Century Aluminum (NASDAQ:CENX) Trading Up 6.9% – Here’s Why

Century Aluminum Company (NASDAQ:CENX)’s share price was up 6.9% during mid-day trading on Tuesday . The stock traded as high as $49.08 and last traded at $49.6640. Approximately 331,637 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 2,446,796 shares. The stock had previously closed at $46.48.

Analysts Set New Price Targets

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

Century Aluminum Stock Down 0.1%

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.97. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 125.48 and a beta of 2.17. The business’s 50 day moving average is $50.84 and its 200 day moving average is $38.41.

Century Aluminum (NASDAQ:CENX) last announced its earnings results on Thursday, February 19th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.25. The company had revenue of $633.70 million for the quarter, compared to the consensus estimate of $661.63 million. Century Aluminum had a net margin of 1.65% and a return on equity of 5.57%. The company’s revenue was up .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 EPS. Equities analysts expect that Century Aluminum Company will post 2.76 earnings per share for the current year.

Insiders Place Their Bets

In other Century Aluminum news, SVP Matt Aboud sold 2,971 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $52.67, for a total transaction of $156,482.57. Following the completion of the sale, the senior vice president directly owned 64,843 shares in the company, valued at approximately $3,415,280.81. This trade represents a 4.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Robert F. Hoffman sold 10,529 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $56.51, for a total value of $594,993.79. Following the completion of the transaction, the chief accounting officer owned 56,643 shares in the company, valued at $3,200,895.93. This represents a 15.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 401,626 shares of company stock valued at $20,847,911 in the last 90 days. Insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Century Aluminum

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its stake 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 valued at $724,000 after buying an additional 7,051 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of Century Aluminum during the first quarter worth $25,000. Empowered Funds LLC boosted its position in Century Aluminum by 1.8% during the first quarter. Empowered Funds LLC now owns 59,186 shares of the industrial products company’s stock valued at $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 boosted its position in Century Aluminum by 21.2% during the first 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 valued at $2,301,000 after purchasing an additional 21,702 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Century Aluminum by 12.9% in the second quarter. PNC Financial Services Group Inc. now owns 4,414 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 506 shares in the last quarter. Hedge funds and other 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.