Century Aluminum (NASDAQ:CENX) Shares Up 13.6% - Here's Why

Key Points

• Century Aluminum shares jumped 13.6% to about $52.21 in Friday’s mid-day trading, after reaching $52.65, although volume was 46% below the average daily level.
• Analyst sentiment is mixed: the stock has three Buy ratings, one Hold and one Sell, resulting in an overall “Hold” consensus and an average price target of $76.00.
• Century Aluminum has a $5.19 billion market capitalization and operates three primary aluminum smelters in Kentucky, South Carolina and Iceland; institutional investors own 61.59% of its shares.

Century Aluminum Company (NASDAQ:CENX - Get Free Report) traded up 13.6% during mid-day trading on Friday . The company traded as high as $52.65 and last traded at $52.2130. Approximately 1,169,686 shares were traded during trading, a decline of 46% from the average daily volume of 2,166,267 shares. The stock had previously closed at $45.95.

Analyst Ratings Changes

Several equities research analysts have weighed in on CENX shares. Wall Street Zen downgraded Century Aluminum from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 4th. B. Riley Financial decreased their price objective on Century Aluminum from $86.00 to $74.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Zacks Research downgraded Century Aluminum from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 8th. Weiss Ratings lowered Century Aluminum from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, July 21st. Finally, Wells Fargo & Company lifted their price target on Century Aluminum from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $76.00.

Century Aluminum Price Performance

The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 15.62 and a beta of 1.96. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average price of $49.96 and a 200 day moving average price of $53.91.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Lido Advisors LLC boosted its position in shares of Century Aluminum by 1.4% during the 1st quarter. Lido Advisors LLC now owns 13,091 shares of the industrial products company's stock worth $768,000 after purchasing an additional 180 shares during the period. Summit Global Investments raised its position in Century Aluminum by 3.2% in the first quarter. Summit Global Investments now owns 7,866 shares of the industrial products company's stock valued at $462,000 after purchasing an additional 241 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Century Aluminum by 26.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,419 shares of the industrial products company's stock worth $83,000 after purchasing an additional 297 shares in the last quarter. ProShare Advisors LLC lifted its stake in Century Aluminum by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 10,269 shares of the industrial products company's stock worth $402,000 after purchasing an additional 308 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Century Aluminum by 48.3% during the fourth 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 during the period. 61.59% of the stock is owned by institutional investors and hedge funds.

About Century Aluminum

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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