13 Best Blue Chip Stocks to Buy Under $50

9. Alcoa Corporation (NYSE:AA)

Number of Hedge Fund Holders: 40

Share Price as of the Close of December 10: $44.6

Alcoa Corporation (NYSE:AA) is among the best blue-chip stocks to invest in.

On December 5, JPMorgan raised its price target on Alcoa Corporation (NYSE:AA) to $45 from $35 as part of the firm’s broader 2026 outlook for North American metals and mining companies. The firm kept a Neutral rating on the shares.

Alcoa Corporation (NYSE:AA)’s third-quarter earnings showed a modest improvement as revenue rose 3% from the same period last year, coming in at just under $3 billion. The company said that the higher Midwest premium it earned on US aluminum production helped offset the impact of tariffs and other costs tied to aluminum imports. Much of this strength came from its shipments from Alcoa’s Canadian smelters to customers in the US.

Alcoa Corporation (NYSE:AA) continues to focus on building long-term shareholder value through several strategic efforts. In 2024, it completed its first major acquisition by purchasing Australia’s Alumina Limited, a move that further solidified its position as a leading pure-play upstream aluminum producer. The company is also putting capital into expanding its operations and lowering costs through organic investments.

Alcoa Corporation (NYSE:AA)’s commitment to expansion was also seen recently, as in October, the company announced two key developments for its Massena Operations in New York. The first was a new 10-year energy agreement with the New York Power Authority, which aims to provide the facility with 240 MW of competitively priced renewable energy starting April 1, 2026, with the option to extend the contract for up to 10 additional years. The second was a planned $60 million investment to upgrade the site’s anode baking furnace, an essential part of the smelting process.

Alcoa Corporation (NYSE:AA) is an integrated aluminum producer and one of the world’s largest miners of bauxite, the essential raw material used to produce aluminum.