Century Aluminum (NASDAQ:CENX) Sets New 12-Month High - Still a Buy?

Key Points

• Century Aluminum (NASDAQ:CENX) shares reached a new 52-week high of $31.66, showing strong trading volume with over 2.9 million shares exchanged.
• Analysts have mixed views on the stock, with a recent buy rating from Wells Fargo and a hold rating from Wall Street Zen, reflecting a consensus price target of $28.50.
• The company reported a net loss of ($0.05) EPS in its latest earnings, missing expectations despite a revenue of $628.10 million that surpassed analyst forecasts.

Century Aluminum Company (NASDAQ:CENX - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $31.66 and last traded at $31.60, with a volume of 2944344 shares changing hands. The stock had previously closed at $28.09.

Analysts Set New Price Targets

A number of research firms have weighed in on CENX. Wells Fargo & Company began coverage on shares of Century Aluminum in a research report on Tuesday. They issued an "overweight" rating and a $37.00 price target for the company. BMO Capital Markets reiterated an "outperform" rating on shares of Century Aluminum in a research report on Friday, August 8th. Wall Street Zen lowered shares of Century Aluminum from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. Zacks Research upgraded shares of Century Aluminum from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Century Aluminum in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $28.50.

Century Aluminum Trading Up 1.0%

The stock's fifty day moving average price is $24.39 and its 200 day moving average price is $20.10. 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 stock has a market capitalization of $2.98 billion, a P/E ratio of 27.63 and a beta of 2.52.

Century Aluminum (NASDAQ:CENX - Get Free Report) last posted its 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). The business had revenue of $628.10 million for the quarter, compared to analysts' expectations of $606.10 million. Century Aluminum had a net margin of 4.94% and a return on equity of 18.02%. Research analysts forecast that Century Aluminum Company will post 2.76 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Matt Aboud sold 12,027 shares of Century Aluminum stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $23.27, for a total value of $279,868.29. Following the sale, the senior vice president owned 62,589 shares of the company's stock, valued at approximately $1,456,446.03. This trade represents a 16.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Agust F. Hafberg sold 9,493 shares of the business's stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $27.91, for a total transaction of $264,949.63. Following the transaction, the senior vice president owned 55,260 shares in the company, valued at $1,542,306.60. The trade was a 14.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.76% of the stock is owned by company insiders.

Institutional Trading of Century Aluminum

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp purchased a new stake in Century Aluminum in the 1st quarter valued at about $25,000. Farther Finance Advisors LLC raised its holdings in Century Aluminum by 1,291.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,364 shares of the industrial products company's stock valued at $25,000 after buying an additional 1,266 shares during the period. EverSource Wealth Advisors LLC raised its holdings 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 valued at $33,000 after buying an additional 1,306 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in Century Aluminum by 261.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,020 shares of the industrial products company's stock valued at $75,000 after buying an additional 2,909 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Century Aluminum by 12.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,414 shares of the industrial products company's stock valued at $80,000 after buying an additional 506 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.