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

Century Aluminum (NASDAQ:CENX) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

CENX has been the topic of several other reports. B. Riley upped their price target on shares of Century Aluminum from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. BMO Capital Markets lifted their price objective on Century Aluminum from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of Century Aluminum in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company raised their target price on Century Aluminum from $37.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, December 23rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $36.00.

Century Aluminum Stock Down 3.7%

Century Aluminum stock opened at $42.23 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.71 and a quick ratio of 0.79. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 49.68 and a beta of 2.26. Century Aluminum has a 1-year low of $13.05 and a 1-year high of $45.58. The business has a fifty day moving average price of $32.38 and a 200-day moving average price of $27.00.

Century Aluminum (NASDAQ:CENX) last released its earnings results on Thursday, November 6th. The industrial products company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.23). The company had revenue of $632.20 million for the quarter, compared to analysts’ expectations of $629.85 million. Century Aluminum had a return on equity of 12.83% and a net margin of 3.47%.The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. Equities research analysts forecast that Century Aluminum will post 2.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Century Aluminum

Hedge funds and other institutional investors have recently modified their holdings of the business. Boston Partners increased its stake in Century Aluminum by 340.1% during the second quarter. Boston Partners now owns 1,733,668 shares of the industrial products company’s stock worth $31,248,000 after acquiring an additional 1,339,744 shares during the last quarter. Sourcerock Group LLC lifted its stake in shares of Century Aluminum by 612.0% in the 2nd quarter. Sourcerock Group LLC now owns 1,424,088 shares of the industrial products company’s stock valued at $25,662,000 after purchasing an additional 1,224,088 shares during the last quarter. Woodline Partners LP purchased a new position in shares of Century Aluminum during the 1st quarter worth $19,317,000. American Century Companies Inc. increased its position in shares of Century Aluminum by 392.3% during the 3rd quarter. American Century Companies Inc. now owns 767,692 shares of the industrial products company’s stock worth $22,539,000 after purchasing an additional 611,758 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Century Aluminum during the 2nd quarter worth about $9,399,000. 61.59% of the stock is owned by hedge funds and other institutional investors.

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.