Century Aluminum (NASDAQ:CENX) Stock Price Up 9.1% – Here’s Why

Shares of Century Aluminum (NASDAQ:CENX) rose 9.1% on Monday . The stock traded as high as $18.86 and last traded at $18.86. Approximately 476,087 shares were traded during trading, a decline of 34% from the average daily volume of 719,511 shares. The stock had previously closed at $17.29.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CENX. Wolfe Research raised Century Aluminum from a “peer perform” rating to an “outperform” rating and set a $27.00 target price for the company in a report on Tuesday, December 3rd. StockNews.com raised shares of Century Aluminum from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. 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. Finally, BMO Capital Markets lifted their price target 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 Performance

The stock has a 50 day moving average of $20.76 and a 200 day moving average of $17.46. The company has a quick ratio of 0.56, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 6.46 and a beta of 2.53.

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

Insiders Place Their Bets

In related news, CEO Jesse E. Gary sold 29,243 shares of Century Aluminum stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $18.97, for a total transaction of $554,739.71. Following the sale, the chief executive officer now directly owns 50,753 shares of the company’s stock, valued at approximately $962,784.41. The trade was a 36.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Century Aluminum

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC raised its stake in shares of Century Aluminum by 104.1% during the second 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 holdings in Century Aluminum by 39.6% during 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 period. Olympiad Research LP bought a new stake in shares of Century Aluminum in the 3rd quarter valued at about $180,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Century Aluminum in the third quarter valued at about $189,000. Finally, MQS Management LLC raised its position in shares of Century Aluminum by 8.1% during the second quarter. MQS Management LLC now owns 11,792 shares of the industrial products company’s stock worth $198,000 after acquiring an additional 883 shares during the last quarter. Institutional investors and hedge funds 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.