Century Aluminum (NASDAQ:CENX) Short Interest Update

Century Aluminum (NASDAQ:CENX) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 4,750,000 shares, a drop of 16.1% from the July 15th total of 5,660,000 shares. Currently, 9.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,420,000 shares, the days-to-cover ratio is presently 3.3 days.

Insider Activity

In related news, CEO Jesse E. Gary sold 60,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $16.21, for a total transaction of $972,600.00. Following the transaction, the chief executive officer now owns 62,447 shares of the company’s stock, valued at $1,012,265.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Century Aluminum

Several hedge funds have recently bought and sold shares of the stock. Encompass Capital Advisors LLC raised its position in shares of Century Aluminum by 1,208.7% in the second quarter. Encompass Capital Advisors LLC now owns 1,401,638 shares of the industrial products company’s stock valued at $23,477,000 after buying an additional 1,294,538 shares during the last quarter. Castle Hook Partners LP raised its holdings in Century Aluminum by 1,147.0% in the 1st quarter. Castle Hook Partners LP now owns 976,894 shares of the industrial products company’s stock valued at $15,034,000 after acquiring an additional 898,554 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Century Aluminum by 341.1% during the 2nd quarter. Bank of Montreal Can now owns 411,968 shares of the industrial products company’s stock worth $6,900,000 after purchasing an additional 318,579 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Century Aluminum by 125.7% during the second quarter. Assenagon Asset Management S.A. now owns 531,679 shares of the industrial products company’s stock worth $8,906,000 after purchasing an additional 296,101 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Century Aluminum by 30.4% in the second quarter. American Century Companies Inc. now owns 1,186,243 shares of the industrial products company’s stock valued at $19,870,000 after purchasing an additional 276,304 shares during the period. Hedge funds and other institutional investors own 61.59% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CENX. BMO Capital Markets reduced their price target on shares of Century Aluminum from $17.00 to $15.00 and set a “market perform” rating for the company in a research report on Friday, August 9th. B. Riley reduced their price objective on Century Aluminum from $24.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, StockNews.com raised Century Aluminum from a “sell” rating to a “hold” rating in a report on Monday, August 12th.

Century Aluminum Price Performance

Shares of CENX traded up $0.10 during mid-day trading on Friday, reaching $13.66. 1,308,354 shares of the company’s stock were exchanged, compared to its average volume of 1,443,573. The company has a quick ratio of 0.63, a current ratio of 1.67 and a debt-to-equity ratio of 0.77. Century Aluminum has a 52-week low of $5.70 and a 52-week high of $21.37. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 6.27 and a beta of 2.52. The company has a 50-day simple moving average of $16.00 and a two-hundred day simple moving average of $15.09.

Century Aluminum Company Profile

Century Aluminum Company, together with its subsidiaries, engages in the production of standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates an alumina production facility in Iceland, and a carbon anode production facility in the Netherlands.