Century Aluminum (NASDAQ:CENX) Shares Gap Up – Here’s What Happened

Shares of Century Aluminum Company (NASDAQ:CENX) gapped up before the market opened on Tuesday . The stock had previously closed at $51.88, but opened at $54.18. Century Aluminum shares last traded at $53.0370, with a volume of 208,499 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CENX. B. Riley Financial lowered their target price on Century Aluminum from $86.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. UBS Group assumed coverage on Century Aluminum in a report on Monday. They issued a “buy” rating and a $60.00 price target on the stock. Wells Fargo & Company boosted their price target on Century Aluminum from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Zacks Research cut Century Aluminum from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Finally, Wall Street Zen cut Century Aluminum from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Century Aluminum Price Performance

The stock’s 50-day moving average is $48.72 and its 200 day moving average is $53.99. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.75 and a quick ratio of 1.61. The company has a market cap of $4.77 billion, a PE ratio of 8.32 and a beta of 1.96.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.13. The business had revenue of $752.10 million for the quarter, compared to analyst estimates of $817.15 million. Century Aluminum had a net margin of 22.63% and a return on equity of 33.83%. Century Aluminum’s quarterly revenue was up 59.0% compared to the same quarter last year. On average, equities analysts anticipate that Century Aluminum Company will post 8.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CENX. Jones Financial Companies Lllp acquired a new stake in Century Aluminum in the first quarter worth about $25,000. Private Trust Co. NA purchased a new stake in shares of Century Aluminum during the fourth quarter worth about $28,000. Hollencrest Capital Management acquired a new position in shares of Century Aluminum during the first quarter valued at about $29,000. EverSource Wealth Advisors LLC increased its holdings in shares of Century Aluminum by 253.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 1,306 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Century Aluminum during the third quarter valued at about $34,000. 61.59% of the stock is 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.