Century Aluminum (NASDAQ:CENX) Shares Down 5.9% – What’s Next?

Century Aluminum (NASDAQ:CENX) fell 5.9% on Friday . The company traded as low as $22.31 and last traded at $22.50. 167,014 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 1,314,486 shares. The stock had previously closed at $23.92.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CENX. BMO Capital Markets increased their target price on Century Aluminum from $16.00 to $18.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Wolfe Research upgraded shares of Century Aluminum from a “peer perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a report on Tuesday. B. Riley upped their price objective on Century Aluminum from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, StockNews.com raised Century Aluminum from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th.

Century Aluminum Price Performance

The company has a current ratio of 1.71, a quick ratio of 0.56 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 7.53 and a beta of 2.50. The company’s 50 day moving average is $19.51 and its 200 day moving average is $17.03.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.31. The firm had revenue of $539.10 million for the quarter, compared to the consensus estimate of $587.10 million. Century Aluminum had a return on equity of 11.37% and a net margin of 14.60%. During the same quarter last year, the business posted ($0.13) EPS. Research analysts anticipate that Century Aluminum will post 0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Quest Partners LLC lifted its stake in shares of 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 purchasing an additional 1,385 shares during the period. 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 worth $71,000 after acquiring an additional 1,233 shares in the last quarter. Olympiad Research LP acquired a new stake in Century Aluminum in the third quarter valued at $180,000. Dynamic Technology Lab Private Ltd acquired a new stake in Century Aluminum in the 3rd quarter valued at about $189,000. Finally, MQS Management LLC lifted its holdings in shares of Century Aluminum by 8.1% in the second quarter. MQS Management LLC now owns 11,792 shares of the industrial products company’s stock valued at $198,000 after purchasing an additional 883 shares in the last quarter. Hedge funds and other institutional investors own 61.59% of the company’s stock.

About Century Aluminum

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.