Century Aluminum (NASDAQ:CENX) Rating Lowered to “Sell” at StockNews.com

Century Aluminum (NASDAQ:CENX) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.

CENX has been the topic of several other research reports. B. Riley cut their price target on Century Aluminum from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. BMO Capital Markets reduced their price target on shares of Century Aluminum from $17.00 to $15.00 and set a “market perform” rating for the company in a research report on Friday, August 9th.

Century Aluminum Stock Down 2.4 %

Shares of NASDAQ:CENX traded down $0.43 on Friday, hitting $17.22. 1,023,673 shares of the company’s stock were exchanged, compared to its average volume of 1,321,068. Century Aluminum has a 1-year low of $6.25 and a 1-year high of $21.37. The company has a market capitalization of $1.60 billion, a PE ratio of 8.28 and a beta of 2.48. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 1.72. The firm’s 50-day moving average is $15.51 and its 200 day moving average is $16.20.

Century Aluminum (NASDAQ:CENX) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.05). Century Aluminum had a negative return on equity of 0.04% and a net margin of 10.32%. The company had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $530.90 million. Sell-side analysts predict that Century Aluminum will post 0.07 EPS for the current year.

Institutional Investors Weigh In On Century Aluminum

Several hedge funds have recently modified their holdings of CENX. Covestor Ltd raised its stake in shares of Century Aluminum by 13,746.2% in the 1st quarter. Covestor Ltd now owns 1,800 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 1,787 shares during the period. Quest Partners LLC increased its holdings in shares of Century Aluminum by 104.1% in the 2nd quarter. Quest Partners LLC now owns 2,716 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 1,385 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Century Aluminum by 39.6% in the 3rd quarter. GAMMA Investing LLC now owns 4,347 shares of the industrial products company’s stock worth $71,000 after buying an additional 1,233 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Century Aluminum by 7,779.8% during the first quarter. Russell Investments Group Ltd. now owns 7,013 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 6,924 shares during the period. Finally, Capstone Investment Advisors LLC bought a new stake in Century Aluminum in the first quarter valued at $161,000. 61.59% of the stock is owned by institutional investors and hedge funds.

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.