Century Aluminum (NASDAQ:CENX) Stock Price Down 3.5% - Here's Why

Century Aluminum (NASDAQ:CENX - Get Free Report) fell 3.5% on Monday . The stock traded as low as $18.39 and last traded at $18.39. 521,823 shares were traded during trading, a decline of 64% from the average session volume of 1,448,012 shares. The stock had previously closed at $19.06.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CENX. BMO Capital Markets raised shares of Century Aluminum from a "market perform" rating to an "outperform" rating and set a $22.00 target price on the stock in a research note on Monday, February 24th. Wall Street Zen raised Century Aluminum from a "sell" rating to a "hold" rating in a research note on Friday, May 9th.

Century Aluminum Price Performance

The company has a current ratio of 1.71, a quick ratio of 0.56 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.68 billion, a P/E ratio of 5.70 and a beta of 2.54. The firm has a 50-day simple moving average of $16.87 and a 200-day simple moving average of $18.45.

Century Aluminum (NASDAQ:CENX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.25). The company had revenue of $633.90 million for the quarter, compared to the consensus estimate of $643.80 million. Century Aluminum had a net margin of 14.69% and a return on equity of 13.38%. As a group, analysts forecast that Century Aluminum will post 2.76 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Century Aluminum by 10.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 539,161 shares of the industrial products company's stock valued at $9,824,000 after acquiring an additional 51,770 shares during the last quarter. Empowered Funds LLC increased its position in shares of Century Aluminum by 5.1% during the fourth quarter. Empowered Funds LLC now owns 58,117 shares of the industrial products company's stock worth $1,059,000 after purchasing an additional 2,801 shares in the last quarter. Natixis Advisors LLC purchased a new stake in shares of Century Aluminum during the 4th quarter valued at $313,000. Glencore plc acquired a new stake in shares of Century Aluminum in the 4th quarter worth $729,427,000. Finally, Nuveen Asset Management LLC boosted its position in shares of Century Aluminum by 208.3% in the 4th quarter. Nuveen Asset Management LLC now owns 413,223 shares of the industrial products company's stock worth $7,529,000 after purchasing an additional 279,211 shares in the last quarter. Hedge funds and other institutional investors own 61.59% of the company's stock.

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.