Century Aluminum (NASDAQ:CENX) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of Century Aluminum (NASDAQ:CENX) from a buy rating to a strong-buy rating in a report issued on Saturday,Wall Street Zen reports.

A number of other research analysts also recently issued reports on the stock. Weiss Ratings downgraded shares of Century Aluminum from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 21st. Zacks Research downgraded shares of Century Aluminum from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. B. Riley Financial reiterated a “buy” rating on shares of Century Aluminum in a research note on Tuesday, August 18th. Finally, UBS Group began coverage on Century Aluminum in a research note on Monday, August 10th. They issued a “buy” rating and a $60.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Century Aluminum Stock Performance

Shares of CENX opened at $44.05 on Friday. The business’s 50 day moving average is $45.75 and its two-hundred day moving average is $53.41. Century Aluminum has a 52-week low of $24.58 and a 52-week high of $70.43. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 7.61 and a beta of 1.99. The company has a quick ratio of 1.61, a current ratio of 2.75 and a debt-to-equity ratio of 0.31.

Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.13. The company had revenue of $752.10 million during 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%. The firm’s quarterly revenue was up 59.0% on a year-over-year basis. Analysts forecast that Century Aluminum will post 7.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Century Aluminum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC raised its stake in Century Aluminum by 10.6% during the 2nd quarter. Tidal Investments LLC now owns 10,868 shares of the industrial products company’s stock valued at $500,000 after acquiring an additional 1,040 shares in the last quarter. Steamboat Capital Partners LLC increased its holdings in shares of Century Aluminum by 7.4% during the second quarter. Steamboat Capital Partners LLC now owns 296,666 shares of the industrial products company’s stock valued at $13,650,000 after purchasing an additional 20,418 shares during the period. Squarepoint Ops LLC increased its holdings in shares of Century Aluminum by 65.6% during the second quarter. Squarepoint Ops LLC now owns 679,205 shares of the industrial products company’s stock valued at $31,250,000 after purchasing an additional 269,112 shares during the period. Arizona State Retirement System raised its stake in shares of Century Aluminum by 19.8% during the second quarter. Arizona State Retirement System now owns 18,434 shares of the industrial products company’s stock valued at $848,000 after purchasing an additional 3,052 shares in the last quarter. Finally, Nykredit A S acquired a new stake in Century Aluminum in the second quarter worth about $84,000. 61.59% of the stock is owned by institutional investors.

About Century Aluminum

Century Aluminum Company is a producer of primary aluminum. The company operates aluminum smelters that convert alumina into aluminum metal, supplying standard-grade and value-added products used in transportation, construction, packaging, and other industrial applications.

Century Aluminum’s operations are primarily located in the United States and Iceland. Its U.S. portfolio includes facilities in Sebree, Kentucky, and Mount Holly, South Carolina, while its Icelandic operations include the Grundartangi smelter, operated through its Norðurál subsidiary.