Century Aluminum (NASDAQ:CENX) Hits New 1-Year High – Here’s Why

Shares of Century Aluminum Company (NASDAQ:CENX) hit a new 52-week high on Thursday . The stock traded as high as $48.58 and last traded at $47.92, with a volume of 1990950 shares changing hands. The stock had previously closed at $46.34.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CENX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Century Aluminum in a research note on Wednesday, October 8th. BMO Capital Markets raised their price target on shares of Century Aluminum from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Zacks Research raised shares of Century Aluminum from a “hold” rating to a “strong-buy” rating in a report on Monday, January 5th. Finally, Wells Fargo & Company raised their target price on Century Aluminum from $46.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $41.00.

Century Aluminum Trading Up 3.4%

The company’s fifty day simple moving average is $34.32 and its 200-day simple moving average is $28.10. The firm has a market capitalization of $4.47 billion, a PE ratio of 56.38 and a beta of 2.26. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.71 and a quick ratio of 0.79.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings results on Thursday, November 6th. The industrial products company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.23). Century Aluminum had a return on equity of 12.83% and a net margin of 3.47%.The company had revenue of $632.20 million for the quarter, compared to analyst estimates of $629.85 million. During the same quarter last year, the company earned $0.63 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, sell-side analysts expect that Century Aluminum Company will post 2.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Century Aluminum by 22.1% in the first quarter. AQR Capital Management LLC now owns 39,001 shares of the industrial products company’s stock valued at $724,000 after buying an additional 7,051 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in Century Aluminum in the 1st quarter worth approximately $25,000. Empowered Funds LLC boosted its holdings in shares of Century Aluminum by 1.8% during the 1st quarter. Empowered Funds LLC now owns 59,186 shares of the industrial products company’s stock worth $1,098,000 after purchasing an additional 1,069 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Century Aluminum by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 124,001 shares of the industrial products company’s stock valued at $2,301,000 after purchasing an additional 21,702 shares during the last quarter. Finally, Three Seasons Wealth LLC purchased a new position in Century Aluminum during the second quarter worth approximately $451,000. 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.