Century Aluminum (NASDAQ:CENX) Shares Gap Down – Here’s What Happened

Century Aluminum Company (NASDAQ:CENX) gapped down prior to trading on Friday . The stock had previously closed at $49.70, but opened at $45.60. Century Aluminum shares last traded at $45.8260, with a volume of 1,645,329 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. B. Riley Financial raised their target price on Century Aluminum from $37.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, February 3rd. BMO Capital Markets increased their target price on shares of Century Aluminum from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Zacks Research downgraded shares of Century Aluminum from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Century Aluminum in a report on Wednesday, January 21st. Finally, Wells Fargo & Company lifted their price objective on Century Aluminum from $46.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, January 13th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Century Aluminum has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Century Aluminum Trading Down 9.6%

The stock has a fifty day moving average of $42.62 and a two-hundred day moving average of $32.24. The company has a market capitalization of $4.19 billion, a PE ratio of 52.90 and a beta of 2.24. The company has a current ratio of 1.71, a quick ratio of 0.79 and a debt-to-equity ratio of 0.69.

Insider Buying and Selling at Century Aluminum

In other news, CEO Jesse E. Gary sold 150,000 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $48.19, for a total value of $7,228,500.00. Following the completion of the sale, the chief executive officer owned 292,580 shares of the company’s stock, valued at approximately $14,099,430.20. This represents a 33.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Century Aluminum

Large investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp purchased a new stake in Century Aluminum during the first quarter valued at about $25,000. Private Trust Co. NA bought a new stake in shares of Century Aluminum in the 4th quarter valued at about $28,000. EverSource Wealth Advisors LLC lifted its stake in shares of Century Aluminum by 253.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 1,306 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Century Aluminum during the 3rd quarter valued at about $34,000. Finally, CWM LLC boosted its holdings in Century Aluminum by 26.3% during the 3rd quarter. CWM LLC now owns 1,592 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 332 shares during the period. Hedge funds and other institutional investors own 61.59% of the company’s stock.

About Century Aluminum

Century Aluminum Company is a primary aluminum producer that develops and operates smelters designed to supply low-carbon, high-purity aluminum products to a range of industrial and commercial markets. Established in 1995, the company has grown to become a significant North American aluminum producer with an expanding international footprint. Century Aluminum is headquartered in the United States and is focused on energy-efficient operations and cost management.

The company’s core operations include three primary aluminum smelting facilities located in Hawesville, Kentucky; Mount Holly, South Carolina; and Grundartangi, Iceland.