Century Aluminum (NASDAQ:CENX) Trading Up 7.5% – What’s Next?

Century Aluminum (NASDAQ:CENX) shares shot up 7.5% on Tuesday . The stock traded as high as $19.65 and last traded at $19.93. 1,472,639 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 1,663,581 shares. The stock had previously closed at $18.55.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wolfe Research upgraded Century Aluminum from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research note on Tuesday, December 3rd. B. Riley upped their price target on Century Aluminum from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. BMO Capital Markets upgraded Century Aluminum from a “market perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research note on Monday. Finally, StockNews.com lowered shares of Century Aluminum from a “hold” rating to a “sell” rating in a research note on Monday.

Century Aluminum Trading Up 8.9 %

The firm has a market cap of $1.87 billion, a P/E ratio of 6.40 and a beta of 2.50. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.56 and a current ratio of 1.71. The firm has a fifty day moving average of $19.23 and a 200-day moving average of $18.16.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings results on Thursday, February 20th. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. Century Aluminum had a return on equity of 13.38% and a net margin of 14.69%. The company had revenue of $631.00 million for the quarter, compared to analysts’ expectations of $515.27 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. Equities research analysts forecast that Century Aluminum will post 2.76 earnings per share for the current year.

Insider Buying and Selling at Century Aluminum

In other Century Aluminum news, CEO Jesse E. Gary sold 29,243 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $18.97, for a total value of $554,739.71. Following the sale, the chief executive officer now directly owns 50,753 shares in the company, valued at approximately $962,784.41. The trade was a 36.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Century Aluminum

Hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its stake in Century Aluminum by 16.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 621,300 shares of the industrial products company’s stock worth $10,084,000 after acquiring an additional 89,621 shares in the last quarter. Congress Asset Management Co. lifted its position in Century Aluminum by 1.3% in the 3rd quarter. Congress Asset Management Co. now owns 204,302 shares of the industrial products company’s stock worth $3,316,000 after buying an additional 2,700 shares in the last quarter. Olympiad Research LP purchased a new position in shares of Century Aluminum during the 3rd quarter valued at $180,000. Principal Financial Group Inc. grew its holdings in shares of Century Aluminum by 17.0% during the 3rd quarter. Principal Financial Group Inc. now owns 301,992 shares of the industrial products company’s stock valued at $4,901,000 after acquiring an additional 43,881 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of Century Aluminum by 612.1% in the third quarter. Covestor Ltd now owns 13,993 shares of the industrial products company’s stock worth $227,000 after acquiring an additional 12,028 shares during the last quarter. 61.59% of the stock is owned by hedge funds and other institutional investors.

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.