BidaskClub Lowers Century Aluminum (NASDAQ:CENX) to Hold

BidaskClub lowered shares of Century Aluminum (NASDAQ:CENX) from a buy rating to a hold rating in a report issued on Wednesday, January 10th.

CENX has been the topic of several other reports. Cowen set a $17.00 price objective on Century Aluminum and gave the stock a hold rating in a research note on Wednesday, October 11th. Zacks Investment Research cut Century Aluminum from a hold rating to a strong sell rating in a research note on Tuesday, November 14th. Deutsche Bank lowered Century Aluminum from a buy rating to a hold rating and dropped their target price for the company from $20.00 to $14.00 in a research report on Wednesday, December 20th. JPMorgan Chase & Co. lowered Century Aluminum from an overweight rating to a neutral rating and dropped their target price for the company from $22.00 to $14.50 in a research report on Monday, October 30th. Finally, BMO Capital Markets set a $16.00 target price on Century Aluminum and gave the company a hold rating in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Century Aluminum currently has a consensus rating of Hold and an average target price of $15.90.

Century Aluminum (CENX) opened at $21.15 on Wednesday. The company has a current ratio of 2.61, a quick ratio of 1.27 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1,898.49, a price-to-earnings ratio of -11.69 and a beta of 0.41. Century Aluminum has a 52-week low of $11.26 and a 52-week high of $22.30.

Century Aluminum (NASDAQ:CENX) last posted its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.08). Century Aluminum had a negative net margin of 10.45% and a negative return on equity of 0.17%. The business had revenue of $388.80 million for the quarter, compared to the consensus estimate of $392.28 million. During the same period in the prior year, the business earned ($0.31) earnings per share. Century Aluminum’s revenue was up 16.5% compared to the same quarter last year. equities analysts anticipate that Century Aluminum will post 0.35 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. IndexIQ Advisors LLC increased its position in shares of Century Aluminum by 752.8% during the third quarter. IndexIQ Advisors LLC now owns 10,293 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 9,086 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of Century Aluminum in the 2nd quarter valued at $160,000. Piedmont Investment Advisors LLC acquired a new position in shares of Century Aluminum in the 2nd quarter valued at $168,000. ARP Americas LLC acquired a new position in shares of Century Aluminum in the 3rd quarter valued at $202,000. Finally, UBS Asset Management Americas Inc. increased its position in shares of Century Aluminum by 15.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 16,400 shares of the industrial products company’s stock valued at $256,000 after acquiring an additional 2,200 shares during the period. 67.98% of the stock is currently owned by institutional investors and hedge funds.

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About Century Aluminum

Century Aluminum Company (Century) is a holding company, which is a producer of primary aluminum and operates aluminum reduction facilities, or smelters, in the United States and Iceland. The Company operates through primary aluminum segment. The Company’s primary aluminum facilities produce standard grade primary aluminum products.

Analyst Recommendations for Century Aluminum (NASDAQ:CENX)

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