Century Aluminum (NASDAQ:CENX) Stock Price Target Cut by B. Riley Financial

Century Aluminum (NASDAQ:CENX) had its target price reduced by analysts at B. Riley Financial from $72.00 to $64.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. B. Riley Financial‘s price target points to a potential upside of 91.32% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company cut their price target on Century Aluminum from $83.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, September 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Century Aluminum in a research report on Monday, October 19th. Zacks Research upgraded Century Aluminum from a “strong sell” rating to a “hold” rating in a research report on Monday, October 19th. Barclays started coverage on Century Aluminum in a report on Wednesday, October 14th. They set an “equal weight” rating and a $40.00 price objective for the company. Finally, UBS Group cut their target price on shares of Century Aluminum from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $62.60.

Century Aluminum Price Performance

Shares of Century Aluminum stock traded down $0.08 during midday trading on Tuesday, reaching $33.45. The company had a trading volume of 164,575 shares, compared to its average volume of 2,112,214. The company has a current ratio of 2.75, a quick ratio of 1.61 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 5.79 and a beta of 2.07. The stock has a fifty day simple moving average of $38.83 and a 200 day simple moving average of $49.72. Century Aluminum has a 1-year low of $25.40 and a 1-year high of $70.43.

Century Aluminum (NASDAQ:CENX) last posted its quarterly earnings data 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 firm had revenue of $752.10 million for the quarter, compared to the consensus estimate of $817.15 million. Century Aluminum had a return on equity of 33.83% and a net margin of 22.63%. The company’s quarterly revenue was up 59.0% on a year-over-year basis. As a group, equities research analysts forecast that Century Aluminum will post 7.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CENX. Cetera Investment Advisers increased its stake in shares of Century Aluminum by 510.6% in the 1st quarter. Cetera Investment Advisers now owns 43,612 shares of the industrial products company’s stock valued at $2,560,000 after acquiring an additional 36,469 shares during the last quarter. Allianz Asset Management GmbH bought a new position in Century Aluminum during the 2nd quarter worth approximately $2,114,000. Steamboat Capital Partners LLC boosted its stake in Century Aluminum by 7.4% during the 2nd quarter. Steamboat Capital Partners LLC now owns 296,666 shares of the industrial products company’s stock worth $13,650,000 after acquiring an additional 20,418 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Century Aluminum during the second quarter valued at approximately $2,140,000. Finally, Wellington Management Group LLP grew its holdings in Century Aluminum by 45.0% during the second quarter. Wellington Management Group LLP now owns 548,898 shares of the industrial products company’s stock valued at $25,255,000 after purchasing an additional 170,451 shares during the period. Institutional investors and hedge funds own 61.59% of the company’s stock.

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, aerospace, and other industrial applications.

Century Aluminum’s operations are located in the United States and Iceland. Its U.S. facilities include the Sebree smelter in Kentucky and the Mt. Holly smelter in South Carolina, while its Icelandic operations are based at the Grundartangi aluminum smelter.