Alcoa (AA) Stock Rallies After Q3 Earnings Spotlight Cheap Valuation

Alcoa stock climbed 2.6% to US$41.45 after the Q3 2026 report, a welcome bounce for investors who had just watched a 10% slide over the past month. On the surface, the headline looks simple. The company delivered Q3 basic earnings per share of US$1.83 on US$3.7b of revenue, with net income of US$483m. The real story sits on the balance sheet and valuation. Trailing earnings include a US$672m one off gain, yet the P/E multiple still sits near 7x and a discounted cash flow model points to a...