Century Aluminum Company $CENX Shares Purchased by Encompass Capital Advisors LLC

Key Points

• Encompass Capital Advisors increased its Century Aluminum stake by 210.4% in the first quarter, acquiring 1.05 million additional shares. Its 1.55 million shares were valued at approximately $91 million, representing 1.57% of CENX.
• Institutional and hedge-fund ownership remains significant at 61.59%, with Glencore, Vanguard, Allspring Global Investments and other investors also increasing their positions.
• Analyst sentiment is mixed: CENX has a consensus “Hold” rating and an average price target of $76, while shares recently traded at $44.87, down 2.9%.

Encompass Capital Advisors LLC increased its holdings in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) by 210.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,551,362 shares of the industrial products company's stock after buying an additional 1,051,525 shares during the quarter. Century Aluminum accounts for about 2.7% of Encompass Capital Advisors LLC's portfolio, making the stock its 6th largest position. Encompass Capital Advisors LLC owned approximately 1.57% of Century Aluminum worth $91,049,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CENX. Drummond Knight Asset Management Pty Ltd purchased a new stake in shares of Century Aluminum during the fourth quarter worth about $12,278,000. Glencore plc increased its holdings in shares of Century Aluminum by 33.6% during the fourth quarter. Glencore plc now owns 53,511,894 shares of the industrial products company's stock valued at $2,096,596,000 after acquiring an additional 13,454,538 shares in the last quarter. Ruffer LLP purchased a new position in shares of Century Aluminum in the 4th quarter valued at approximately $936,000. Vanguard Group Inc. raised its position in shares of Century Aluminum by 18.7% in the 4th quarter. Vanguard Group Inc. now owns 6,939,794 shares of the industrial products company's stock valued at $271,901,000 after purchasing an additional 1,094,257 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Century Aluminum by 1,993.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 455,876 shares of the industrial products company's stock worth $18,664,000 after purchasing an additional 434,097 shares in the last quarter. 61.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CENX has been the topic of several research analyst reports. Wall Street Zen downgraded shares of 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 target on shares of Century Aluminum from $86.00 to $74.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. BMO Capital Markets set a $75.00 price objective on shares of Century Aluminum and gave the stock an "outperform" rating in a research note on Thursday, April 9th. Weiss Ratings lowered shares of Century Aluminum from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, July 21st. Finally, Zacks Research lowered shares of Century Aluminum from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $76.00.

Century Aluminum Trading Down 2.9%

Shares of NASDAQ:CENX opened at $44.87 on Tuesday. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.37. Century Aluminum Company has a 12-month low of $20.21 and a 12-month high of $70.43. The business has a 50 day moving average of $52.89 and a two-hundred day moving average of $53.96. The company has a market capitalization of $4.44 billion, a PE ratio of 13.39 and a beta of 1.96.

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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