Century Aluminum (NASDAQ:CENX) Reaches New 1-Year High – Time to Buy?

Century Aluminum Company (NASDAQ:CENX) hit a new 52-week high during trading on Monday . The stock traded as high as $64.22 and last traded at $64.0120, with a volume of 930083 shares changing hands. The stock had previously closed at $62.57.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Century Aluminum from $61.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Wall Street Zen raised shares of Century Aluminum from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Zacks Research upgraded shares of Century Aluminum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 17th. B. Riley Financial raised their target price on Century Aluminum from $64.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Century Aluminum in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Century Aluminum presently has an average rating of “Buy” and a consensus price target of $57.00.

Century Aluminum Price Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 0.98. The stock’s 50 day moving average price is $52.08 and its two-hundred day moving average price is $40.11. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 159.82 and a beta of 1.99.

Century Aluminum (NASDAQ:CENX) last announced its earnings results on Thursday, February 19th. The industrial products company reported $1.25 EPS for the quarter, hitting the consensus estimate of $1.25. Century Aluminum had a net margin of 1.65% and a return on equity of 5.57%. The firm had revenue of $633.70 million for the quarter, compared to the consensus estimate of $661.63 million. During the same quarter last year, the firm posted $0.49 EPS. The business’s quarterly revenue was up .4% on a year-over-year basis. On average, equities research analysts anticipate that Century Aluminum Company will post 2.76 EPS for the current year.

Insiders Place Their Bets

In other news, EVP John Dezee sold 66,000 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $50.72, for a total transaction of $3,347,520.00. Following the completion of the transaction, the executive vice president directly owned 97,647 shares in the company, valued at $4,952,655.84. The trade was a 40.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matt Aboud sold 12,126 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $52.50, for a total value of $636,615.00. Following the completion of the sale, the senior vice president directly owned 67,814 shares of the company’s stock, valued at $3,560,235. This represents a 15.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 401,626 shares of company stock valued at $20,847,911. Corporate insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Private Trust Co. NA acquired a new position in shares of Century Aluminum during the fourth quarter valued at about $28,000. Transamerica Financial Advisors LLC acquired a new stake in Century Aluminum during the fourth quarter worth about $40,000. Advisory Services Network LLC bought a new position in Century Aluminum during the third quarter valued at about $34,000. Smartleaf Asset Management LLC raised its holdings in Century Aluminum by 48.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,185 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 386 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in Century Aluminum by 68.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,218 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 497 shares in the last quarter. Institutional investors own 61.59% of the company’s stock.

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.