Century Aluminum (NASDAQ:CENX) Given New $64.00 Price Target at B. Riley

Century Aluminum (NASDAQ:CENX) had its price target lifted by research analysts at B. Riley from $37.00 to $64.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. B. Riley’s target price would indicate a potential upside of 35.25% from the company’s previous close.

Several other research firms have also issued reports on CENX. Weiss Ratings reissued a “hold (c)” rating on shares of Century Aluminum in a research report on Wednesday, January 21st. Zacks Research lowered Century Aluminum from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Wells Fargo & Company increased their target price on Century Aluminum from $46.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Finally, BMO Capital Markets raised their target price on Century Aluminum from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Century Aluminum Stock Up 4.4%

Shares of CENX stock opened at $47.32 on Tuesday. Century Aluminum has a one year low of $13.05 and a one year high of $52.00. 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 fifty day moving average price of $39.24 and a 200 day moving average price of $30.77. The stock has a market cap of $4.42 billion, a P/E ratio of 55.67 and a beta of 2.26.

Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings results on Thursday, November 6th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.23). The business had revenue of $632.20 million during the quarter, compared to the consensus estimate of $629.85 million. Century Aluminum had a net margin of 3.47% and a return on equity of 12.83%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. Analysts predict that Century Aluminum will post 2.76 earnings per share for the current year.

Insider Transactions at Century Aluminum

In other Century Aluminum news, CEO Jesse E. Gary sold 150,000 shares of the business’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $48.19, for a total value of $7,228,500.00. Following the transaction, the chief executive officer owned 292,580 shares of the company’s stock, valued at approximately $14,099,430.20. The trade was a 33.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.76% of the company’s stock.

Institutional Trading of Century Aluminum

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC lifted its holdings in Century Aluminum by 26.3% in the third quarter. CWM LLC now owns 1,592 shares of the industrial products company’s stock valued at $47,000 after buying an additional 332 shares during the period. Arizona State Retirement System lifted its stake in shares of Century Aluminum by 2.5% in the 3rd quarter. Arizona State Retirement System now owns 16,562 shares of the industrial products company’s stock valued at $486,000 after purchasing an additional 411 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Century Aluminum by 1.5% in the 4th quarter. State of Alaska Department of Revenue now owns 30,604 shares of the industrial products company’s stock worth $1,198,000 after purchasing an additional 441 shares during the last quarter. Algert Global LLC boosted its position in shares of Century Aluminum by 0.8% in the 3rd quarter. Algert Global LLC now owns 53,943 shares of the industrial products company’s stock worth $1,584,000 after purchasing an additional 450 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Century Aluminum by 12.9% during the second quarter. PNC Financial Services Group Inc. now owns 4,414 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 506 shares during the period. 61.59% of the stock is currently owned by institutional investors and hedge funds.

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.