Century Aluminum (NASDAQ:CENX) Raised to Strong-Buy at Wall Street Zen

Century Aluminum (NASDAQ:CENX) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued research reports about the stock. UBS Group started coverage on shares of Century Aluminum in a report on Monday, August 10th. They set a “buy” rating and a $60.00 price target on the stock. Weiss Ratings cut shares of Century Aluminum from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 21st. Zacks Research downgraded shares of Century Aluminum from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. Finally, B. Riley Financial restated a “buy” rating on shares of Century Aluminum in a research note on Tuesday, August 18th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Century Aluminum Price Performance

NASDAQ CENX opened at $44.05 on Friday. Century Aluminum has a 52 week low of $24.58 and a 52 week high of $70.43. The company has a quick ratio of 1.61, a current ratio of 2.75 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $4.36 billion, a P/E ratio of 7.61 and a beta of 1.99. The stock’s 50-day moving average price is $45.75 and its 200-day moving average price is $53.42.

Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.13. The company had revenue of $752.10 million during 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 firm’s revenue for the quarter was up 59.0% on a year-over-year basis. On average, equities research analysts predict that Century Aluminum will post 7.75 earnings per share for the current year.

Institutional Trading of Century Aluminum

Several institutional investors and hedge funds have recently added to or reduced their stakes in CENX. Jones Financial Companies Lllp bought a new position in Century Aluminum in the 1st quarter worth approximately $25,000. Hollencrest Capital Management purchased a new stake in Century Aluminum during the 1st quarter valued at approximately $29,000. EverSource Wealth Advisors LLC grew its holdings in Century Aluminum by 253.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock valued at $33,000 after buying an additional 1,306 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Century Aluminum during the third quarter valued at approximately $34,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Century Aluminum during the second quarter valued at approximately $37,000. Institutional investors own 61.59% of the company’s stock.

Century Aluminum Company Profile

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, and other industrial applications.

Century Aluminum’s operations are primarily located in the United States and Iceland. Its U.S. portfolio includes facilities in Sebree, Kentucky, and Mount Holly, South Carolina, while its Icelandic operations include the Grundartangi smelter, operated through its Norðurál subsidiary.