Century Aluminum Company (NASDAQ:CENX) Given Consensus Rating of “Buy” by Brokerages

Century Aluminum Company (NASDAQ:CENX) has been assigned a consensus rating of “Buy” from the five research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $54.3333.

A number of equities research analysts have recently weighed in on CENX shares. Wells Fargo & Company raised their price objective on shares of Century Aluminum from $46.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, January 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Century Aluminum in a report on Wednesday, January 21st. BMO Capital Markets raised their price target on Century Aluminum from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Zacks Research raised Century Aluminum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. Finally, Wall Street Zen upgraded Century Aluminum from a “hold” rating to a “buy” rating in a report on Saturday, February 21st.

Century Aluminum Stock Performance

Shares of CENX opened at $51.56 on Monday. Century Aluminum has a 1 year low of $13.05 and a 1 year high of $55.99. The stock has a market capitalization of $4.81 billion, a PE ratio of 128.90 and a beta of 2.16. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.97. The stock has a 50-day simple moving average of $46.76 and a 200-day simple moving average of $34.61.

Century Aluminum (NASDAQ:CENX) last issued its earnings results on Thursday, February 19th. The industrial products company reported $1.25 earnings per share for the quarter, meeting the consensus estimate of $1.25. Century Aluminum had a net margin of 1.65% and a return on equity of 5.55%. The firm had revenue of $633.70 million for the quarter, compared to analysts’ expectations of $661.63 million. During the same quarter last year, the company earned $0.49 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year. On average, analysts predict that Century Aluminum will post 2.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Century Aluminum news, EVP John Dezee sold 66,000 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $50.72, for a total value of $3,347,520.00. Following the transaction, the executive vice president directly owned 97,647 shares in the company, valued at $4,952,655.84. This represents a 40.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jesse E. Gary sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $48.19, for a total transaction of $7,228,500.00. Following the sale, the chief executive officer directly owned 292,580 shares in the company, valued at approximately $14,099,430.20. The trade was a 33.89% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Century Aluminum

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fox Run Management L.L.C. purchased a new position in Century Aluminum during the 2nd quarter worth approximately $641,000. Convergence Investment Partners LLC acquired a new stake in shares of Century Aluminum in the third quarter valued at approximately $942,000. New Century Financial Group LLC purchased a new position in shares of Century Aluminum during the third quarter worth approximately $987,000. Campbell & CO Investment Adviser LLC grew its position in shares of Century Aluminum by 620.8% during the third quarter. Campbell & CO Investment Adviser LLC now owns 143,144 shares of the industrial products company’s stock worth $4,203,000 after acquiring an additional 123,285 shares during the last quarter. Finally, SummerHaven Investment Management LLC acquired a new position in shares of Century Aluminum in the 3rd quarter valued at $1,277,000. 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.