Century Aluminum (CENX) Shares Gap Up to $8.84

Century Aluminum Co (NASDAQ:CENX) gapped up prior to trading on Friday . The stock had previously closed at $9.45, but opened at $8.84. Century Aluminum shares last traded at $9.48, with a volume of 106922 shares trading hands.

CENX has been the topic of a number of recent analyst reports. Deutsche Bank downgraded shares of Century Aluminum from a “buy” rating to a “hold” rating and lowered their target price for the company from $20.00 to $15.00 in a research note on Tuesday, October 2nd. Berenberg Bank initiated coverage on shares of Century Aluminum in a research note on Friday, September 21st. They issued a “sell” rating and a $10.00 target price on the stock. ValuEngine raised shares of Century Aluminum from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 17th. BMO Capital Markets lowered their target price on shares of Century Aluminum from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Finally, BidaskClub downgraded shares of Century Aluminum from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 9th. Three analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Century Aluminum currently has an average rating of “Hold” and an average target price of $15.63.

The company has a market capitalization of $852.36 million, a P/E ratio of 17.38 and a beta of 1.17. The company has a current ratio of 2.56, a quick ratio of 0.87 and a debt-to-equity ratio of 0.30.

Century Aluminum (NASDAQ:CENX) last posted its quarterly earnings results on Thursday, October 25th. The industrial products company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $481.80 million for the quarter, compared to the consensus estimate of $469.09 million. Century Aluminum had a net margin of 1.80% and a return on equity of 6.51%. As a group, analysts anticipate that Century Aluminum Co will post -0.2 EPS for the current fiscal year.

In other Century Aluminum news, Director Jarl Berntzen purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, October 30th. The shares were purchased at an average cost of $7.80 per share, with a total value of $78,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.59% of the company’s stock.

Several hedge funds have recently bought and sold shares of CENX. United Services Automobile Association purchased a new position in shares of Century Aluminum during the second quarter worth approximately $159,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Century Aluminum during the second quarter worth approximately $166,000. Engineers Gate Manager LP purchased a new position in shares of Century Aluminum during the second quarter worth approximately $197,000. CIBC World Markets Inc. purchased a new position in shares of Century Aluminum during the first quarter worth approximately $200,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Century Aluminum by 497.6% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,550 shares of the industrial products company’s stock worth $207,000 after acquiring an additional 10,450 shares in the last quarter. 55.99% of the stock is currently owned by hedge funds and other institutional investors.

About Century Aluminum (NASDAQ:CENX)

Century Aluminum Company, together with its subsidiaries, produces standard-grade and value-added primary aluminum in the United States and Iceland. The company was founded in 1995 and is headquartered in Chicago, Illinois.

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