Zacks Research Downgrades Century Aluminum (NASDAQ:CENX) to Hold

Century Aluminum (NASDAQ:CENX) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

CENX has been the topic of a number of other reports. Wall Street Zen raised shares of Century Aluminum from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. BMO Capital Markets set a $75.00 price target on shares of Century Aluminum and gave the company an “outperform” rating in a research report on Thursday, April 9th. B. Riley Financial raised their price target on shares of Century Aluminum from $68.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Wells Fargo & Company raised their price target on shares of Century Aluminum from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Weiss Ratings raised shares of Century Aluminum from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $80.00.

Century Aluminum Stock Down 3.8%

Century Aluminum stock opened at $60.91 on Monday. Century Aluminum has a 1-year low of $16.59 and a 1-year high of $70.43. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 18.18 and a beta of 1.90. The firm’s fifty day moving average price is $62.59 and its two-hundred day moving average price is $50.65. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.37.

Insider Transactions at Century Aluminum

In related news, CEO Jesse E. Gary sold 150,000 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $55.47, for a total transaction of $8,320,500.00. Following the completion of the sale, the chief executive officer owned 142,580 shares in the company, valued at approximately $7,908,912.60. This trade represents a 51.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Century Aluminum

A number of large investors have recently added to or reduced their stakes in CENX. Jones Financial Companies Lllp purchased a new position in shares of Century Aluminum in the first quarter worth about $25,000. Private Trust Co. NA purchased a new position in shares of Century Aluminum in the fourth quarter worth about $28,000. Hollencrest Capital Management purchased a new position in shares of Century Aluminum in the first quarter worth about $29,000. EverSource Wealth Advisors LLC increased its stake in shares of Century Aluminum by 253.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 1,306 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Century Aluminum in the third quarter worth about $34,000. 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.