Century Aluminum (NASDAQ:CENX) Downgraded by Zacks Research to "Strong Sell"

Key Points

• Zacks Research downgraded Century Aluminum from hold to strong sell, making it the latest bearish call on the stock.
• Despite the downgrade, the broader analyst view remains more positive: Century Aluminum has a Moderate Buy consensus rating with a $76.00 average price target, based on MarketBeat data.
• The stock was trading at $45.11 on Wednesday, with a market cap of $4.46 billion and a 52-week range of $18.86 to $70.43.

Century Aluminum (NASDAQ:CENX - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Wednesday,Zacks.com reports.

Several other brokerages also recently issued reports on CENX. BMO Capital Markets set a $75.00 price target on shares of Century Aluminum and gave the company an "outperform" rating in a report on Thursday, April 9th. Wall Street Zen cut shares of Century Aluminum from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 4th. Wells Fargo & Company raised their price objective 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. Weiss Ratings cut shares of Century Aluminum from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 30th. Finally, B. Riley Financial reduced their target price on Century Aluminum from $86.00 to $74.00 and set a "buy" rating on the stock in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $76.00.

Century Aluminum Stock Up 0.8%

Shares of NASDAQ CENX opened at $45.11 on Wednesday. Century Aluminum has a 52-week low of $18.86 and a 52-week high of $70.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.36 and a current ratio of 2.30. The business has a fifty day moving average of $56.68 and a two-hundred day moving average of $53.57. The stock has a market cap of $4.46 billion, a PE ratio of 13.47 and a beta of 1.96.

Institutional Investors Weigh In On Century Aluminum

A number of institutional investors and hedge funds have recently made changes to their positions in CENX. Hollencrest Capital Management bought a new position in Century Aluminum in the first quarter valued at about $29,000. Summit Securities Group LLC bought a new stake in Century Aluminum during the 1st quarter worth about $42,000. Private Trust Co. NA bought a new stake in Century Aluminum during the 4th quarter worth about $28,000. Strs Ohio bought a new stake in Century Aluminum during the 1st quarter worth about $47,000. Finally, Transamerica Financial Advisors LLC acquired a new position in Century Aluminum during the 4th quarter valued at about $40,000. 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.

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