Van ECK Associates Corp Takes Position in Century Aluminum Company $CENX

Key Points

• Van ECK Associates Corp initiated a position in Century Aluminum by purchasing 89,352 shares worth approximately $4.1 million, representing about 0.09% of the company. Institutional investors and hedge funds collectively own 61.59% of CENX.
• Century Aluminum reported quarterly EPS of $2.46, beating estimates of $2.33, while revenue reached $752.1 million and rose 59% year over year, though it fell short of the $817.15 million consensus forecast.
• Analyst sentiment is mixed but leans positive: CENX has a “Moderate Buy” consensus rating and an average price target of $72, compared with a recent share price of $47.51.

Van ECK Associates Corp bought a new stake in Century Aluminum Company (NASDAQ:CENX - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 89,352 shares of the industrial products company's stock, valued at approximately $4,111,000. Van ECK Associates Corp owned about 0.09% of Century Aluminum at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lido Advisors LLC grew its holdings in shares of Century Aluminum by 1.4% during the first quarter. Lido Advisors LLC now owns 13,091 shares of the industrial products company's stock worth $768,000 after purchasing an additional 180 shares during the last quarter. Summit Global Investments boosted its position in shares of Century Aluminum by 3.2% in the 1st quarter. Summit Global Investments now owns 7,866 shares of the industrial products company's stock valued at $462,000 after purchasing an additional 241 shares during the period. EverSource Wealth Advisors LLC increased its position in Century Aluminum by 26.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,419 shares of the industrial products company's stock worth $83,000 after buying an additional 297 shares during the period. ProShare Advisors LLC lifted its stake in Century Aluminum by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 10,269 shares of the industrial products company's stock valued at $402,000 after buying an additional 308 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Century Aluminum by 48.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,185 shares of the industrial products company's stock valued at $47,000 after acquiring an additional 386 shares during the period. 61.59% of the stock is currently owned by institutional investors and hedge funds.

Century Aluminum Price Performance

Shares of NASDAQ:CENX opened at $47.51 on Friday. 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 $4.70 billion, a P/E ratio of 8.21 and a beta of 1.99. Century Aluminum Company has a 52 week low of $21.48 and a 52 week high of $70.43. The company has a 50-day moving average price of $45.58 and a 200 day moving average price of $53.59.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on CENX shares. B. Riley Financial reaffirmed a "buy" rating on shares of Century Aluminum in a report on Tuesday, August 18th. Weiss Ratings downgraded shares of Century Aluminum from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, July 21st. Zacks Research lowered shares of Century Aluminum from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 8th. Wall Street Zen downgraded shares of Century Aluminum from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 4th. Finally, UBS Group began coverage on Century Aluminum in a research report on Monday, August 10th. They issued a "buy" rating and a $60.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $72.00.

About Century Aluminum

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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