Century Aluminum Company (NASDAQ:CENX) Stock Has Consensus Target Price of $70.75 According to Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Century Aluminum, with four buys, one hold and one sell. The average 12-month price target is $70.75, though UBS and Wells Fargo recently reduced their targets.
• Institutional investors and hedge funds own 61.59% of the company; BlackRock initiated a stake worth approximately $474.1 million, while several other funds increased their holdings.
• CENX shares opened at $34.96, well below the $70.43 52-week high. In its latest quarter, Century Aluminum beat EPS estimates with $2.46 per share, while revenue reached $752.1 million, up 59% year over year but below expectations.

Century Aluminum Company (NASDAQ:CENX - Get Free Report) has received a consensus rating of "Moderate Buy" from the six ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $70.75.

A number of equities analysts have recently issued reports on CENX shares. B. Riley Financial reaffirmed a "buy" rating on shares of Century Aluminum in a research report on Tuesday, August 18th. UBS Group decreased their price objective on Century Aluminum from $60.00 to $55.00 and set a "buy" rating for the company in a report on Thursday. Wells Fargo & Company lowered their price objective on Century Aluminum from $83.00 to $79.00 and set an "overweight" rating for the company in a research report on Friday, September 18th. Zacks Research downgraded Century Aluminum from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings downgraded Century Aluminum from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 21st.

Institutional Investors Weigh In On Century Aluminum

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Century Aluminum during the 2nd quarter worth about $474,129,000. Assenagon Asset Management S.A. grew its stake in Century Aluminum by 109.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,830,324 shares of the industrial products company's stock valued at $107,422,000 after purchasing an additional 957,571 shares during the last quarter. Encompass Capital Advisors LLC grew its stake in Century Aluminum by 210.4% during the 1st quarter. Encompass Capital Advisors LLC now owns 1,551,362 shares of the industrial products company's stock valued at $91,049,000 after purchasing an additional 1,051,525 shares during the last quarter. Impala Asset Management LLC increased its holdings in shares of Century Aluminum by 13.7% in the first quarter. Impala Asset Management LLC now owns 975,000 shares of the industrial products company's stock valued at $57,223,000 after purchasing an additional 117,195 shares during the period. Finally, Kinetic Partners Management LP acquired a new position in shares of Century Aluminum in the second quarter valued at about $35,736,000. Institutional investors and hedge funds own 61.59% of the company's stock.

Century Aluminum Stock Down 4.9%

Shares of Century Aluminum stock opened at $34.96 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 2.75 and a debt-to-equity ratio of 0.31. The company has a market cap of $3.46 billion, a P/E ratio of 6.04 and a beta of 2.07. The firm's 50 day moving average price is $42.87 and its 200-day moving average price is $51.15. Century Aluminum has a 52-week low of $25.40 and a 52-week high of $70.43.

Century Aluminum (NASDAQ:CENX - Get Free Report) last posted its earnings results on Thursday, August 6th. The industrial products company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.33 by $0.13. The company had revenue of $752.10 million during the quarter, compared to analysts' expectations of $817.15 million. Century Aluminum had a net margin of 22.63% and a return on equity of 33.83%. The business's revenue was up 59.0% compared to the same quarter last year. On average, sell-side analysts predict that Century Aluminum will post 7.75 EPS for the current fiscal year.

Century Aluminum Company Profile

Century Aluminum Company is a producer of primary aluminum. The company operates aluminum reduction facilities that convert alumina into aluminum metal through the electrolytic smelting process. Its products include standard-grade and value-added primary aluminum, which is supplied to manufacturers and other industrial customers.

Century Aluminum serves markets such as automotive, aerospace, construction, packaging and consumer products. Its operations have included facilities in the United States and Iceland, including smelters in Kentucky, South Carolina and at Grundartangi, Iceland.

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