Century Aluminum (NASDAQ:CENX) Shares Up 13.6% – Here’s Why

Century Aluminum Company (NASDAQ:CENX) shares rose 13.6% during mid-day trading on Friday . The stock traded as high as $52.65 and last traded at $52.2130. Approximately 1,169,686 shares traded hands during trading, a decline of 46% from the average session volume of 2,166,267 shares. The stock had previously closed at $45.95.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CENX. Zacks Research cut Century Aluminum from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. Wall Street Zen cut shares of Century Aluminum from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. B. Riley Financial lowered their price objective on shares of Century Aluminum from $86.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Wells Fargo & Company lifted 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. Finally, Weiss Ratings downgraded shares of Century Aluminum from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $76.00.

Century Aluminum Stock Performance

The stock’s 50-day simple moving average is $49.96 and its 200 day simple moving average is $53.91. The company has a market capitalization of $5.19 billion, a PE ratio of 15.62 and a beta of 1.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.36 and a current ratio of 2.30.

Hedge Funds Weigh In On Century Aluminum

Several large investors have recently bought and sold shares of CENX. AQR Capital Management LLC lifted its holdings in 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 buying an additional 7,051 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake 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 acquiring an additional 1,069 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake 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 worth $2,301,000 after purchasing an additional 21,702 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Century Aluminum by 7.1% in the second quarter. JPMorgan Chase & Co. now owns 147,046 shares of the industrial products company’s stock valued at $2,650,000 after purchasing an additional 9,721 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.