Century Aluminum (NASDAQ:CENX) Hits New 1-Year High – What’s Next?

Century Aluminum Company (NASDAQ:CENX)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $59.84 and last traded at $55.8830, with a volume of 774842 shares trading hands. The stock had previously closed at $49.65.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. B. Riley Financial boosted their price target on Century Aluminum from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Century Aluminum in a report on Wednesday, January 21st. Wells Fargo & Company lifted their target price on shares of Century Aluminum from $61.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Wall Street Zen raised shares of Century Aluminum from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Finally, Zacks Research upgraded shares of Century Aluminum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $57.00.

Century Aluminum Price Performance

The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 0.52. The business’s 50-day simple moving average is $51.21 and its two-hundred day simple moving average is $39.34. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 146.73 and a beta of 2.17.

Century Aluminum (NASDAQ:CENX) last posted its quarterly earnings data on Thursday, February 19th. The industrial products company reported $1.25 EPS for the quarter, meeting analysts’ consensus estimates of $1.25. Century Aluminum had a net margin of 1.65% and a return on equity of 5.57%. The company had revenue of $633.70 million for the quarter, compared to analyst estimates of $661.63 million. During the same period in the prior year, the firm posted $0.49 EPS. The company’s quarterly revenue was up .4% on a year-over-year basis. As a group, research analysts expect that Century Aluminum Company will post 2.76 EPS for the current fiscal year.

Insider Activity

In other Century Aluminum news, EVP John Dezee sold 66,000 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $50.72, for a total transaction of $3,347,520.00. Following the sale, the executive vice president owned 97,647 shares of the company’s stock, valued at approximately $4,952,655.84. This represents a 40.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jesse E. Gary sold 150,000 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $55.47, for a total value of $8,320,500.00. Following the sale, the chief executive officer owned 142,580 shares of the company’s stock, valued at approximately $7,908,912.60. The trade was a 51.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 401,626 shares of company stock worth $20,847,911 in the last three months. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Century Aluminum

Several large investors have recently added to or reduced their stakes in the business. Convergence Investment Partners LLC acquired a new stake in shares of Century Aluminum during the 3rd quarter worth approximately $942,000. New Century Financial Group LLC acquired a new position in shares of Century Aluminum during the 3rd quarter valued at $987,000. Campbell & CO Investment Adviser LLC boosted its stake in Century Aluminum by 620.8% during the third quarter. Campbell & CO Investment Adviser LLC now owns 143,144 shares of the industrial products company’s stock worth $4,203,000 after acquiring an additional 123,285 shares in the last quarter. SummerHaven Investment Management LLC bought a new position in Century Aluminum during the third quarter worth $1,277,000. Finally, Principal Financial Group Inc. grew its holdings in Century Aluminum by 35.4% in the third quarter. Principal Financial Group Inc. now owns 350,858 shares of the industrial products company’s stock worth $10,301,000 after purchasing an additional 91,647 shares during the period. Institutional investors and hedge funds own 61.59% of the company’s stock.

Century Aluminum Company Profile

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.