Century Aluminum Company (NASDAQ:CENX) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shares of Century Aluminum Company (NASDAQ:CENX) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $61.00.

Several equities research analysts recently weighed in on the company. Barclays assumed coverage on Century Aluminum in a report on Wednesday, October 14th. They issued an “equal weight” rating and a $40.00 price objective for the company. Wall Street Zen downgraded shares of Century Aluminum from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 20th. Wells Fargo & Company cut their price target on shares of Century Aluminum from $79.00 to $71.00 and set an “overweight” rating for the company in a report on Friday. Zacks Research upgraded shares of Century Aluminum from a “strong sell” rating to a “hold” rating in a research note on Monday, October 19th. Finally, B. Riley Financial cut their target price on shares of Century Aluminum from $72.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday.

Century Aluminum Trading Up 11.3%

NASDAQ CENX opened at $33.47 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.61 and a current ratio of 2.75. The company’s 50 day moving average price is $37.87 and its 200 day moving average price is $49.41. Century Aluminum has a one year low of $25.40 and a one year high of $70.43. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 3.92 and a beta of 2.17.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings results on Thursday, November 5th. The industrial products company reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). Century Aluminum had a net margin of 22.63% and a return on equity of 33.83%. The firm had revenue of $961.20 million during the quarter, compared to the consensus estimate of $951.71 million. During the same period in the prior year, the business earned $0.56 EPS. The company’s revenue for the quarter was up 52.0% compared to the same quarter last year. On average, sell-side analysts predict that Century Aluminum will post 7.64 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CENX. Cetera Investment Advisers boosted its position in shares of Century Aluminum by 510.6% during the first quarter. Cetera Investment Advisers now owns 43,612 shares of the industrial products company’s stock valued at $2,560,000 after buying an additional 36,469 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in Century Aluminum during the 2nd quarter valued at $2,114,000. Steamboat Capital Partners LLC lifted its holdings in Century Aluminum by 7.4% in the second quarter. Steamboat Capital Partners LLC now owns 296,666 shares of the industrial products company’s stock valued at $13,650,000 after acquiring an additional 20,418 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Century Aluminum during the second quarter worth about $2,140,000. Finally, Wellington Management Group LLP grew its holdings in shares of Century Aluminum by 45.0% during the second quarter. Wellington Management Group LLP now owns 548,898 shares of the industrial products company’s stock worth $25,255,000 after purchasing an additional 170,451 shares during the last quarter. 61.59% of the stock is currently owned by institutional investors.

Key Century Aluminum News

Here are the key news stories impacting Century Aluminum this week:

• Positive Sentiment: Shipments rose about 33% sequentially to 173,483 tonnes, aided by the restart of the company’s Iceland smelter. Revenue increased 52% year over year to $961.2 million, while reported diluted EPS was $2.89, up from $0.56 a year earlier. Century Aluminum Q3 results
• Positive Sentiment: Quarterly revenue exceeded analyst estimates, and the production recovery could support further sales growth if operating conditions remain favorable. Iceland smelter restart and Q3 performance
• Neutral Sentiment: Wells Fargo lowered its price target from $79 to $71 but kept an Overweight rating, indicating continued optimism despite a more cautious valuation. Wells Fargo rating and target
• Negative Sentiment: Adjusted EPS was $2.58, below the cited analyst consensus of $2.67. Reports attributed pressure to power and operating costs, tempering the strong shipment and revenue figures. Q3 results and cost pressures

Century Aluminum Company Profile

Century Aluminum Company is a producer of primary aluminum. The company operates aluminum smelters that convert alumina into aluminum metal, supplying standard-grade and value-added products used in transportation, construction, packaging, aerospace, and other industrial applications.

Century Aluminum’s operations are located in the United States and Iceland. Its U.S. facilities include the Sebree smelter in Kentucky and the Mt. Holly smelter in South Carolina, while its Icelandic operations are based at the Grundartangi aluminum smelter.