Century Aluminum (NASDAQ:CENX) Trading Down 8.1% After Analyst Downgrade

Shares of Century Aluminum (NASDAQ:CENXGet Rating) were down 8.1% during mid-day trading on Thursday after BMO Capital Markets lowered their price target on the stock from $14.00 to $9.00. The stock traded as low as $7.83 and last traded at $7.85. Approximately 18,587 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 2,595,960 shares. The stock had previously closed at $8.54.

CENX has been the topic of several other research reports. Wolfe Research cut Century Aluminum from an “outperform” rating to a “peer perform” rating and dropped their price target for the company from $30.00 to $14.00 in a research report on Wednesday, May 18th. B. Riley dropped their target price on Century Aluminum from $32.00 to $30.00 in a research report on Monday, May 2nd. StockNews.com began coverage on Century Aluminum in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, TheStreet upgraded Century Aluminum from a “d” rating to a “c” rating in a research report on Thursday, February 24th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC acquired a new position in Century Aluminum during the 1st quarter worth approximately $30,000. Dark Forest Capital Management LP acquired a new stake in shares of Century Aluminum in the 3rd quarter worth approximately $30,000. Prospera Financial Services Inc acquired a new stake in shares of Century Aluminum in the 1st quarter worth approximately $104,000. KBC Group NV acquired a new stake in shares of Century Aluminum in the 1st quarter worth approximately $153,000. Finally, Captrust Financial Advisors grew its holdings in shares of Century Aluminum by 26.1% in the 1st quarter. Captrust Financial Advisors now owns 7,395 shares of the industrial products company’s stock worth $195,000 after acquiring an additional 1,529 shares during the period. Institutional investors own 56.11% of the company’s stock.

The firm has a market cap of $648.66 million, a price-to-earnings ratio of -35.55 and a beta of 2.54. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.53 and a current ratio of 1.27. The business has a fifty day moving average of $14.19 and a two-hundred day moving average of $18.23.

Century Aluminum (NASDAQ:CENXGet Rating) last released its quarterly earnings results on Thursday, April 28th. The industrial products company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.23. The business had revenue of $753.60 million for the quarter, compared to analysts’ expectations of $748.40 million. Century Aluminum had a positive return on equity of 11.58% and a negative net margin of 0.57%. During the same quarter in the prior year, the firm posted ($0.54) EPS. On average, equities research analysts forecast that Century Aluminum will post 3.46 earnings per share for the current year.

About Century Aluminum (NASDAQ:CENX)

Century Aluminum Company, together with its subsidiaries, produces standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates a carbon anode production facility in the Netherlands. The company was incorporated in 1981 and is headquartered in Chicago, Illinois.

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