RTTNews | Oct 15, 2021 10:17AM EDT

10:17 Friday, October 15, 2021 (RTTNews.com) - Alcoa Corp. (AA) shares are trading more than 11 percent higher on Friday morning, after the company recorded a profit for the third quarter from loss last year. The company said an increase in aluminum and alumina prices were higher for the quarter and sales climbed from the previous year.

For the third quarter, net profit was $337 million or $1.76 per share, compared to loss of $49 million or $0.26 per share in the prior year. On an adjusted basis, earnings were $2.05 per share.

Revenue for the quarter increased to $3.109 billion, from $2.36 billion in the previous year.

Currently, shares are at $54.15, up 11.34 percent from the previous close of $48.60 on a volume of 8,059,971. For the 52-week period, the shares have traded in a range of $12.03-$54.75 on average volume of 7,647,881.

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