Century Aluminum (NASDAQ:CENX) Given New $71.00 Price Target at Wells Fargo & Company

Century Aluminum (NASDAQ:CENX) had its price target reduced by Wells Fargo & Company from $79.00 to $71.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other analysts have also weighed in on the stock. UBS Group dropped their target price on shares of Century Aluminum from $60.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Century Aluminum in a report on Monday, October 19th. Zacks Research upgraded Century Aluminum from a “strong sell” rating to a “hold” rating in a report on Monday, October 19th. Wall Street Zen lowered Century Aluminum from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 20th. Finally, Barclays started coverage on Century Aluminum in a report on Wednesday, October 14th. They issued an “equal weight” rating and a $40.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Century Aluminum currently has a consensus rating of “Moderate Buy” and an average target price of $61.00.

Century Aluminum Trading Up 11.3%

NASDAQ:CENX traded up $3.40 during midday trading on Friday, reaching $33.47. 3,257,735 shares of the stock traded hands, compared to its average volume of 2,139,764. The stock has a market capitalization of $3.31 billion, a P/E ratio of 3.92 and a beta of 2.17. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.61 and a current ratio of 2.75. The company has a fifty day moving average of $37.87 and a 200 day moving average of $49.41. Century Aluminum has a 12 month low of $25.40 and a 12 month high of $70.43.

Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings results on Thursday, November 5th. The industrial products company reported $2.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). Century Aluminum had a return on equity of 33.83% and a net margin of 22.63%. The firm had revenue of $961.20 million during the quarter, compared to the consensus estimate of $951.71 million. During the same period last year, the business earned $0.56 EPS. Century Aluminum’s revenue was up 52.0% on a year-over-year basis. On average, research analysts predict that Century Aluminum will post 7.64 EPS for the current year.

Institutional Investors Weigh In On Century Aluminum

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lido Advisors LLC increased its position in shares of Century Aluminum by 1.4% during the first quarter. Lido Advisors LLC now owns 13,091 shares of the industrial products company’s stock valued at $768,000 after buying an additional 180 shares during the period. Summit Global Investments raised its stake in Century Aluminum by 3.2% in the first quarter. Summit Global Investments now owns 7,866 shares of the industrial products company’s stock worth $462,000 after buying an additional 241 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Century Aluminum by 26.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,419 shares of the industrial products company’s stock worth $83,000 after buying an additional 297 shares during the period. GAMMA Investing LLC lifted its holdings in Century Aluminum by 9.1% in the second quarter. GAMMA Investing LLC now owns 4,771 shares of the industrial products company’s stock worth $220,000 after buying an additional 398 shares during the period. Finally, CoreCap Advisors LLC boosted its position in Century Aluminum by 33.7% during the 2nd quarter. CoreCap Advisors LLC now owns 1,855 shares of the industrial products company’s stock valued at $85,000 after acquiring an additional 468 shares in the last quarter. 61.59% of the stock is owned by hedge funds and other institutional investors.

More Century Aluminum News

Here are the key news stories impacting Century Aluminum this week:

• Positive Sentiment: Shipments rose about 33% sequentially to 173,483 tonnes, aided by the restart of the company’s Iceland smelter. Revenue increased 52% year over year to $961.2 million, while reported diluted EPS was $2.89, up from $0.56 a year earlier. Century Aluminum Q3 results
• Positive Sentiment: Quarterly revenue exceeded analyst estimates, and the production recovery could support further sales growth if operating conditions remain favorable. Iceland smelter restart and Q3 performance
• Neutral Sentiment: Wells Fargo lowered its price target from $79 to $71 but kept an Overweight rating, indicating continued optimism despite a more cautious valuation. Wells Fargo rating and target
• Negative Sentiment: Adjusted EPS was $2.58, below the cited analyst consensus of $2.67. Reports attributed pressure to power and operating costs, tempering the strong shipment and revenue figures. Q3 results and cost pressures

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.