Century Aluminum (NASDAQ:CENX) Hits New 12-Month High – Here’s Why

Century Aluminum (NASDAQ:CENX)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $25.39 and last traded at $23.94, with a volume of 1516966 shares traded. The stock had previously closed at $22.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. B. Riley increased their target price on shares of Century Aluminum from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. StockNews.com upgraded shares of Century Aluminum from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Wolfe Research upgraded shares of Century Aluminum from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a research report on Tuesday. Finally, BMO Capital Markets raised their price objective on shares of Century Aluminum from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th.

Century Aluminum Stock Up 5.6 %

The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.56 and a current ratio of 1.71. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 7.59 and a beta of 2.50. The firm’s 50-day simple moving average is $19.01 and its two-hundred day simple moving average is $16.89.

Century Aluminum (NASDAQ:CENX) last issued its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.32 by $0.31. Century Aluminum had a net margin of 14.60% and a return on equity of 11.37%. The company had revenue of $539.10 million during the quarter, compared to analysts’ expectations of $587.10 million. During the same quarter in the previous year, the company earned ($0.13) EPS. On average, sell-side analysts expect that Century Aluminum will post 0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quest Partners LLC lifted its stake in Century Aluminum by 104.1% in the second quarter. Quest Partners LLC now owns 2,716 shares of the industrial products company’s stock valued at $45,000 after buying an additional 1,385 shares in the last quarter. GAMMA Investing LLC lifted its stake in Century Aluminum by 39.6% in the third quarter. GAMMA Investing LLC now owns 4,347 shares of the industrial products company’s stock valued at $71,000 after buying an additional 1,233 shares in the last quarter. Olympiad Research LP bought a new position in Century Aluminum in the third quarter valued at approximately $180,000. Dynamic Technology Lab Private Ltd bought a new position in Century Aluminum in the third quarter valued at approximately $189,000. Finally, MQS Management LLC lifted its position in shares of Century Aluminum by 8.1% in the second quarter. MQS Management LLC now owns 11,792 shares of the industrial products company’s stock worth $198,000 after purchasing an additional 883 shares in the last quarter. Institutional investors own 61.59% 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.