Century Aluminum (NASDAQ:CENX) Stock Gets Price Target Cut from B. Riley Financial

Century Aluminum (NASDAQ:CENX) had its target price lowered by B. Riley Financial from $72.00 to $64.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Several other equities research analysts have also weighed in on CENX. Wells Fargo & Company dropped their price target on Century Aluminum from $83.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, September 18th. Weiss Ratings restated a “hold (c+)” rating on shares of Century Aluminum in a report on Monday, October 19th. UBS Group lowered their target price on shares of Century Aluminum from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Barclays began coverage on Century Aluminum in a research report on Wednesday, October 14th. They set an “equal weight” rating and a $40.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Century Aluminum from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 20th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.60.

Century Aluminum Stock Down 8.3%

Shares of Century Aluminum stock opened at $30.07 on Tuesday. The company’s 50 day moving average price is $38.12 and its 200-day moving average price is $49.48. Century Aluminum has a 52-week low of $25.40 and a 52-week high of $70.43. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.61 and a current ratio of 2.75. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 5.19 and a beta of 2.17.

Century Aluminum (NASDAQ:CENX) last posted its earnings results on Thursday, November 5th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.09). Century Aluminum had a net margin of 22.63% and a return on equity of 33.83%. The business had revenue of $961.20 million for the quarter, compared to analysts’ expectations of $945.02 million. During the same period last year, the firm posted $0.56 earnings per share. Century Aluminum’s quarterly revenue was up 52.0% on a year-over-year basis. Equities research analysts forecast that Century Aluminum will post 7.64 EPS for the current year.

Institutional Trading of Century Aluminum

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its holdings in shares of Century Aluminum by 20.1% in the third quarter. Fifth Third Bancorp now owns 17,147 shares of the industrial products company’s stock valued at $617,000 after purchasing an additional 2,872 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of Century Aluminum by 84.7% during the third quarter. Maryland State Retirement & Pension System now owns 15,188 shares of the industrial products company’s stock worth $546,000 after purchasing an additional 6,967 shares during the period. Lido Advisors LLC lifted its holdings in shares of Century Aluminum by 18.0% during the third quarter. Lido Advisors LLC now owns 14,323 shares of the industrial products company’s stock worth $515,000 after purchasing an additional 2,185 shares during the period. Penn Capital Management Company LLC purchased a new stake in Century Aluminum in the third quarter valued at approximately $8,976,000. Finally, Fulcrum Asset Management LLP purchased a new stake in Century Aluminum in the third quarter valued at approximately $198,000. Institutional investors own 61.59% of the company’s stock.

About Century Aluminum

Century Aluminum Company is a producer of primary aluminum. The company operates aluminum smelters that convert alumina into aluminum metal, supplying standard-grade and value-added products used in transportation, construction, packaging, aerospace, and other industrial applications.

Century Aluminum’s operations are located in the United States and Iceland. Its U.S. facilities include the Sebree smelter in Kentucky and the Mt. Holly smelter in South Carolina, while its Icelandic operations are based at the Grundartangi aluminum smelter.