Century Aluminum (NASDAQ:CENX) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Century Aluminum (NASDAQ:CENX) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Century Aluminum in a research report on Wednesday, January 21st. BMO Capital Markets increased their price objective on shares of Century Aluminum from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Wells Fargo & Company lifted their target price on shares of Century Aluminum from $46.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Finally, B. Riley Financial upped their target price on Century Aluminum from $37.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Century Aluminum has a consensus rating of “Buy” and an average target price of $53.00.

Century Aluminum Trading Up 2.7%

NASDAQ CENX opened at $50.22 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 0.79 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $44.00 and a 200 day simple moving average of $33.05. Century Aluminum has a 12 month low of $13.05 and a 12 month high of $55.59. The firm has a market capitalization of $4.69 billion, a P/E ratio of 59.08 and a beta of 2.24.

Insider Buying and Selling

In related news, CEO Jesse E. Gary sold 150,000 shares of Century Aluminum stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $48.19, for a total value of $7,228,500.00. Following the completion of the transaction, the chief executive officer directly owned 292,580 shares in the company, valued at approximately $14,099,430.20. The trade was a 33.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.76% of the stock is currently owned by company insiders.

Institutional Trading of Century Aluminum

Several institutional investors and hedge funds have recently bought and sold shares of the company. Beartown Capital Management LLC purchased a new stake in shares of Century Aluminum in the 4th quarter valued at about $1,959,000. Summit Global Investments purchased a new stake in Century Aluminum in the fourth quarter valued at approximately $299,000. State of Tennessee Department of Treasury raised its stake in Century Aluminum by 48.7% in the fourth quarter. State of Tennessee Department of Treasury now owns 18,772 shares of the industrial products company’s stock valued at $735,000 after purchasing an additional 6,152 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in Century Aluminum during the fourth quarter valued at approximately $227,000. Finally, Empowered Funds LLC purchased a new position in Century Aluminum in the 4th quarter worth approximately $1,628,000. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

About Century Aluminum

Century Aluminum Company is a primary aluminum producer that develops and operates smelters designed to supply low-carbon, high-purity aluminum products to a range of industrial and commercial markets. Established in 1995, the company has grown to become a significant North American aluminum producer with an expanding international footprint. Century Aluminum is headquartered in the United States and is focused on energy-efficient operations and cost management.

The company’s core operations include three primary aluminum smelting facilities located in Hawesville, Kentucky; Mount Holly, South Carolina; and Grundartangi, Iceland.