Century Aluminum (NASDAQ:CENX) Shares Gap Down - What's Next?

Key Points

• Shares gapped down, opening at $59.71 after a $65.61 close and trading down roughly 5.7% (last $61.10) on elevated volume.
• Analysts maintain a consensus "Moderate Buy" with a $79.33 average price target; several firms lifted targets (B. Riley to $86, Wells Fargo to $77) while Zacks cut to a hold.
• Insiders have sold heavily recently—401,626 shares worth about $20.85M over the last 90 days—leaving insiders with just 0.76% ownership despite 61.59% held by institutions.

Century Aluminum Company (NASDAQ:CENX - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $65.61, but opened at $59.71. Century Aluminum shares last traded at $61.1040, with a volume of 559,152 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. B. Riley Financial lifted their target price on Century Aluminum from $68.00 to $86.00 and gave the stock a "buy" rating in a research report on Tuesday, April 7th. Wall Street Zen upgraded Century Aluminum from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. Wells Fargo & Company lifted their target price on Century Aluminum from $69.00 to $77.00 and gave the stock an "overweight" rating in a research report on Wednesday. Zacks Research lowered Century Aluminum from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Century Aluminum in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.33.

Century Aluminum Trading Down 5.7%

The firm has a market cap of $6.12 billion, a P/E ratio of 154.28 and a beta of 1.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.98 and a current ratio of 1.97. The firm has a fifty day moving average of $55.33 and a 200-day moving average of $42.35.

Century Aluminum (NASDAQ:CENX - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.25. The business had revenue of $633.70 million for the quarter, compared to the consensus estimate of $661.63 million. Century Aluminum had a return on equity of 5.57% and a net margin of 1.65%.The business's revenue was up .4% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS. Equities research analysts forecast that Century Aluminum Company will post 2.76 earnings per share for the current year.

Insiders Place Their Bets

In other Century Aluminum news, EVP John Dezee sold 66,000 shares of Century Aluminum stock in a transaction 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 sale, the executive vice president owned 97,647 shares of the company's stock, valued at $4,952,655.84. The trade was a 40.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Matt Aboud sold 2,971 shares of Century Aluminum stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $52.67, for a total value of $156,482.57. Following the sale, the senior vice president directly owned 64,843 shares in the company, valued at $3,415,280.81. The trade was a 4.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 401,626 shares of company stock worth $20,847,911 over the last 90 days. Insiders own 0.76% of the company's stock.

Institutional Trading of Century Aluminum

Hedge funds have recently added to or reduced their stakes in the business. Private Trust Co. NA bought a new stake in Century Aluminum during the 4th quarter valued at $28,000. Transamerica Financial Advisors LLC bought a new stake in Century Aluminum during the 4th quarter valued at $40,000. Advisory Services Network LLC bought a new stake in shares of Century Aluminum in the 3rd quarter worth $34,000. Smartleaf Asset Management LLC raised its stake in shares of Century Aluminum by 48.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,185 shares of the industrial products company's stock worth $47,000 after buying an additional 386 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in shares of Century Aluminum by 68.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,218 shares of the industrial products company's stock worth $48,000 after buying an additional 497 shares in the last quarter. Institutional investors 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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