Century Aluminum (NASDAQ:CENX) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of Century Aluminum (NASDAQ:CENX) from a hold rating to a strong sell rating in a research note published on Wednesday,Zacks.com reports.

A number of other analysts also recently issued reports on CENX. BMO Capital Markets set a $75.00 price target on Century Aluminum and gave the company an “outperform” rating in a research report on Thursday, April 9th. B. Riley Financial decreased their price objective on shares of Century Aluminum from $86.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday. Wells Fargo & Company raised their target price 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 lowered shares of Century Aluminum from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, Weiss Ratings cut shares of Century Aluminum from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.00.

Century Aluminum Price Performance

Century Aluminum stock opened at $45.11 on Wednesday. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of 13.47 and a beta of 1.96. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.37. The business has a 50-day simple moving average of $56.68 and a 200 day simple moving average of $53.57. Century Aluminum has a 52 week low of $18.86 and a 52 week high of $70.43.

Hedge Funds Weigh In On Century Aluminum

A number of large investors have recently modified their holdings of CENX. Arista Wealth Management LLC purchased a new stake in Century Aluminum in the second quarter worth approximately $542,000. GAMMA Investing LLC raised its stake in shares of Century Aluminum by 9.1% during the second quarter. GAMMA Investing LLC now owns 4,771 shares of the industrial products company’s stock worth $220,000 after acquiring an additional 398 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Century Aluminum by 33.7% in the 2nd quarter. CoreCap Advisors LLC now owns 1,855 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 468 shares during the last quarter. Wealth High Governance Capital Ltda lifted its holdings in shares of Century Aluminum by 44.2% in the 1st quarter. Wealth High Governance Capital Ltda now owns 140,525 shares of the industrial products company’s stock worth $8,247,000 after acquiring an additional 43,091 shares during the last quarter. Finally, Wealth High Governance Asset Management Ltda. boosted its stake in shares of Century Aluminum by 115.8% in the 1st quarter. Wealth High Governance Asset Management Ltda. now owns 118,950 shares of the industrial products company’s stock valued at $6,981,000 after purchasing an additional 63,818 shares in the last quarter. 61.59% of the stock is owned by hedge funds and other institutional investors.

About Century Aluminum

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.