B. Riley Financial Issues Pessimistic Forecast for Century Aluminum (NASDAQ:CENX) Stock Price

Century Aluminum (NASDAQ:CENX) had its target price cut by research analysts at B. Riley Financial from $72.00 to $64.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. B. Riley Financial‘s target price indicates a potential upside of 91.32% from the company’s previous close.

Several other brokerages also recently issued reports on CENX. Barclays started coverage on shares of Century Aluminum in a research report on Wednesday, October 14th. They set an “equal weight” rating and a $40.00 price objective for the company. UBS Group reduced their target price on shares of Century Aluminum from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Century Aluminum in a report on Monday, October 19th. Zacks Research raised shares of Century Aluminum from a “strong sell” rating to a “hold” rating in a research report on Monday, October 19th. Finally, Wells Fargo & Company reduced their price objective on shares of Century Aluminum from $83.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, September 18th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.60.

Century Aluminum Stock Down 0.2%

Shares of CENX traded down $0.08 on Tuesday, hitting $33.45. The company’s stock had a trading volume of 164,575 shares, compared to its average volume of 2,112,214. 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 firm’s fifty day moving average price is $38.83 and its 200-day moving average price is $49.72. Century Aluminum has a fifty-two week low of $25.40 and a fifty-two week high of $70.43. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 5.79 and a beta of 2.07.

Century Aluminum (NASDAQ:CENX) last posted its earnings results on Thursday, August 6th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.13. The business had revenue of $752.10 million during the quarter, compared to analysts’ expectations of $817.15 million. Century Aluminum had a return on equity of 33.83% and a net margin of 22.63%. Century Aluminum’s revenue was up 59.0% on a year-over-year basis. On average, equities research analysts expect that Century Aluminum will post 7.75 EPS for the current year.

Institutional Trading of Century Aluminum

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Century Aluminum during the 2nd quarter worth about $474,129,000. Encompass Capital Advisors LLC lifted its stake in Century Aluminum by 210.4% in the 1st quarter. Encompass Capital Advisors LLC now owns 1,551,362 shares of the industrial products company’s stock valued at $91,049,000 after purchasing an additional 1,051,525 shares during the last quarter. Kinetic Partners Management LP acquired a new stake in Century Aluminum in the 2nd quarter valued at about $35,736,000. Bank of America Corp DE bought a new position in Century Aluminum during the second quarter worth about $27,709,000. Finally, Jefferies Financial Group Inc. bought a new position in Century Aluminum during the second quarter worth about $22,369,000. Institutional investors and hedge funds own 61.59% of the company’s stock.

About Century Aluminum

Century Aluminum Company is a producer of primary aluminum. The company operates aluminum smelters that convert alumina into aluminum metal, supplying standard-grade and value-added products used in transportation, construction, packaging, aerospace, and other industrial applications.

Century Aluminum’s operations are located in the United States and Iceland. Its U.S. facilities include the Sebree smelter in Kentucky and the Mt. Holly smelter in South Carolina, while its Icelandic operations are based at the Grundartangi aluminum smelter.