Cibc World Market Inc. Invests $6.08 Million in Century Aluminum Company $CENX

Cibc World Market Inc. acquired a new stake in Century Aluminum Company (NASDAQ:CENX) during the second quarter, HoldingsChannel reports. The firm acquired 132,202 shares of the industrial products company’s stock, valued at approximately $6,083,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CENX. Jones Financial Companies Lllp acquired a new stake in Century Aluminum during the first quarter worth approximately $25,000. Hollencrest Capital Management acquired a new position in Century Aluminum in the first quarter valued at $29,000. EverSource Wealth Advisors LLC grew its holdings in shares of Century Aluminum by 253.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 1,306 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Century Aluminum during the third quarter worth about $34,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Century Aluminum during the second quarter worth about $37,000. 61.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CENX. B. Riley Financial reissued a “buy” rating on shares of Century Aluminum in a research report on Tuesday, August 18th. Wall Street Zen downgraded Century Aluminum from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Weiss Ratings lowered shares of Century Aluminum from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 21st. UBS Group started coverage on shares of Century Aluminum in a report on Monday, August 10th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Zacks Research downgraded shares of Century Aluminum from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $72.00.

Century Aluminum Stock Performance

Shares of CENX stock opened at $44.20 on Wednesday. The stock’s 50-day moving average price is $46.01 and its 200 day moving average price is $53.81. The company has a quick ratio of 1.61, a current ratio of 2.75 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $4.38 billion, a PE ratio of 7.63 and a beta of 1.96. Century Aluminum Company has a 52-week low of $20.91 and a 52-week high of $70.43.

Century Aluminum (NASDAQ:CENX) last posted its quarterly earnings data on Thursday, August 6th. The industrial products company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.13. Century Aluminum had a return on equity of 33.83% and a net margin of 22.63%.The company had revenue of $752.10 million during the quarter, compared to analysts’ expectations of $817.15 million. The firm’s revenue was up 59.0% compared to the same quarter last year. As a group, equities research analysts forecast that Century Aluminum Company will post 8.34 EPS for the current year.

Century Aluminum 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.