Century Aluminum (CENX) Shares Gap Down to $7.18

Century Aluminum Co (NASDAQ:CENX) gapped down before the market opened on Tuesday . The stock had previously closed at $6.74, but opened at $7.18. Century Aluminum shares last traded at $7.36, with a volume of 620695 shares.

Several research firms recently issued reports on CENX. Zacks Investment Research raised shares of Century Aluminum from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Tuesday, April 16th. ValuEngine raised shares of Century Aluminum from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, BidaskClub downgraded shares of Century Aluminum from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $12.14.

The stock has a market capitalization of $637.65 million, a price-to-earnings ratio of -51.07 and a beta of 1.52. The company has a current ratio of 2.11, a quick ratio of 0.68 and a debt-to-equity ratio of 0.34.

Century Aluminum (NASDAQ:CENX) last released its earnings results on Tuesday, April 30th. The industrial products company reported ($0.70) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.71) by $0.01. The company had revenue of $490.00 million during the quarter, compared to the consensus estimate of $482.58 million. Century Aluminum had a negative net margin of 5.29% and a negative return on equity of 9.33%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.04) EPS. On average, sell-side analysts anticipate that Century Aluminum Co will post -0.89 earnings per share for the current year.

In other news, insider Michael A. Bless sold 25,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $8.96, for a total value of $224,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.59% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in Century Aluminum by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 574,103 shares of the industrial products company’s stock valued at $6,871,000 after acquiring an additional 13,803 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Century Aluminum by 8.7% in the third quarter. TIAA CREF Investment Management LLC now owns 157,507 shares of the industrial products company’s stock valued at $1,885,000 after purchasing an additional 12,594 shares during the period. Legal & General Group Plc raised its position in Century Aluminum by 5.6% in the third quarter. Legal & General Group Plc now owns 112,603 shares of the industrial products company’s stock valued at $1,328,000 after purchasing an additional 5,962 shares during the period. Morgan Stanley raised its position in Century Aluminum by 480.3% in the third quarter. Morgan Stanley now owns 727,544 shares of the industrial products company’s stock valued at $8,709,000 after purchasing an additional 602,177 shares during the period. Finally, Vanguard Group Inc. raised its position in Century Aluminum by 2.0% in the third quarter. Vanguard Group Inc. now owns 5,030,941 shares of the industrial products company’s stock valued at $60,221,000 after purchasing an additional 97,105 shares during the period. 54.98% of the stock is owned by institutional investors.

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Century Aluminum Company Profile (NASDAQ:CENX)

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

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