Century Aluminum (NASDAQ:CENX) Sets New 1-Year High on Analyst Upgrade

Century Aluminum (NASDAQ:CENX)’s share price reached a new 52-week high on Wednesday after BMO Capital Markets raised their price target on the stock from $16.00 to $18.00. BMO Capital Markets currently has a market perform rating on the stock. Century Aluminum traded as high as $22.29 and last traded at $22.29, with a volume of 805694 shares traded. The stock had previously closed at $21.05.

Several other research analysts have also recently weighed in on CENX. B. Riley boosted their price objective on shares of Century Aluminum from $22.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday. StockNews.com cut Century Aluminum from a “hold” rating to a “sell” rating in a report on Friday, November 1st.

Institutional Investors Weigh In On Century Aluminum

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Century Aluminum by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 5,819,805 shares of the industrial products company’s stock worth $89,567,000 after purchasing an additional 39,900 shares during the period. Encompass Capital Advisors LLC increased its stake in 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 worth $23,477,000 after purchasing an additional 1,294,538 shares during the period. American Century Companies Inc. lifted its position in shares of Century Aluminum by 30.4% during the second quarter. American Century Companies Inc. now owns 1,186,243 shares of the industrial products company’s stock worth $19,870,000 after purchasing an additional 276,304 shares during the last quarter. Castle Hook Partners LP boosted its stake in shares of Century Aluminum by 1,147.0% during the first quarter. Castle Hook Partners LP now owns 976,894 shares of the industrial products company’s stock valued at $15,034,000 after purchasing an additional 898,554 shares during the period. Finally, Impala Asset Management LLC increased its stake in Century Aluminum by 20.6% in the 2nd quarter. Impala Asset Management LLC now owns 850,000 shares of the industrial products company’s stock worth $14,238,000 after buying an additional 145,000 shares during the period. Hedge funds and other institutional investors own 61.59% of the company’s stock.

Century Aluminum Stock Up 6.1 %

The company has a market cap of $2.07 billion, a P/E ratio of 10.12 and a beta of 2.47. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 1.72. The business’s fifty day moving average is $15.67 and its two-hundred day moving average is $16.21.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.31. Century Aluminum had a net margin of 10.32% and a negative return on equity of 0.04%. The firm had revenue of $539.10 million for the quarter, compared to the consensus estimate of $587.10 million. During the same period last year, the firm earned ($0.13) earnings per share. Equities analysts predict that Century Aluminum will post 0.07 EPS for the current year.

About Century Aluminum

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.