Century Aluminum (NASDAQ:CENX) Stock Price Up 4.4% – Here’s What Happened

Century Aluminum Company (NASDAQ:CENX) shot up 4.4% during mid-day trading on Monday . The company traded as high as $46.44 and last traded at $45.8450. 294,831 shares changed hands during trading, a decline of 87% from the average daily volume of 2,188,354 shares. The stock had previously closed at $43.92.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CENX shares. UBS Group started coverage on Century Aluminum in a research report on Monday, August 10th. They issued a “buy” rating and a $60.00 price target on the stock. Wells Fargo & Company increased their price objective on Century Aluminum from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Wall Street Zen downgraded Century Aluminum from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Weiss Ratings cut Century Aluminum from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 21st. Finally, Zacks Research downgraded Century Aluminum from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.00.

Century Aluminum Trading Up 2.1%

The firm has a market cap of $4.44 billion, a PE ratio of 7.77 and a beta of 1.96. The company’s fifty day moving average price is $46.41 and its two-hundred day moving average price is $53.88. The company has a quick ratio of 1.61, a current ratio of 2.75 and a debt-to-equity ratio of 0.31.

Century Aluminum (NASDAQ:CENX) last posted its quarterly earnings results on Thursday, August 6th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.13. The firm had revenue of $752.10 million during the quarter, compared to analysts’ expectations of $817.15 million. Century Aluminum had a net margin of 22.63% and a return on equity of 33.83%. The firm’s quarterly revenue was up 59.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Century Aluminum Company will post 8.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Century Aluminum

Large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Century Aluminum in the second quarter worth $474,129,000. California State Teachers Retirement System lifted its holdings in Century Aluminum by 5,428.0% in the second quarter. California State Teachers Retirement System now owns 3,534,810 shares of the industrial products company’s stock valued at $162,637,000 after acquiring an additional 3,470,866 shares during the period. Sourcerock Group LLC boosted its position in shares of Century Aluminum by 612.0% during the 2nd quarter. Sourcerock Group LLC now owns 1,424,088 shares of the industrial products company’s stock worth $25,662,000 after purchasing an additional 1,224,088 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Century Aluminum by 18.7% during the 4th quarter. Vanguard Group Inc. now owns 6,939,794 shares of the industrial products company’s stock worth $271,901,000 after purchasing an additional 1,094,257 shares in the last quarter. Finally, Encompass Capital Advisors LLC boosted its position in shares of Century Aluminum by 210.4% during the 1st quarter. Encompass Capital Advisors LLC now owns 1,551,362 shares of the industrial products company’s stock worth $91,049,000 after purchasing an additional 1,051,525 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.