Century Aluminum (NASDAQ:CENX) Stock Price Down 5.9% – Here’s What Happened

Century Aluminum (NASDAQ:CENX)’s share price dropped 5.9% during trading on Friday . The company traded as low as $22.31 and last traded at $22.50. Approximately 167,014 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 1,314,486 shares. The stock had previously closed at $23.92.

Analysts Set New Price Targets

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

Century Aluminum Stock Performance

The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 7.53 and a beta of 2.50. The firm has a fifty day simple moving average of $19.51 and a 200 day simple moving average of $17.03. 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 (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. The company had revenue of $539.10 million during the quarter, compared to analyst estimates of $587.10 million. Century Aluminum had a net margin of 14.60% and a return on equity of 11.37%. During the same quarter in the previous year, the firm earned ($0.13) EPS. On average, analysts anticipate that Century Aluminum will post 0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Century Aluminum

Hedge funds and other institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. boosted its position in Century Aluminum by 7.9% during the third quarter. Franklin Resources Inc. now owns 30,115 shares of the industrial products company’s stock worth $524,000 after acquiring an additional 2,198 shares during the last quarter. Barclays PLC boosted its holdings in shares of Century Aluminum by 266.5% during the 3rd quarter. Barclays PLC now owns 97,396 shares of the industrial products company’s stock worth $1,581,000 after purchasing an additional 70,825 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Century Aluminum by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,279,772 shares of the industrial products company’s stock valued at $20,774,000 after purchasing an additional 13,486 shares in the last quarter. Impala Asset Management LLC increased its holdings in shares of Century Aluminum by 6.4% in the third quarter. Impala Asset Management LLC now owns 904,000 shares of the industrial products company’s stock valued at $14,672,000 after purchasing an additional 54,000 shares during the last quarter. Finally, Yaupon Capital Management LP lifted its position in Century Aluminum by 401.5% during the third quarter. Yaupon Capital Management LP now owns 322,024 shares of the industrial products company’s stock worth $5,226,000 after buying an additional 257,812 shares in the last quarter. Hedge funds and other 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.