Century Aluminum (NASDAQ:CENX) Sets New 52-Week High – Here’s Why

Shares of Century Aluminum Company (NASDAQ:CENX) reached a new 52-week high on Wednesday . The stock traded as high as $56.46 and last traded at $54.31, with a volume of 547735 shares trading hands. The stock had previously closed at $52.92.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. B. Riley Financial lifted their price target on shares of Century Aluminum from $64.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Weiss Ratings restated a “hold (c)” rating on shares of Century Aluminum in a research note on Wednesday, January 21st. Zacks Research upgraded Century Aluminum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 17th. Wall Street Zen upgraded shares of Century Aluminum from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, BMO Capital Markets lifted their price objective on shares of Century Aluminum from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $54.33.

Century Aluminum Stock Performance

The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 134.75 and a beta of 2.17. The company’s 50 day simple moving average is $47.88 and its 200 day simple moving average is $35.27. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.97.

Century Aluminum (NASDAQ:CENX) last posted its quarterly earnings data on Thursday, February 19th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.25. Century Aluminum had a net margin of 1.65% and a return on equity of 5.57%. The business had revenue of $633.70 million during the quarter, compared to analysts’ expectations of $661.63 million. During the same period last year, the firm posted $0.49 earnings per share. The business’s revenue was up .4% on a year-over-year basis. On average, equities research analysts anticipate that Century Aluminum Company will post 2.76 earnings per share for the current year.

Insider Activity

In related news, SVP Matt Aboud sold 12,126 shares of Century Aluminum stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $52.50, for a total transaction of $636,615.00. Following the transaction, the senior vice president directly owned 67,814 shares of the company’s stock, valued at $3,560,235. The trade was a 15.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jesse E. Gary sold 150,000 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $48.19, for a total transaction of $7,228,500.00. Following the completion of the sale, the chief executive officer owned 292,580 shares in the company, valued at approximately $14,099,430.20. This trade represents a 33.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 231,097 shares of company stock worth $11,369,118. 0.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Century Aluminum

Large investors have recently made changes to their positions in the business. Jones Financial Companies Lllp bought a new stake in shares of Century Aluminum in the 1st quarter worth approximately $25,000. Private Trust Co. NA acquired a new position in Century Aluminum in the fourth quarter worth approximately $28,000. EverSource Wealth Advisors LLC increased its holdings in shares of Century Aluminum by 253.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock valued at $33,000 after buying an additional 1,306 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Century Aluminum in the third quarter valued at $34,000. Finally, Transamerica Financial Advisors LLC acquired a new stake in shares of Century Aluminum during the 4th quarter valued at $40,000. Institutional investors own 61.59% of the company’s stock.

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.