Century Aluminum (NASDAQ:CENX) Hits New 52-Week High Following Analyst Upgrade

Century Aluminum (NASDAQ:CENX) hit a new 52-week high during mid-day trading on Wednesday after BMO Capital Markets raised their price target on the stock from $16.00 to $18.00. BMO Capital Markets currently has a market perform rating on the stock. Century Aluminum traded as high as $22.29 and last traded at $22.29, with a volume of 805694 shares changing hands. The stock had previously closed at $21.05.

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

Institutional Trading of Century Aluminum

Several large investors have recently modified their holdings of CENX. Covestor Ltd boosted its holdings in Century Aluminum by 13,746.2% in the first quarter. Covestor Ltd now owns 1,800 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 1,787 shares during the last quarter. Quest Partners LLC raised its position in shares of Century Aluminum by 104.1% in the 2nd quarter. Quest Partners LLC now owns 2,716 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 1,385 shares in the last quarter. GAMMA Investing LLC boosted its stake 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 valued at $71,000 after buying an additional 1,233 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Century Aluminum by 7,779.8% during the first quarter. Russell Investments Group Ltd. now owns 7,013 shares of the industrial products company’s stock worth $108,000 after buying an additional 6,924 shares in the last quarter. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Century Aluminum in the first quarter worth $161,000. 61.59% of the stock is currently owned by institutional investors and hedge funds.

Century Aluminum Trading Up 0.5 %

The company has a quick ratio of 0.63, a current ratio of 1.72 and a debt-to-equity ratio of 0.77. The firm has a market cap of $2.05 billion, a P/E ratio of 7.39 and a beta of 2.47. The business’s 50 day moving average is $15.97 and its 200-day moving average is $16.29.

Century Aluminum (NASDAQ:CENX) last issued 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. Century Aluminum had a net margin of 14.60% and a return on equity of 12.07%. The business had revenue of $539.10 million for the quarter, compared to analyst estimates of $587.10 million. During the same quarter in the prior year, the business posted ($0.13) EPS. As a group, analysts forecast that Century Aluminum will post 0.07 earnings per share for the current fiscal year.

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.