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

StockNews.com cut shares of Century Aluminum (NASDAQ:CENX) from a hold rating to a sell rating in a research report report published on Friday.

Other analysts have also recently issued reports about the company. BMO Capital Markets cut their price objective on Century Aluminum from $17.00 to $15.00 and set a “market perform” rating on the stock in a research report on Friday, August 9th. B. Riley cut their price objective 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.

Century Aluminum Trading Down 2.4 %

Shares of NASDAQ CENX traded down $0.43 during trading hours on Friday, hitting $17.22. The company’s stock had a trading volume of 1,024,113 shares, compared to its average volume of 1,321,068. 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 stock has a market cap of $1.60 billion, a price-to-earnings ratio of 8.28 and a beta of 2.48. Century Aluminum has a 12 month low of $6.25 and a 12 month high of $21.37. The business has a 50-day simple moving average of $15.51 and a 200-day simple moving average of $16.20.

Century Aluminum (NASDAQ:CENX) last posted 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). The firm had revenue of $560.80 million for the quarter, compared to the consensus estimate of $530.90 million. Century Aluminum had a net margin of 10.32% and a negative return on equity of 0.04%. On average, analysts anticipate that Century Aluminum will post 0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Century Aluminum

Large investors have recently made changes to their positions in the business. GSA Capital Partners LLP lifted its holdings in shares of Century Aluminum by 314.4% during the first quarter. GSA Capital Partners LLP now owns 109,004 shares of the industrial products company’s stock valued at $1,678,000 after purchasing an additional 82,703 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Century Aluminum during the first quarter valued at approximately $601,000. BNP Paribas Financial Markets lifted its holdings in shares of Century Aluminum by 43.4% during the first quarter. BNP Paribas Financial Markets now owns 230,860 shares of the industrial products company’s stock valued at $3,553,000 after purchasing an additional 69,910 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings 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 valued at $8,906,000 after purchasing an additional 296,101 shares during the last quarter. Finally, Aristeia Capital L.L.C. purchased a new position in shares of Century Aluminum during the second quarter valued at approximately $681,000. 61.59% of the stock is currently owned by hedge funds and other 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.