MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 604,225 Shares of Century Aluminum Company $CENX

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its stake in Century Aluminum Company by 29.2% in Q1, reducing its shares to 1,463,009 valued at $27.15 million.
• Analysts have mixed views on Century Aluminum, with B. Riley increasing its price target to $25.00 and Zacks raising its rating to strong-buy, while Wall Street Zen downgraded it from buy to hold.
• Century Aluminum reported a loss of ($0.05) earnings per share in its latest quarter, missing estimates of $0.34, despite revenue exceeding forecasts at $628.10 million.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its position in shares of Century Aluminum Company (NASDAQ:CENX - Free Report) by 29.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,463,009 shares of the industrial products company's stock after selling 604,225 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.57% of Century Aluminum worth $27,153,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Century Aluminum by 261.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 4,020 shares of the industrial products company's stock worth $75,000 after purchasing an additional 2,909 shares during the period. GAMMA Investing LLC lifted its holdings in Century Aluminum by 13.1% in the first quarter. GAMMA Investing LLC now owns 5,418 shares of the industrial products company's stock worth $101,000 after buying an additional 628 shares during the period. AlphaQuest LLC lifted its holdings in Century Aluminum by 177.6% in the first quarter. AlphaQuest LLC now owns 6,970 shares of the industrial products company's stock worth $129,000 after buying an additional 4,459 shares during the period. Vise Technologies Inc. purchased a new stake in Century Aluminum in the fourth quarter worth about $225,000. Finally, ProShare Advisors LLC lifted its holdings in Century Aluminum by 44.5% in the fourth quarter. ProShare Advisors LLC now owns 15,893 shares of the industrial products company's stock worth $290,000 after buying an additional 4,896 shares during the period. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen lowered shares of Century Aluminum from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Zacks Research upgraded shares of Century Aluminum from a "hold" rating to a "strong-buy" rating in a report on Monday, August 18th. BMO Capital Markets restated an "outperform" rating on shares of Century Aluminum in a report on Friday, August 8th. Finally, B. Riley raised their price objective on shares of Century Aluminum from $25.00 to $28.00 and gave the stock a "buy" rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, Century Aluminum currently has an average rating of "Buy" and an average price target of $25.67.

Century Aluminum Stock Up 8.8%

Shares of NASDAQ CENX traded up $1.98 on Thursday, reaching $24.35. 1,477,074 shares of the company's stock traded hands, compared to its average volume of 1,648,688. Century Aluminum Company has a 12 month low of $12.90 and a 12 month high of $25.39. The business's 50 day simple moving average is $21.58 and its two-hundred day simple moving average is $18.90. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 20.89 and a beta of 2.55. The company has a quick ratio of 0.61, a current ratio of 1.75 and a debt-to-equity ratio of 0.66.

Century Aluminum (NASDAQ:CENX - Get Free Report) last announced its earnings results on Thursday, August 7th. The industrial products company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.39). Century Aluminum had a net margin of 4.94% and a return on equity of 18.02%. The business had revenue of $628.10 million for the quarter, compared to the consensus estimate of $606.10 million. As a group, equities research analysts forecast that Century Aluminum Company will post 2.76 EPS for the current fiscal year.

Insider Buying and Selling at Century Aluminum

In related news, SVP Matt Aboud sold 12,027 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $23.27, for a total transaction of $279,868.29. Following the completion of the sale, the senior vice president owned 62,589 shares of the company's stock, valued at $1,456,446.03. This trade represents a 16.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.76% 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.