Zacks Investment Research lowered shares of Century Aluminum (NASDAQ:CENX) from a hold rating to a sell rating in a research note published on Tuesday morning.

According to Zacks, “Quarterly earnings estimate of Century Aluminum have been going down of late. The company faces a difficult pricing environment and is seeing high costs for certain key raw materials. Century Aluminum also has to pay a high price for power for the Mt. Holly smelter. Moreover, high levels of production from China is still hurting the aluminum industry. The company has a negative record of earnings suprises in the last few quarters. “

A number of other brokerages also recently issued reports on CENX. BidaskClub upgraded shares of Century Aluminum from a hold rating to a buy rating in a research note on Wednesday, January 3rd. Deutsche Bank downgraded shares of Century Aluminum from a buy rating to a hold rating and reduced their price objective for the stock from $20.00 to $14.00 in a research note on Wednesday, December 20th. Cowen set a $17.00 price objective on shares of Century Aluminum and gave the stock a hold rating in a research note on Wednesday, October 11th. BMO Capital Markets set a $16.00 price objective on shares of Century Aluminum and gave the stock a hold rating in a research note on Friday, October 27th. Finally, JPMorgan Chase & Co. downgraded shares of Century Aluminum from an overweight rating to a neutral rating and reduced their price objective for the stock from $22.00 to $14.50 in a research note on Monday, October 30th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $15.90.

Shares of Century Aluminum (NASDAQ CENX) traded up $1.03 during trading on Tuesday, reaching $20.61. 2,951,600 shares of the company’s stock were exchanged, compared to its average volume of 2,320,000. The firm has a market capitalization of $1,800.00, a P/E ratio of -11.51 and a beta of 0.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.61 and a quick ratio of 1.27. Century Aluminum has a 12-month low of $8.56 and a 12-month high of $21.78.

Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.08). The firm had revenue of $388.80 million for the quarter, compared to analyst estimates of $392.28 million. Century Aluminum had a negative return on equity of 0.17% and a negative net margin of 10.45%. The company’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.31) earnings per share. research analysts forecast that Century Aluminum will post 0.35 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of CENX. Balyasny Asset Management LLC lifted its holdings in shares of Century Aluminum by 742.8% in the second quarter. Balyasny Asset Management LLC now owns 3,027,819 shares of the industrial products company’s stock worth $47,173,000 after acquiring an additional 2,668,550 shares during the last quarter. ING Groep NV lifted its holdings in shares of Century Aluminum by 760.7% in the third quarter. ING Groep NV now owns 2,443,639 shares of the industrial products company’s stock worth $40,516,000 after acquiring an additional 2,159,729 shares during the last quarter. Impala Asset Management LLC lifted its holdings in shares of Century Aluminum by 63.2% in the second quarter. Impala Asset Management LLC now owns 2,797,458 shares of the industrial products company’s stock worth $43,584,000 after acquiring an additional 1,083,314 shares during the last quarter. Amerigo Asset Management bought a new position in shares of Century Aluminum in the third quarter worth about $13,496,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Century Aluminum by 35.4% in the second quarter. JPMorgan Chase & Co. now owns 2,179,380 shares of the industrial products company’s stock worth $33,955,000 after acquiring an additional 569,285 shares during the last quarter. 67.98% of the stock is owned by hedge funds and other institutional investors.

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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.

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