Century Aluminum (NASDAQ:CENX) Shares Gap Up – Time to Buy?

Century Aluminum Company (NASDAQ:CENX) gapped up before the market opened on Tuesday . The stock had previously closed at $51.88, but opened at $54.18. Century Aluminum shares last traded at $53.0370, with a volume of 208,499 shares changing hands.

Analyst Ratings Changes

A number of research firms recently issued reports on CENX. Zacks Research downgraded shares of Century Aluminum from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. UBS Group started coverage on Century Aluminum in a report on Monday. They set a “buy” rating and a $60.00 price target on the stock. Wall Street Zen cut Century Aluminum from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Wells Fargo & Company upped their price target on shares of Century Aluminum from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, B. Riley Financial decreased their target price on Century Aluminum from $86.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Century Aluminum Stock Up 1.6%

The business’s 50-day simple moving average is $49.43 and its 200-day simple moving average is $53.96. The company has a market capitalization of $5.22 billion, a PE ratio of 9.13 and a beta of 1.96. The company has a current ratio of 2.75, a quick ratio of 1.61 and a debt-to-equity ratio of 0.31.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.13. Century Aluminum had a return on equity of 33.83% and a net margin of 22.63%.The business had revenue of $752.10 million during the quarter, compared to analyst estimates of $817.15 million. The company’s revenue was up 59.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Century Aluminum Company will post 8.34 EPS for the current fiscal year.

Institutional Trading of Century Aluminum

Several large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new stake in shares of Century Aluminum during the 2nd quarter valued at approximately $63,000. BlackRock Inc. purchased a new stake in shares of Century Aluminum in the 2nd quarter valued at approximately $474,129,000. Deutsche Bank AG acquired a new position in shares of Century Aluminum in the 2nd quarter worth approximately $12,134,000. Global Retirement Partners LLC acquired a new stake in Century Aluminum in the 2nd quarter valued at approximately $103,000. Finally, Bank of New York Mellon Corp acquired a new stake in Century Aluminum in the 2nd quarter valued at approximately $18,571,000. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

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.