Century Aluminum (NASDAQ:CENX) Stock Price Down 6% - Here's Why

Key Points

• Century Aluminum's shares fell 6% to $20.99, with trading volume dropping to approximately 275,329 shares, significantly below its average.
• Analyst ratings are mixed, with one strong buy and three buy ratings, while the consensus price target is set at $24.67.
• The company reported a loss of $0.05 per share for the last quarter, missing expectations, despite revenue exceeding forecasts at $628.10 million.

Century Aluminum Company (NASDAQ:CENX - Get Free Report) dropped 6% during trading on Tuesday . The company traded as low as $21.07 and last traded at $20.99. Approximately 275,329 shares were traded during trading, a decline of 83% from the average daily volume of 1,650,386 shares. The stock had previously closed at $22.33.

Analyst Ratings Changes

CENX has been the subject of a number of research analyst reports. B. Riley upped their price objective on shares of Century Aluminum from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, August 8th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Century Aluminum in a research note on Friday, August 8th. Wall Street Zen cut Century Aluminum from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Finally, Zacks Research upgraded Century Aluminum from a "hold" rating to a "strong-buy" rating in a report on Monday, August 18th. One research 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, the stock presently has an average rating of "Buy" and a consensus target price of $24.67.

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's 50-day simple moving average is $21.36 and its 200-day simple moving average is $18.85. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 19.04 and a beta of 2.55.

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

Insider Transactions at Century Aluminum

In other Century Aluminum news, SVP Matt Aboud sold 12,027 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 62,589 shares of the company's stock, valued at $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 available through the SEC website. 0.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Century Aluminum

Institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its stake in shares of Century Aluminum by 1,291.8% during 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 last quarter. Jones Financial Companies Lllp purchased a new position in shares of Century Aluminum during the 1st quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of Century Aluminum by 253.1% during 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 last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Century Aluminum by 261.8% during 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 last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Century Aluminum by 12.9% during 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 last quarter. 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.