Wolfe Research Upgrades Century Aluminum (NASDAQ:CENX) to Outperform

Century Aluminum (NASDAQ:CENX) was upgraded by equities research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Tuesday,Briefing.com Automated Import reports. The brokerage currently has a $27.00 target price on the industrial products company’s stock. Wolfe Research’s price target suggests a potential upside of 19.05% from the company’s previous close.

A number of other research analysts have also commented on CENX. B. Riley upped their price objective on Century Aluminum from $22.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. StockNews.com upgraded shares of Century Aluminum from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, BMO Capital Markets lifted their price objective on Century Aluminum from $16.00 to $18.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th.

Century Aluminum Stock Performance

CENX opened at $22.68 on Tuesday. The stock has a market cap of $2.10 billion, a P/E ratio of 7.59 and a beta of 2.50. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 0.56. Century Aluminum has a 1-year low of $7.28 and a 1-year high of $24.21. The stock’s 50 day simple moving average is $18.85 and its 200 day simple moving average is $16.85.

Century Aluminum (NASDAQ:CENX) last issued its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $587.10 million. During the same period in the prior year, the business posted ($0.13) EPS. As a group, equities analysts anticipate that Century Aluminum will post 0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Century Aluminum

A number of hedge funds and other institutional investors have recently made changes to their positions in CENX. Price T Rowe Associates Inc. MD lifted its position in shares of Century Aluminum by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,013 shares of the industrial products company’s stock valued at $524,000 after acquiring an additional 2,045 shares during the period. Cetera Advisors LLC acquired a new stake in Century Aluminum in the 1st quarter valued at approximately $521,000. Assenagon Asset Management S.A. boosted its stake in shares of Century Aluminum by 125.7% during the second quarter. Assenagon Asset Management S.A. now owns 531,679 shares of the industrial products company’s stock worth $8,906,000 after buying an additional 296,101 shares during the period. Bank of New York Mellon Corp increased its holdings in Century Aluminum by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 366,804 shares of the industrial products company’s stock valued at $6,144,000 after buying an additional 1,641 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Century Aluminum by 43.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,242 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 4,598 shares during the last quarter. 61.59% of the stock is owned by institutional investors.

About Century Aluminum

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.