Century Aluminum (NASDAQ:CENX) Shares Gap Down – Should You Sell?

Century Aluminum Company (NASDAQ:CENX)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $55.34, but opened at $50.52. Century Aluminum shares last traded at $50.5890, with a volume of 1,320,936 shares.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. B. Riley Financial lifted their target price on Century Aluminum from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Wells Fargo & Company increased their price target on Century Aluminum from $61.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Weiss Ratings restated a “hold (c)” rating on shares of Century Aluminum in a research note on Wednesday, January 21st. Wall Street Zen upgraded Century Aluminum from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Zacks Research raised Century Aluminum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $57.00.

Century Aluminum Stock Down 1.4%

The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 0.52. The stock has a market cap of $4.85 billion, a P/E ratio of 122.43 and a beta of 2.17. The firm has a 50-day simple moving average of $50.72 and a two-hundred day simple moving average of $37.73.

Century Aluminum (NASDAQ:CENX) last announced its earnings results on Thursday, February 19th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.25. Century Aluminum had a net margin of 1.65% and a return on equity of 5.57%. The company had revenue of $633.70 million during the quarter, compared to analysts’ expectations of $661.63 million. During the same quarter in the previous year, the business posted $0.49 earnings per share. Century Aluminum’s quarterly revenue was up .4% on a year-over-year basis. Equities research analysts expect that Century Aluminum Company will post 2.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Century Aluminum

In related news, CEO Jesse E. Gary sold 150,000 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $55.47, for a total transaction of $8,320,500.00. Following the sale, the chief executive officer owned 142,580 shares of the company’s stock, valued at $7,908,912.60. This represents a 51.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Matt Aboud sold 12,126 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $52.50, for a total value of $636,615.00. Following the transaction, the senior vice president owned 67,814 shares in the company, valued at approximately $3,560,235. This trade represents a 15.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 401,626 shares of company stock worth $20,847,911. 0.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp bought a new stake in Century Aluminum during the first quarter worth about $25,000. Private Trust Co. NA bought a new position in Century Aluminum in the 4th quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its position in shares of Century Aluminum by 253.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock valued at $33,000 after buying an additional 1,306 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Century Aluminum during the 3rd quarter worth approximately $34,000. Finally, Transamerica Financial Advisors LLC bought a new stake in shares of Century Aluminum during the 4th quarter worth approximately $40,000. Institutional investors own 61.59% of the company’s stock.

Century Aluminum Company Profile

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.