Century Aluminum (NASDAQ:CENX) Stock Rating Lowered by Zacks Research

Century Aluminum (NASDAQ:CENX) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday,Zacks.com reports.

CENX has been the topic of several other reports. B. Riley Financial reduced their price target on Century Aluminum from $86.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday. Weiss Ratings downgraded Century Aluminum from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Wall Street Zen lowered Century Aluminum from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. BMO Capital Markets set a $75.00 target price on Century Aluminum and gave the stock an “outperform” rating in a report on Thursday, April 9th. Finally, Wells Fargo & Company boosted their target price on Century Aluminum from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.00.

Century Aluminum Price Performance

CENX opened at $45.11 on Wednesday. The company has a fifty day moving average price of $56.68 and a two-hundred day moving average price of $53.57. The firm has a market capitalization of $4.46 billion, a PE ratio of 13.47 and a beta of 1.96. Century Aluminum has a 52 week low of $18.86 and a 52 week high of $70.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.36 and a current ratio of 2.30.

Hedge Funds Weigh In On Century Aluminum

Large investors have recently added to or reduced their stakes in the company. Glencore plc grew its holdings in shares of Century Aluminum by 33.6% during the fourth quarter. Glencore plc now owns 53,511,894 shares of the industrial products company’s stock worth $2,096,596,000 after buying an additional 13,454,538 shares in the last quarter. Sourcerock Group LLC raised its holdings in shares of Century Aluminum by 612.0% in the 2nd quarter. Sourcerock Group LLC now owns 1,424,088 shares of the industrial products company’s stock valued at $25,662,000 after purchasing an additional 1,224,088 shares during the period. Vanguard Group Inc. lifted its position in shares of Century Aluminum by 18.7% in the fourth quarter. Vanguard Group Inc. now owns 6,939,794 shares of the industrial products company’s stock valued at $271,901,000 after buying an additional 1,094,257 shares during the last quarter. Encompass Capital Advisors LLC lifted its holdings in Century Aluminum by 210.4% during the 1st quarter. Encompass Capital Advisors LLC now owns 1,551,362 shares of the industrial products company’s stock valued at $91,049,000 after purchasing an additional 1,051,525 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Century Aluminum by 109.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,830,324 shares of the industrial products company’s stock worth $107,422,000 after buying an additional 957,571 shares during the last quarter. Institutional investors own 61.59% of the company’s stock.

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.