Century Aluminum (NASDAQ:CENX) Sets New 1-Year High - Still a Buy?

Key Points

• Century Aluminum shares reached a new 52-week high of $28.47 during trading, closing at $27.99, representing a significant increase from a previous close of $25.96.
• Analyst ratings show a positive outlook, with B. Riley raising their price target from $25.00 to $28.00 while Zacks upgraded the stock to a strong-buy rating.
• Despite exceeding revenue estimates of $606.10 million with reported revenue of $628.10 million, Century Aluminum missed earnings per share expectations, posting ($0.05) EPS against a consensus of $0.34.

Century Aluminum Company (NASDAQ:CENX - Get Free Report) shares reached a new 52-week high during trading on Saturday . The company traded as high as $28.47 and last traded at $27.99, with a volume of 2679742 shares changing hands. The stock had previously closed at $25.96.

Analyst Ratings Changes

A number of research analysts recently commented on CENX shares. B. Riley upped their price objective on Century Aluminum from $25.00 to $28.00 and gave the company a "buy" rating in a report on Tuesday, September 9th. BMO Capital Markets reiterated an "outperform" rating on shares of Century Aluminum in a report on Friday, August 8th. Zacks Research upgraded Century Aluminum from a "hold" rating to a "strong-buy" rating in a report on Monday, August 18th. Finally, Wall Street Zen cut Century Aluminum from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $25.67.

Century Aluminum Stock Up 7.8%

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 business has a 50 day simple moving average of $23.25 and a 200 day simple moving average of $19.55. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 24.13 and a beta of 2.55.

Century Aluminum (NASDAQ:CENX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The industrial products company reported ($0.05) EPS 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 firm had revenue of $628.10 million for the quarter, compared to analyst estimates of $606.10 million. As a group, equities analysts predict that Century Aluminum Company will post 2.76 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Matt Aboud sold 12,027 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $23.27, for a total value of $279,868.29. Following the sale, the senior vice president directly owned 62,589 shares in the company, valued at approximately $1,456,446.03. This trade represents a 16.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.76% of the company's stock.

Institutional Trading of Century Aluminum

Several hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. raised its stake in shares of Century Aluminum by 6.8% in the second quarter. Osaic Holdings Inc. now owns 16,772 shares of the industrial products company's stock valued at $302,000 after acquiring an additional 1,066 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Century Aluminum by 139.8% in the second quarter. Squarepoint Ops LLC now owns 252,331 shares of the industrial products company's stock valued at $4,547,000 after acquiring an additional 147,087 shares in the last quarter. State of Wyoming acquired a new stake in shares of Century Aluminum in the second quarter valued at $1,396,000. Nomura Holdings Inc. acquired a new stake in shares of Century Aluminum in the second quarter valued at $283,000. Finally, Public Sector Pension Investment Board raised its stake in shares of Century Aluminum by 8.0% in the second quarter. Public Sector Pension Investment Board now owns 178,097 shares of the industrial products company's stock valued at $3,209,000 after acquiring an additional 13,264 shares in the last quarter. 61.59% of the stock is currently owned by institutional investors and hedge funds.

About Century Aluminum

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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