Century Aluminum (NASDAQ:CENX) Reaches New 12-Month High – Should You Buy?

Century Aluminum Company (NASDAQ:CENX)’s share price reached a new 52-week high on Thursday . The company traded as high as $50.52 and last traded at $51.14, with a volume of 24067 shares. The stock had previously closed at $49.00.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CENX. BMO Capital Markets upped their price objective on Century Aluminum from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Wells Fargo & Company lifted their price objective on shares of Century Aluminum from $46.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Century Aluminum in a research report on Wednesday, January 21st. Finally, Zacks Research lowered Century Aluminum from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Century Aluminum presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Century Aluminum Stock Up 2.1%

The company has a debt-to-equity ratio of 0.69, a current ratio of 1.71 and a quick ratio of 0.79. The business’s fifty day moving average price is $38.03 and its two-hundred day moving average price is $30.12. The stock has a market capitalization of $4.67 billion, a PE ratio of 58.86 and a beta of 2.26.

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

Insiders Place Their Bets

In other Century Aluminum news, CEO Jesse E. Gary sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $48.19, for a total transaction of $7,228,500.00. Following the completion of the transaction, the chief executive officer directly owned 292,580 shares of the company’s stock, valued at approximately $14,099,430.20. This trade represents a 33.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC acquired a new stake in Century Aluminum during the 4th quarter worth about $899,000. Ruffer LLP purchased a new stake in shares of Century Aluminum in the fourth quarter worth about $936,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Century Aluminum by 48.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,270 shares of the industrial products company’s stock worth $1,029,000 after acquiring an additional 8,592 shares during the period. Private Trust Co. NA purchased a new position in Century Aluminum during the fourth quarter valued at approximately $28,000. Finally, State of Alaska Department of Revenue lifted its holdings in Century Aluminum by 1.5% in the fourth quarter. State of Alaska Department of Revenue now owns 30,604 shares of the industrial products company’s stock valued at $1,198,000 after acquiring an additional 441 shares during the period. 61.59% of the stock is currently owned by institutional investors and hedge funds.

Century Aluminum Company Profile

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.