Century Aluminum (NASDAQ:CENX) Reaches New 1-Year High - Time to Buy?

Key Points

• 52-week high: Century Aluminum shares hit a new 52-week high of $64.22 (last $64.01) on Monday with about 930,083 shares traded, and the 50-day/200-day SMAs ($52.08 / $40.11) point to strong recent momentum.
• Analyst sentiment: Several firms have upgraded CENX to Buy/Strong-Buy and the consensus rating is "Buy," though the average price target of $57 is below the current share price.
• Insider selling: Executives have sold sizable stakes recently (CEO sold 150,000 shares; EVP sold 66,000), leaving insiders with just 0.76% ownership while institutions hold about 61.59%.

Century Aluminum Company (NASDAQ:CENX - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The company traded as high as $64.22 and last traded at $64.0120, with a volume of 930083 shares changing hands. The stock had previously closed at $62.57.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a "hold (c)" rating on shares of Century Aluminum in a report on Wednesday, January 21st. Wells Fargo & Company increased their price target on Century Aluminum from $61.00 to $69.00 and gave the company an "overweight" rating in a research report on Thursday, March 12th. B. Riley Financial lifted their price target on Century Aluminum from $64.00 to $68.00 and gave the stock a "buy" rating in a research note on Tuesday, February 24th. Wall Street Zen upgraded Century Aluminum from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Finally, Zacks Research raised shares of Century Aluminum from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $57.00.

Century Aluminum Stock Performance

The firm's 50-day simple moving average is $52.08 and its two-hundred day simple moving average is $40.11. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $6.32 billion, a PE ratio of 159.82 and a beta of 1.99.

Century Aluminum (NASDAQ:CENX - Get Free Report) last released its earnings results on Thursday, February 19th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.25. Century Aluminum had a return on equity of 5.57% and a net margin of 1.65%.The company had revenue of $633.70 million during the quarter, compared to analyst estimates of $661.63 million. During the same quarter in the prior year, the company earned $0.49 earnings per share. The company's revenue for the quarter was up .4% on a year-over-year basis. On average, equities research analysts expect that Century Aluminum Company will post 2.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Century Aluminum news, CEO Jesse E. Gary sold 150,000 shares of Century Aluminum stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $55.47, for a total transaction of $8,320,500.00. Following the transaction, the chief executive officer owned 142,580 shares of the company's stock, valued at $7,908,912.60. The trade was a 51.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John Dezee sold 66,000 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $50.72, for a total transaction of $3,347,520.00. Following the completion of the sale, the executive vice president directly owned 97,647 shares of the company's stock, valued at $4,952,655.84. This trade represents a 40.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 401,626 shares of company stock valued at $20,847,911. 0.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Century Aluminum

Institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp acquired a new position in shares of Century Aluminum in the first quarter worth $25,000. Private Trust Co. NA purchased a new position in Century Aluminum in the fourth quarter valued at about $28,000. EverSource Wealth Advisors LLC increased its position in Century Aluminum by 253.1% in the 2nd 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 during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Century Aluminum during the 3rd quarter worth about $34,000. Finally, Transamerica Financial Advisors LLC purchased a new stake in shares of Century Aluminum during the 4th quarter worth about $40,000. Institutional investors and hedge funds 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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