Century Aluminum Company (CENX) – What Are Analysts Saying About This Stock?

Shares of Century Aluminum Company (NASDAQ:CENX) have received an average rating of “Hold” from the seven analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $64.60.

A number of brokerages have weighed in on CENX. Wells Fargo & Company decreased their target price on shares of Century Aluminum from $83.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, September 18th. B. Riley Financial reaffirmed a “buy” rating on shares of Century Aluminum in a research note on Tuesday, August 18th. UBS Group dropped their price objective on shares of Century Aluminum from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. Zacks Research downgraded shares of Century Aluminum from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. Finally, Barclays started coverage on shares of Century Aluminum in a report on Wednesday. They set an “equal weight” rating and a $40.00 price objective for the company.

Century Aluminum Price Performance

CENX opened at $35.03 on Tuesday. The stock has a 50-day moving average price of $41.78 and a 200-day moving average price of $50.71. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.75 and a quick ratio of 1.61. Century Aluminum has a 1 year low of $25.40 and a 1 year high of $70.43. The firm has a market cap of $3.47 billion, a PE ratio of 6.05 and a beta of 2.07.

Century Aluminum (NASDAQ:CENX) last posted its earnings results on Thursday, August 6th. The industrial products company reported $2.46 EPS 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 business had revenue of $752.10 million during the quarter, compared to analyst estimates of $817.15 million. The company’s revenue was up 59.0% on a year-over-year basis. Sell-side analysts predict that Century Aluminum will post 7.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Century Aluminum

Several institutional investors have recently bought and sold shares of CENX. Cetera Investment Advisers raised its stake in Century Aluminum by 510.6% in the 1st quarter. Cetera Investment Advisers now owns 43,612 shares of the industrial products company’s stock worth $2,560,000 after acquiring an additional 36,469 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in Century Aluminum in the 2nd quarter valued at $2,114,000. Steamboat Capital Partners LLC increased its holdings in shares of Century Aluminum by 7.4% in the second quarter. Steamboat Capital Partners LLC now owns 296,666 shares of the industrial products company’s stock valued at $13,650,000 after purchasing an additional 20,418 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Century Aluminum by 98.0% in the first quarter. Bank of America Corp DE now owns 608,794 shares of the industrial products company’s stock valued at $35,730,000 after purchasing an additional 301,268 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Century Aluminum during the second quarter worth approximately $2,140,000. 61.59% of the stock is currently owned by institutional investors and hedge funds.

About Century Aluminum

Century Aluminum Company is a producer of primary aluminum. The company operates aluminum reduction facilities that convert alumina into aluminum metal through the electrolytic smelting process. Its products include standard-grade and value-added primary aluminum, which is supplied to manufacturers and other industrial customers.

Century Aluminum serves markets such as automotive, aerospace, construction, packaging and consumer products. Its operations have included facilities in the United States and Iceland, including smelters in Kentucky, South Carolina and at Grundartangi, Iceland.