Alcoa Gains 8%, United States Antimony Jumps 10% After Alcoa’s Q3 Beat and Data Center Site Sale; Cleveland-Cliffs Rises 2%
An aluminum giant's earnings surprise and an unexpected land deal sent its shares surging, while a small antimony miner somehow climbed even higher without any news at all.
An earnings beat and a data center land deal are sending an aluminum producer’s shares sharply higher. Alcoa (NYSE:AA | AA Price Prediction) shares are up 8% to $43.69 in morning trading. Its adjusted earnings exceeded analyst estimates, and the company agreed to sell part of a New York site for data center development.
Meanwhile, United States Antimony (NYSEAMERICAN:UAMY) shares are up 10% to $3.05, beating even Alcoa stock. United States Antimony mines and processes antimony, a critical mineral tied to U.S. national security and defense procurement.
The Materials Select Sector SPDR ETF (NYSEARCA:XLB) is up 2%, a far smaller advance than either Alcoa or United States Antimony stock. Meanwhile, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is essentially flat, leaving both metals names well ahead of the broad market.
Earnings Beat and Data Center Deal Lift Alcoa
Alcoa, which produces bauxite, alumina and aluminum, reported Q3 2026 results after Thursday’s close with adjusted earnings of $1.82 per share, exceeded the $1.49 consensus estimate. Its revenue of $3.7 billion missed the $3.76 billion forecast.
Production also improved, with Alcoa lifting aluminum output for the sixth consecutive quarter and completing the restart of its Alumar smelter in Brazil. Alumina output rose 11% sequentially as the Pinjarra refinery recovered stability. Chief Executive William Oplinger summarized the period. He did so by stating, “During the third quarter, we advanced the AliGroup acquisition, delivered improved refinery performance, and increased production across our smelting portfolio.”
A second catalyst came from Alcoa’s Massena East site in New York, where the company agreed to sell portions of the land for data center development (the same AI expansion driving demand for the power, cooling, and networking suppliers we rounded up in a free report). Those agreements carry potential proceeds of up to $315 million. Oplinger described the sale on the earnings call as a first step in generating cash from its assets.
Alumina Tightness Versus Softer Aluminum Prices
The bull case for Alcoa rests on what Oplinger described as tightening alumina supply outside China. Management pointed to a “clear divergence between softer market conditions in China and tightening fundamentals outside China.”
Softer aluminum pricing is the main concern weighing on Alcoa, and it dragged down the company’s third-quarter metal sales. Lower prices and shipments drove a 9% sequential decline in Alcoa’s Aluminum segment revenue. Alcoa also expects $30 million in higher raw material costs and another $30 million in adverse alumina costs to pressure that segment in Q4 2026.
Global aluminum inventories remain historically low, according to Alcoa’s management. Executives described North America and Europe as “structurally short of metal.”
Antimony Rally Outpaces the Materials Fund
United States Antimony shares are climbing without a fresh company announcement behind the move. The company has a sole-source Defense Logistics Agency contract. It supplies military-specification antimony ingots, and it has expanded its Thompson Falls smelter in Montana.
Steelmaker Cleveland-Cliffs (NYSE:CLF) makes flat-rolled products for automotive, infrastructure and manufacturing customers. Alcoa’s aluminum order book looks different, with packaging and electrical markets leading demand and most products “sold out or tightly committed.” CLF stock is up 2% to $12.42.
AliGroup Deal and Asset Sales Set Alcoa’s Path
Looking ahead for Alcoa is whether the AliGroup acquisition of South32’s bauxite, alumina and aluminum assets closes in the first half of 2027. Funding came from a $2.6 billion senior notes offering, which Alcoa plans to pair with cash on hand to cover about $3.1 billion in cash consideration before focusing on rapid debt reduction.
Traders can watch for whether the Massena East sale closes within the expected six months, since Alcoa’s initial proceeds of $50 million to $65 million depend on permitting and regulatory approvals. For United States Antimony stock, the open variable is whether its gain holds without a company-specific catalyst.
Alcoa shares now reflect a sharp earnings beat. However, Q4 cost pressures and softer aluminum prices remain unresolved, so investors should keep their positions moderate.
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David Moadel is financial writer specializing in stocks, ETFs, options, precious metals, and Bitcoin. David has written well over 1,000 articles for leading online publications, helping investors understand markets, income strategies, and risk.His work has appeared in The Motley Fool, InvestorPlace, U.S. News & World Report, TipRanks, ValueWalk, Benzinga, Market Realist, TalkMarkets, Finmasters, 24/7 Wall St., and others.With a master’s degree in education, David has taught at the elementary, high school, and college levels. That teaching background shapes his writing style: clear, educational, and practical. David has also built a loyal social-media audience by providing trustworthy financial content on YouTube, X/Twitter, and StockTwits.
