Century Aluminum (NASDAQ:CENX) Trading Down 7.7% – Here’s Why

Century Aluminum Company (NASDAQ:CENX) was down 7.7% during mid-day trading on Monday . The stock traded as low as $56.12 and last traded at $56.5030. Approximately 354,071 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 2,116,671 shares. The stock had previously closed at $61.19.

Analysts Set New Price Targets

Several analysts have issued reports on CENX shares. Weiss Ratings raised shares of Century Aluminum from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. Wells Fargo & Company lifted their price target on shares of Century Aluminum from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Wall Street Zen raised shares of Century Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Zacks Research downgraded shares of Century Aluminum from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, B. Riley Financial lifted their price target on shares of Century Aluminum from $68.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $80.00.

Century Aluminum Trading Down 11.8%

The company has a market capitalization of $5.34 billion, a PE ratio of 16.12 and a beta of 1.90. The company’s fifty day moving average is $62.70 and its 200-day moving average is $51.36. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.30 and a quick ratio of 1.36.

Hedge Funds Weigh In On Century Aluminum

Institutional investors and hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new position in Century Aluminum in the first quarter worth $25,000. Private Trust Co. NA purchased a new position in Century Aluminum in the fourth quarter worth $28,000. Hollencrest Capital Management purchased a new position in Century Aluminum in the first quarter worth $29,000. EverSource Wealth Advisors LLC grew its holdings in 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 worth $33,000 after purchasing an additional 1,306 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in Century Aluminum in the third quarter worth $34,000. 61.59% of the stock is owned by hedge funds and other institutional investors.

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.