Century Aluminum (NASDAQ:CENX) Stock Price Up 11.5% – Time to Buy?

Century Aluminum Company (NASDAQ:CENX)’s share price rose 11.5% on Tuesday . The company traded as high as $58.74 and last traded at $59.3980. Approximately 678,597 shares changed hands during trading, a decline of 72% from the average daily volume of 2,433,730 shares. The stock had previously closed at $53.25.

Wall Street Analyst Weigh In

CENX has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on Century Aluminum from $61.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Zacks Research raised Century Aluminum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. Wall Street Zen upgraded Century Aluminum from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. B. Riley Financial boosted 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. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Century Aluminum in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $57.00.

Century Aluminum Trading Up 11.5%

The firm has a market capitalization of $5.88 billion, a P/E ratio of 148.35 and a beta of 2.16. The business’s 50 day moving average is $50.99 and its two-hundred day moving average is $39.11. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 0.52.

Century Aluminum (NASDAQ:CENX) last announced its earnings results on Thursday, February 19th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.25. Century Aluminum had a net margin of 1.65% and a return on equity of 5.57%. The firm had revenue of $633.70 million during the quarter, compared to analyst estimates of $661.63 million. During the same quarter in the prior year, the firm posted $0.49 EPS. Century Aluminum’s revenue was up .4% compared to the same quarter last year. Analysts expect that Century Aluminum Company will post 2.76 EPS for the current year.

Insider Buying and Selling at Century Aluminum

In other Century Aluminum news, EVP John Dezee sold 66,000 shares of Century Aluminum stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $50.72, for a total value of $3,347,520.00. Following the transaction, the executive vice president owned 97,647 shares in the company, valued at approximately $4,952,655.84. The trade was a 40.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Matt Aboud sold 12,126 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $52.50, for a total value of $636,615.00. Following the completion of the transaction, the senior vice president directly owned 67,814 shares in the company, valued at $3,560,235. This represents a 15.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 401,626 shares of company stock worth $20,847,911. 0.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Century Aluminum

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp purchased a new stake in shares of Century Aluminum in the first quarter worth approximately $25,000. Private Trust Co. NA acquired a new position in Century Aluminum in the 4th quarter valued at approximately $28,000. EverSource Wealth Advisors LLC lifted its position in Century Aluminum by 253.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock worth $33,000 after buying an additional 1,306 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Century Aluminum during the 3rd quarter valued at $34,000. Finally, Transamerica Financial Advisors LLC purchased a new position in shares of Century Aluminum during the 4th quarter valued at $40,000. 61.59% of the stock is owned by institutional investors and hedge funds.

About Century Aluminum

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.