Century Aluminum (NASDAQ:CENX) Downgraded to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Century Aluminum (NASDAQ:CENX) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

CENX has been the subject of a number of other reports. BMO Capital Markets upped their price target on Century Aluminum from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of Century Aluminum in a report on Wednesday, October 8th. Finally, Wells Fargo & Company raised their target price on Century Aluminum from $46.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Century Aluminum Price Performance

Century Aluminum stock opened at $47.87 on Monday. The company has a fifty day simple moving average of $35.70 and a 200-day simple moving average of $28.99. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 56.32 and a beta of 2.26. The company has a quick ratio of 0.79, a current ratio of 1.71 and a debt-to-equity ratio of 0.69. Century Aluminum has a 52-week low of $13.05 and a 52-week high of $49.67.

Century Aluminum (NASDAQ:CENX) last posted its quarterly earnings results on Thursday, November 6th. The industrial products company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.23). The business had revenue of $632.20 million for the quarter, compared to analyst estimates of $629.85 million. Century Aluminum had a return on equity of 12.83% and a net margin of 3.47%.The business’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share. On average, equities analysts anticipate that Century Aluminum will post 2.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Century Aluminum

Large investors have recently modified their holdings of the business. AQR Capital Management LLC increased its position in shares of Century Aluminum by 22.1% during the 1st quarter. AQR Capital Management LLC now owns 39,001 shares of the industrial products company’s stock worth $724,000 after purchasing an additional 7,051 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in Century Aluminum during the first quarter worth about $25,000. Empowered Funds LLC increased its position in shares of Century Aluminum by 1.8% during the first quarter. Empowered Funds LLC now owns 59,186 shares of the industrial products company’s stock valued at $1,098,000 after acquiring an additional 1,069 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Century Aluminum by 21.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 124,001 shares of the industrial products company’s stock valued at $2,301,000 after acquiring an additional 21,702 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Century Aluminum by 1,291.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,364 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 1,266 shares during the last quarter. Institutional investors and hedge funds own 61.59% of the company’s stock.

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.