Century Aluminum (NASDAQ:CENX) Trading Down 7.7% – Here’s Why

Century Aluminum Company (NASDAQ:CENX) shares traded down 7.7% on Monday . The company traded as low as $56.12 and last traded at $56.5030. 354,071 shares changed hands during trading, a decline of 83% from the average session volume of 2,116,671 shares. The stock had previously closed at $61.19.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings raised shares of Century Aluminum from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. Zacks Research lowered shares of Century Aluminum from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. BMO Capital Markets set a $75.00 price objective on shares of Century Aluminum and gave the company an “outperform” rating in a report on Thursday, April 9th. B. Riley Financial boosted their price objective on shares of Century Aluminum from $68.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Century Aluminum from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $80.00.

Century Aluminum Stock Down 11.8%

The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of 16.12 and a beta of 1.90. The business’s 50-day moving average is $62.70 and its 200-day moving average is $51.36. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.37.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. AQR Capital Management LLC raised its position in shares of Century Aluminum by 22.1% during the 1st 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 last quarter. Jones Financial Companies Lllp acquired a new position in shares of Century Aluminum during the 1st quarter worth about $25,000. Empowered Funds LLC raised its position in shares of 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 purchasing an additional 1,069 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Century Aluminum by 21.2% during the 1st 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 worth $2,301,000 after purchasing an additional 21,702 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Century Aluminum by 7.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 147,046 shares of the industrial products company’s stock valued at $2,650,000 after acquiring an additional 9,721 shares in the last quarter. Institutional investors and hedge funds 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.