StockNews.com Upgrades Century Aluminum (NASDAQ:CENX) to Hold

Century Aluminum (NASDAQ:CENX) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

Several other brokerages have also recently weighed in on CENX. BMO Capital Markets decreased their price target on shares of Century Aluminum from $17.00 to $15.00 and set a “market perform” rating for the company in a research note on Friday, August 9th. B. Riley decreased their target price on shares of Century Aluminum from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

Century Aluminum Price Performance

Shares of CENX opened at $16.82 on Tuesday. The stock has a market capitalization of $1.56 billion, a P/E ratio of 7.72 and a beta of 2.48. Century Aluminum has a twelve month low of $5.70 and a twelve month high of $21.37. The company has a 50 day moving average of $14.96 and a 200-day moving average of $16.15. The company has a quick ratio of 0.63, a current ratio of 1.72 and a debt-to-equity ratio of 0.77.

Century Aluminum (NASDAQ:CENX) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.05). The business had revenue of $560.80 million for the quarter, compared to the consensus estimate of $530.90 million. Century Aluminum had a negative return on equity of 0.04% and a net margin of 10.32%. As a group, equities research analysts forecast that Century Aluminum will post 0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Century Aluminum

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Century Aluminum by 0.7% in the first quarter. Vanguard Group Inc. now owns 5,819,805 shares of the industrial products company’s stock valued at $89,567,000 after buying an additional 39,900 shares in the last quarter. Encompass Capital Advisors LLC boosted its position in Century Aluminum by 1,208.7% during the second quarter. Encompass Capital Advisors LLC now owns 1,401,638 shares of the industrial products company’s stock worth $23,477,000 after purchasing an additional 1,294,538 shares during the period. American Century Companies Inc. increased its holdings in shares of Century Aluminum by 30.4% in the second quarter. American Century Companies Inc. now owns 1,186,243 shares of the industrial products company’s stock valued at $19,870,000 after purchasing an additional 276,304 shares during the last quarter. Castle Hook Partners LP raised its position in shares of Century Aluminum by 1,147.0% in the first quarter. Castle Hook Partners LP now owns 976,894 shares of the industrial products company’s stock valued at $15,034,000 after purchasing an additional 898,554 shares during the period. Finally, Impala Asset Management LLC lifted its stake in shares of Century Aluminum by 20.6% during the 2nd quarter. Impala Asset Management LLC now owns 850,000 shares of the industrial products company’s stock worth $14,238,000 after buying an additional 145,000 shares during the last quarter. 61.59% of the stock is owned by institutional investors.

Century Aluminum Company Profile

Century Aluminum Company, together with its subsidiaries, engages in the production of standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates an alumina production facility in Iceland, and a carbon anode production facility in the Netherlands.