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Alcoa Corporation (NYSE:AA) is one of the

8 Best American Mining Stocks to Buy Right Now.

On May 11, 2026, Alcoa Corporation (NYSE:AA) announced a $65M investment to expand foundry production capabilities at its Mosjoen smelter in Norway to incorporate recycled content into the casting process. The company said the project will help expand its low-carbon aluminum product offering while integrating post-consumer recycled aluminum into its products for the first time. Alcoa added that the investment will expand and upgrade the Mosjoen casthouse, increasing production capacity by up to 75,000 metric tons. Since 2020, the company has invested approximately $180M in sustaining and return-seeking capital projects at the smelter.

On May 7, 2026, Wells Fargo upgraded Alcoa Corporation (NYSE:AA) to Overweight from Equal Weight while raising the price target to $70 from $67. The firm said aluminum price strength could persist well into 2027 due to limited capacity additions and low global inventories. Wells Fargo added that the Iran conflict has further tightened aluminum market conditions and believes the potential benefit to Alcoa from stronger aluminum prices is underappreciated at current share levels. The firm also pointed to possible catalysts tied to monetizing idled assets for data center conversion opportunities.

Alcoa Corporation (NYSE:AA) operates across bauxite mining, alumina refining, aluminum production, and energy generation globally.

While we acknowledge the potential of AA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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