BMO Capital Markets Issues Positive Forecast for Century Aluminum (NASDAQ:CENX) Stock Price

Century Aluminum (NASDAQ:CENX) had its price target hoisted by research analysts at BMO Capital Markets from $16.00 to $18.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the industrial products company’s stock. BMO Capital Markets’ price target points to a potential downside of 18.11% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. B. Riley increased their price objective on Century Aluminum from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday. StockNews.com lowered shares of Century Aluminum from a “hold” rating to a “sell” rating in a research note on Friday, November 1st.

Century Aluminum Price Performance

Century Aluminum stock opened at $21.98 on Tuesday. The firm has a market capitalization of $2.04 billion, a P/E ratio of 7.35 and a beta of 2.47. The business has a 50-day moving average of $15.67 and a 200-day moving average of $16.21. The company has a current ratio of 1.72, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. Century Aluminum has a 1 year low of $6.25 and a 1 year high of $22.66.

Century Aluminum (NASDAQ:CENX) last posted its earnings results on Monday, November 4th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.31. The firm had revenue of $539.10 million during the quarter, compared to analysts’ expectations of $587.10 million. Century Aluminum had a negative return on equity of 0.04% and a net margin of 10.32%. During the same period in the previous year, the firm earned ($0.13) earnings per share. On average, equities analysts anticipate that Century Aluminum will post 0.07 EPS for the current year.

Hedge Funds Weigh In On Century Aluminum

Institutional investors and hedge funds have recently made changes to their positions in the company. MQS Management LLC raised its stake in Century Aluminum by 8.1% in the 2nd quarter. MQS Management LLC now owns 11,792 shares of the industrial products company’s stock worth $198,000 after purchasing an additional 883 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in Century Aluminum by 2.5% during the first quarter. Texas Permanent School Fund Corp now owns 45,288 shares of the industrial products company’s stock worth $697,000 after purchasing an additional 1,102 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Century Aluminum by 39.6% during the 3rd quarter. GAMMA Investing LLC now owns 4,347 shares of the industrial products company’s stock worth $71,000 after buying an additional 1,233 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Century Aluminum by 5.0% in the second quarter. The Manufacturers Life Insurance Company now owns 27,893 shares of the industrial products company’s stock worth $467,000 after acquiring an additional 1,335 shares during the last quarter. Finally, Quest Partners LLC boosted its position in Century Aluminum by 104.1% in the second quarter. Quest Partners LLC now owns 2,716 shares of the industrial products company’s stock valued at $45,000 after buying an additional 1,385 shares in the last quarter. Institutional investors and hedge funds own 61.59% of the company’s stock.

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.