Century Aluminum (NASDAQ:CENX) Stock Price Down 10.3% – Should You Sell?

Century Aluminum Company (NASDAQ:CENX)’s share price fell 10.3% on Wednesday . The stock traded as low as $42.00 and last traded at $40.9480. 1,800,118 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 2,173,521 shares. The stock had previously closed at $45.66.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wall Street Zen cut Century Aluminum from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Zacks Research cut shares of Century Aluminum from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. B. Riley Financial reissued a “buy” rating on shares of Century Aluminum in a research note on Tuesday. Weiss Ratings downgraded shares of Century Aluminum from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, July 21st. Finally, Wells Fargo & Company lifted their target price on shares of Century Aluminum from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Century Aluminum presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Century Aluminum Stock Up 4.1%

The company has a debt-to-equity ratio of 0.31, a current ratio of 2.75 and a quick ratio of 1.61. The firm has a 50-day simple moving average of $46.76 and a two-hundred day simple moving average of $53.91. The company has a market cap of $4.47 billion, a PE ratio of 7.80 and a beta of 1.96.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.13. Century Aluminum had a return on equity of 33.83% and a net margin of 22.63%.The company had revenue of $752.10 million during the quarter, compared to analysts’ expectations of $817.15 million. Century Aluminum’s revenue for the quarter was up 59.0% on a year-over-year basis. Research analysts anticipate that Century Aluminum Company will post 8.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CENX. Jones Financial Companies Lllp purchased a new stake in shares of Century Aluminum during the first quarter worth about $25,000. Private Trust Co. NA purchased a new position in shares of Century Aluminum during the fourth quarter valued at approximately $28,000. Hollencrest Capital Management acquired a new stake in Century Aluminum during the first quarter worth approximately $29,000. EverSource Wealth Advisors LLC boosted its position in Century Aluminum by 253.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 1,306 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in Century Aluminum in the 3rd quarter worth approximately $34,000. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

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.