Century Aluminum (NASDAQ:CENX) Lowered to “Sell” Rating by StockNews.com

Century Aluminum (NASDAQ:CENX) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Several other equities analysts also recently commented on the company. B. Riley lowered their price target on Century Aluminum from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 9th. BMO Capital Markets decreased their price target on Century Aluminum from $17.00 to $15.00 and set a “market perform” rating on the stock in a research note on Friday, August 9th.

Century Aluminum Price Performance

Shares of CENX traded down $0.43 during trading hours on Friday, hitting $17.22. 1,023,673 shares of the company were exchanged, compared to its average volume of 1,321,068. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.72 and a quick ratio of 0.63. The company has a market capitalization of $1.60 billion, a PE ratio of 8.28 and a beta of 2.48. The firm has a fifty day simple moving average of $15.51 and a 200-day simple moving average of $16.20. Century Aluminum has a one year low of $6.25 and a one year high of $21.37.

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

Institutional Trading of Century Aluminum

Institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in shares of Century Aluminum by 17.0% in the third quarter. Principal Financial Group Inc. now owns 301,992 shares of the industrial products company’s stock valued at $4,901,000 after purchasing an additional 43,881 shares in the last quarter. Olympiad Research LP acquired a new position in Century Aluminum during the third quarter valued at approximately $180,000. Congress Asset Management Co. boosted its holdings in shares of Century Aluminum by 1.3% in the 3rd quarter. Congress Asset Management Co. now owns 204,302 shares of the industrial products company’s stock valued at $3,316,000 after buying an additional 2,700 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Century Aluminum by 16.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 621,300 shares of the industrial products company’s stock valued at $10,084,000 after acquiring an additional 89,621 shares during the period. Finally, Jade Capital Advisors LLC acquired a new position in Century Aluminum during the third quarter worth approximately $406,000. 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.