Zacks Investment Research downgraded shares of NORANDA ALUMINM (NOR) from NEUTRAL to UNDERPERFORM on January 15, 2013, with a target price of $6.10.
Noranda Aluminum Holding Corporation, headquartered in Franklin, Tennessee, is a North American integrated producer of primary aluminum products and rolled aluminum coils. It operates through two segments, Upstream and Downstream. The upstream business is a vertically integrated producer of primary aluminum, consisting of a bauxite mine, an alumina refinery and an aluminum smelter. The bauxite mine provides all of the bauxite ore used for the production of alumina at its alumina refinery. Alumina Refinery processes bauxite, delivered from the bauxite mine, into smelter grade alumina for use in its New Madrid smelter. All of Noranda's primary aluminum production occurs at the New Madrid smelter which also includes a fabrication facility that converts molten aluminum into value added products such as rod, extrusion billet and foundry ingot. The downstream business, known as Norandal USA, Inc. is a manufacturer of aluminum foil and light gauge sheet that owns and operates rolling mills in
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