Cibc World Market Inc. Buys Shares of 132,202 Century Aluminum Company $CENX

Key Points

• Cibc World Market Inc. acquired 132,202 Century Aluminum shares in the second quarter, valued at approximately $6.1 million and representing about 0.13% of the company. Institutional investors collectively own 61.59% of CENX.
• Analyst sentiment remains generally positive, with four Buy ratings, one Hold and one Sell; the consensus rating is Moderate Buy with a $72 price target.
• Century Aluminum reported quarterly EPS of $2.46, beating estimates of $2.33, while revenue rose 59% year over year to $752.1 million but fell short of the $817.15 million consensus forecast.

Cibc World Market Inc. purchased a new position in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 132,202 shares of the industrial products company's stock, valued at approximately $6,083,000. Cibc World Market Inc. owned approximately 0.13% of Century Aluminum as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Century Aluminum in the 2nd quarter valued at $474,129,000. Vanguard Group Inc. lifted its stake in Century Aluminum by 18.7% during the 4th quarter. Vanguard Group Inc. now owns 6,939,794 shares of the industrial products company's stock worth $271,901,000 after acquiring an additional 1,094,257 shares in the last quarter. State Street Corp boosted its holdings in Century Aluminum by 1.8% during the 4th quarter. State Street Corp now owns 4,295,711 shares of the industrial products company's stock valued at $168,306,000 after acquiring an additional 77,895 shares during the period. Assenagon Asset Management S.A. boosted its holdings 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 acquiring an additional 957,571 shares during the period. Finally, Morgan Stanley grew its position in Century Aluminum by 12.3% in the 4th quarter. Morgan Stanley now owns 1,609,093 shares of the industrial products company's stock valued at $63,044,000 after acquiring an additional 176,730 shares in the last quarter. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CENX. UBS Group initiated coverage on shares of Century Aluminum in a research note on Monday, August 10th. They set a "buy" rating and a $60.00 price target on the stock. Wells Fargo & Company lifted their price objective on shares of Century Aluminum from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Zacks Research downgraded shares of Century Aluminum from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 8th. B. Riley Financial reiterated a "buy" rating on shares of Century Aluminum in a report on Tuesday, August 18th. Finally, Wall Street Zen cut shares of Century Aluminum from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 4th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $72.00.

Century Aluminum Stock Performance

Shares of Century Aluminum stock opened at $44.20 on Wednesday. Century Aluminum Company has a one year low of $20.91 and a one year high of $70.43. The company has a market cap of $4.38 billion, a PE ratio of 7.63 and a beta of 1.96. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.61 and a current ratio of 2.75. The business has a 50-day simple moving average of $46.01 and a 200-day simple moving average of $53.81.

Century Aluminum (NASDAQ:CENX - Get Free Report) last issued its earnings results on Thursday, August 6th. The industrial products company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.13. Century Aluminum had a net margin of 22.63% and a return on equity of 33.83%. The firm had revenue of $752.10 million for the quarter, compared to analysts' expectations of $817.15 million. The business's revenue for the quarter was up 59.0% on a year-over-year basis. On average, equities research analysts forecast that Century Aluminum Company will post 8.34 EPS for the current fiscal year.

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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