Century Aluminum (NASDAQ:CENX) Reaches New 12-Month High – Here’s Why

Century Aluminum Company (NASDAQ:CENX)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $50.16 and last traded at $48.0480, with a volume of 397284 shares traded. The stock had previously closed at $47.87.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. BMO Capital Markets increased their price objective on Century Aluminum from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Zacks Research lowered Century Aluminum from a “strong-buy” rating to a “hold” rating in a research report on Monday. Wells Fargo & Company upped their target price on shares of Century Aluminum from $46.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Century Aluminum in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Century Aluminum has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Century Aluminum Stock Down 0.1%

The firm has a market cap of $4.46 billion, a P/E ratio of 56.38 and a beta of 2.26. The firm’s 50 day moving average is $35.70 and its two-hundred day moving average is $28.99. The company has a current ratio of 1.71, a quick ratio of 0.79 and a debt-to-equity ratio of 0.69.

Century Aluminum (NASDAQ:CENX) last issued its earnings results on Thursday, November 6th. The industrial products company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.23). The firm had revenue of $632.20 million during the quarter, compared to the consensus estimate of $629.85 million. Century Aluminum had a net margin of 3.47% and a return on equity of 12.83%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. As a group, research analysts anticipate that Century Aluminum Company will post 2.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in shares of Century Aluminum by 22.1% during the first quarter. AQR Capital Management LLC now owns 39,001 shares of the industrial products company’s stock worth $724,000 after purchasing an additional 7,051 shares during the period. Jones Financial Companies Lllp bought a new stake in Century Aluminum during the 1st quarter worth approximately $25,000. Empowered Funds LLC raised its holdings in Century Aluminum by 1.8% during the 1st quarter. Empowered Funds LLC now owns 59,186 shares of the industrial products company’s stock worth $1,098,000 after buying an additional 1,069 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Century Aluminum by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 124,001 shares of the industrial products company’s stock valued at $2,301,000 after buying an additional 21,702 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Century Aluminum by 1,291.8% in the second quarter. Farther Finance Advisors LLC now owns 1,364 shares of the industrial products company’s stock valued at $25,000 after buying an additional 1,266 shares during the period. 61.59% of the stock is owned by institutional investors and hedge funds.

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.