Bornite Capital Management LP Buys New Holdings in Century Aluminum Company $CENX

Bornite Capital Management LP bought a new stake in shares of Century Aluminum Company (NASDAQ:CENX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 250,000 shares of the industrial products company’s stock, valued at approximately $9,795,000. Century Aluminum accounts for 1.0% of Bornite Capital Management LP’s portfolio, making the stock its 25th biggest holding.

Several other institutional investors also recently bought and sold shares of CENX. Glencore plc lifted its holdings in Century Aluminum by 33.6% in the 4th quarter. Glencore plc now owns 53,511,894 shares of the industrial products company’s stock worth $2,096,596,000 after buying an additional 13,454,538 shares during the period. Drummond Knight Asset Management Pty Ltd purchased a new stake in Century Aluminum in the 4th quarter worth approximately $12,278,000. Jefferies Financial Group Inc. purchased a new stake in Century Aluminum in the 3rd quarter worth approximately $6,264,000. Insight Wealth Strategies LLC purchased a new stake in Century Aluminum in the 4th quarter worth approximately $6,036,000. Finally, Ruffer LLP purchased a new stake in Century Aluminum in the 4th quarter worth approximately $936,000. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CENX has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on Century Aluminum from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Weiss Ratings upgraded Century Aluminum from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. B. Riley Financial increased their price objective on Century Aluminum from $68.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Zacks Research cut Century Aluminum from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Finally, Wall Street Zen upgraded Century Aluminum from a “buy” rating to a “strong-buy” rating in a report on Saturday. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $80.00.

Insiders Place Their Bets

In related news, CEO Jesse E. Gary sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $55.47, for a total transaction of $8,320,500.00. Following the completion of the transaction, the chief executive officer owned 142,580 shares of the company’s stock, valued at $7,908,912.60. This trade represents a 51.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is currently owned by company insiders.

Century Aluminum Stock Up 0.4%

CENX stock opened at $61.19 on Friday. Century Aluminum Company has a twelve month low of $16.59 and a twelve month high of $70.43. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.37. The firm has a market cap of $6.06 billion, a PE ratio of 18.27 and a beta of 1.90. The business has a 50 day moving average of $62.70 and a 200 day moving average of $51.19.

Century Aluminum 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.