Century Aluminum (NASDAQ:CENX) Downgraded to "Buy" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Century Aluminum from “strong buy” to “buy,” while analysts overall maintain a “Moderate Buy” consensus with a $72.00 target price.
• Century Aluminum shares fell 4.3% to open at $39.01, well below their 52-week high of $70.43. The company reported quarterly EPS of $2.46, exceeding estimates, although revenue of $752.1 million came in below expectations.
• Institutional ownership stands at 61.59%, with major investors including BlackRock, Assenagon Asset Management, and Encompass Capital Advisors increasing or initiating positions.

Century Aluminum (NASDAQ:CENX - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Sunday, Wall Street Zen reports.

Other research analysts have also issued reports about the stock. Weiss Ratings lowered shares of Century Aluminum from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 21st. B. Riley Financial reissued a "buy" rating on shares of Century Aluminum in a research report on Tuesday, August 18th. Wells Fargo & Company lowered their target price on shares of Century Aluminum from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Friday. Zacks Research cut shares of Century Aluminum from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 8th. Finally, UBS Group initiated coverage on Century Aluminum in a research note on Monday, August 10th. They set a "buy" rating and a $60.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $72.00.

Century Aluminum Trading Down 4.3%

NASDAQ CENX opened at $39.01 on Friday. 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 has a 52 week low of $25.40 and a 52 week high of $70.43. The business has a 50 day moving average price of $45.23 and a 200-day moving average price of $52.98. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 6.74 and a beta of 1.99.

Century Aluminum (NASDAQ:CENX - Get Free Report) last issued its earnings results on Thursday, August 6th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.33 by $0.13. The company had revenue of $752.10 million for the quarter, compared to analysts' expectations of $817.15 million. Century Aluminum had a return on equity of 33.83% and a net margin of 22.63%.The firm's quarterly revenue was up 59.0% on a year-over-year basis. As a group, equities analysts expect that Century Aluminum will post 7.75 earnings per share for the current fiscal year.

Institutional Trading of Century Aluminum

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Century Aluminum during the second quarter worth about $474,129,000. Assenagon Asset Management S.A. increased its stake in Century Aluminum by 109.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,830,324 shares of the industrial products company's stock valued at $107,422,000 after buying an additional 957,571 shares during the last quarter. Encompass Capital Advisors LLC lifted 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 buying an additional 1,051,525 shares in the last quarter. Impala Asset Management LLC boosted its stake in shares of Century Aluminum by 13.7% in the 1st quarter. Impala Asset Management LLC now owns 975,000 shares of the industrial products company's stock worth $57,223,000 after buying an additional 117,195 shares during the last quarter. Finally, Kinetic Partners Management LP purchased a new position in shares of Century Aluminum in the 2nd quarter worth approximately $35,736,000. Institutional investors own 61.59% of the company's stock.

Century Aluminum Company Profile

Century Aluminum Company is a producer of primary aluminum. The company operates aluminum smelters that convert alumina into aluminum metal, supplying standard-grade and value-added products used in transportation, construction, packaging, and other industrial applications.

Century Aluminum's operations are primarily located in the United States and Iceland. Its U.S. portfolio includes facilities in Sebree, Kentucky, and Mount Holly, South Carolina, while its Icelandic operations include the Grundartangi smelter, operated through its Norðurál subsidiary.

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