building on previous Russian-backed initiatives in Mali's mining sector [6]

Core Insights - Alcoa reported $3 billion in revenue for Q3 2025, a 3.1% year-over-year increase, but an EPS of -$0.02 compared to $0.57 a year ago, indicating a significant decline in profitability [1] - The revenue fell short of the Zacks Consensus Estimate of $3.02 billion, resulting in a surprise of -0.96%, while the EPS exceeded expectations by 86.67% against a consensus estimate of -$0.15 [1] Financial Performance Metrics - Average realized price per metric ton of alumina was $377.00, slightly above the estimated $376.78, while aluminum was $3,374.00, exceeding the estimate of $3,340.11 [4] - Third-party alumina shipments were 2,205.00 Kmt, surpassing the estimate of 2,194.51 Kmt, but aluminum shipments were 612.00 Kmt, below the estimate of 627.41 Kmt [4] - Total sales for aluminum reached $2.05 billion, below the estimate of $2.11 billion, but represented a year-over-year increase of 13.2% [4] - Third-party sales for bauxite were $113 million, below the estimate of $138.59 million, but showed a year-over-year increase of 21.5% [4] - Total third-party sales amounted to $2.99 billion, below the estimate of $3.06 billion, reflecting a 3.3% year-over-year increase [4] - Intersegment sales for alumina were $474 million, exceeding the estimate of $451.6 million, but showed a year-over-year decline of 16.1% [4] - Total sales for alumina were $1.43 billion, slightly above the estimate of $1.4 billion, but represented a year-over-year decrease of 14% [4] Stock Performance - Alcoa's shares have returned +18.1% over the past month, significantly outperforming the Zacks S&P 500 composite's +1.1% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Financial Data and Key Metrics Changes - Revenue decreased 1% sequentially to $3 billion, with net income attributable to Alcoa increasing to $232 million from $164 million in the prior quarter, resulting in earnings per share of $0.88 [10][11] - Adjusted EBITDA was $270 million, reflecting a sequential decrease of $43 million primarily due to increased U.S. Section 232 tariff costs and lower alumina prices [11][12] - The year-to-date return on equity was 14.5%, with cash flow activities showing $1.5 billion in cash at the end of the quarter [13][14] Business Line Data and Key Metrics Changes - In the alumina segment, third-party revenue decreased 9% due to lower volumes and bauxite prices, while the aluminum segment saw a 4% increase in revenue driven by higher average realized prices [10][12] - Adjusted EBITDA for the alumina segment decreased by $72 million, while the aluminum segment's adjusted EBITDA increased by $210 million due to higher metal prices and lower alumina costs [11][12] Market Data and Key Metrics Changes - Alumina prices have declined significantly, with recent prices around $315 per metric ton, while LME prices for aluminum rose approximately 7% sequentially to $2,775 per metric ton [17][18] - The Midwest premium has increased, reaching import parity, which reflects declining inventories and reduced aluminum imports [18][19] Company Strategy and Development Direction - The company is focused on safety, operational stability, and strategic investments, including a new long-term energy contract for Massena operations and a $60 million investment in anode bake furnace [7][9] - Alcoa is also developing a gallium plant in Australia, supported by U.S. and Australian governments, which will enhance its role in the critical minerals supply chain [6][29] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of safety following a workplace fatality and emphasized the commitment to improving operational performance and profitability [4][9] - The outlook for the fourth quarter includes expectations for higher shipments and improved performance in the alumina segment, while anticipating increased tariff costs [15][16] Other Important Information - The company announced the permanent closure of the Kwinana Refinery, which will impact asset retirement obligations and restructuring charges [11][14] - The approvals process for Australian mining operations is progressing, with expectations for ministerial approvals by the end of 2026 [8][9] Q&A Session Summary Question: Capital allocation and M&A opportunities - Management indicated a priority to pay down debt while evaluating returns to shareholders and potential M&A opportunities across the product line [23][25][27] Question: U.S.-Australia Alcoa partnership - The partnership was initiated with Japanese entities and aims to establish a gallium supply chain outside of China, with first production targeted by the end of 2026 [29][30] Question: Canadian-U.S. negotiations regarding tariffs - Management is providing information to both governments to facilitate understanding of trade flows, emphasizing the U.S. aluminum supply shortage [34][58] Question: Demand dynamics in the U.S. market - Management noted steady demand in packaging and electrical sectors, with weakness in automotive attributed to tariff uncertainties and potential substitution by electric vehicles [80] Question: Updates on aluminum safeguards in Europe - Management mentioned that the next significant regulations in Europe will be CBAM, expected to positively impact Alcoa by raising European premiums [82]