Century Aluminum (NASDAQ:CENX) Hits New 52-Week High - Time to Buy?

Key Points

• Century Aluminum stock hit a new 52-week high, reaching $33.65, and closed at $32.99, indicating strong market performance.
• Analysts have varying ratings for the stock, with two giving a Strong Buy rating, three a Buy rating, and one a Hold rating, reflecting mixed sentiment among investors.
• The company's recent earnings report showed a loss, missing forecasts, but revenue exceeded expectations, signaling potential for growth consideration despite current challenges.

Century Aluminum Company (NASDAQ:CENX - Get Free Report)'s stock price hit a new 52-week high on Monday . The stock traded as high as $33.65 and last traded at $32.99, with a volume of 98006 shares. The stock had previously closed at $32.46.

Analysts Set New Price Targets

CENX has been the subject of several analyst reports. B. Riley increased their target price on shares of Century Aluminum from $25.00 to $28.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. BMO Capital Markets reiterated an "outperform" rating on shares of Century Aluminum in a research note on Friday, August 8th. Wells Fargo & Company upgraded Century Aluminum to a "strong-buy" rating in a research report on Wednesday, October 8th. Wall Street Zen downgraded Century Aluminum from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Century Aluminum in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $28.50.

Century Aluminum Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.75 and a quick ratio of 0.61. The company has a market capitalization of $3.15 billion, a PE ratio of 29.08 and a beta of 2.52. The stock's 50 day simple moving average is $25.86 and its 200-day simple moving average is $20.77.

Century Aluminum (NASDAQ:CENX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The industrial products company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.39). Century Aluminum had a return on equity of 18.02% and a net margin of 4.94%.The business had revenue of $628.10 million for the quarter, compared to analyst estimates of $606.10 million. As a group, equities analysts forecast that Century Aluminum Company will post 2.76 earnings per share for the current fiscal year.

Insider Transactions at Century Aluminum

In other news, SVP Matt Aboud sold 12,027 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $23.27, for a total value of $279,868.29. Following the completion of the transaction, the senior vice president owned 62,589 shares in the company, valued at $1,456,446.03. This trade represents a 16.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Agust F. Hafberg sold 9,493 shares of the stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $27.91, for a total transaction of $264,949.63. Following the completion of the transaction, the senior vice president owned 55,260 shares of the company's stock, valued at $1,542,306.60. This represents a 14.66% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.68% of the company's stock.

Institutional Trading of Century Aluminum

A number of institutional investors have recently bought and sold shares of the company. Sheets Smith Wealth Management purchased a new stake in Century Aluminum during the third quarter worth $274,000. CWM LLC boosted its position in Century Aluminum by 26.3% during the third quarter. CWM LLC now owns 1,592 shares of the industrial products company's stock worth $47,000 after purchasing an additional 332 shares in the last quarter. Sheets Smith Investment Management purchased a new stake in Century Aluminum during the third quarter worth $652,000. Assenagon Asset Management S.A. boosted its position in Century Aluminum by 103.1% during the third quarter. Assenagon Asset Management S.A. now owns 407,939 shares of the industrial products company's stock worth $11,977,000 after purchasing an additional 207,040 shares in the last quarter. Finally, Praxis Investment Management Inc. purchased a new stake in Century Aluminum during the third quarter worth $228,000. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

Century Aluminum Company Profile

Century Aluminum Company, together with its subsidiaries, engages in the production of standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates an alumina production facility in Iceland, and a carbon anode production facility in the Netherlands.

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