Century Aluminum (NASDAQ:CENX) Shares Down 7.7% – What’s Next?

Century Aluminum Company (NASDAQ:CENX) shares dropped 7.7% on Monday . The stock traded as low as $56.12 and last traded at $56.5030. Approximately 354,071 shares traded hands during trading, a decline of 83% from the average daily volume of 2,116,671 shares. The stock had previously closed at $61.19.

Wall Street Analysts Forecast Growth

CENX has been the subject of several research reports. BMO Capital Markets set a $75.00 price objective on shares of Century Aluminum and gave the company an “outperform” rating in a report on Thursday, April 9th. Wells Fargo & Company upped their price objective on Century Aluminum from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. B. Riley Financial upped their price objective on Century Aluminum from $68.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Zacks Research cut Century Aluminum from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Weiss Ratings upgraded Century Aluminum from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $80.00.

Century Aluminum Trading Up 1.4%

The firm has a market capitalization of $5.38 billion, a PE ratio of 16.21 and a beta of 1.90. 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 stock’s fifty day simple moving average is $62.36 and its 200 day simple moving average is $51.71.

Institutional Trading of Century Aluminum

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. PVG Asset Management Corp increased its position in Century Aluminum by 531.2% in the first quarter. PVG Asset Management Corp now owns 33,098 shares of the industrial products company’s stock worth $1,805,000 after buying an additional 27,854 shares in the last quarter. NewEdge Advisors LLC increased its position in Century Aluminum by 1,862.2% in the first quarter. NewEdge Advisors LLC now owns 4,513 shares of the industrial products company’s stock worth $265,000 after buying an additional 4,283 shares in the last quarter. Bank of America Corp DE increased its position in Century Aluminum by 98.0% in the first quarter. Bank of America Corp DE now owns 608,794 shares of the industrial products company’s stock worth $35,730,000 after buying an additional 301,268 shares in the last quarter. EverSource Wealth Advisors LLC increased its position 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 in the last quarter. Finally, California State Teachers Retirement System increased its position in Century Aluminum by 24.8% in the first quarter. California State Teachers Retirement System now owns 63,944 shares of the industrial products company’s stock worth $3,753,000 after buying an additional 12,719 shares in the last quarter. Hedge funds and other 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.