Century Aluminum (NASDAQ:CENX) Hits New 52-Week High – Here’s Why

Century Aluminum Company (NASDAQ:CENX) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $45.74 and last traded at $45.3920, with a volume of 506303 shares changing hands. The stock had previously closed at $43.24.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CENX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Century Aluminum in a research report on Wednesday, October 8th. Zacks Research raised Century Aluminum from a “hold” rating to a “strong-buy” rating in a research report on Monday. BMO Capital Markets raised their price target on shares of Century Aluminum from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Century Aluminum from $37.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 23rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Century Aluminum presently has an average rating of “Buy” and an average price target of $36.00.

Century Aluminum Trading Up 4.5%

The company has a market cap of $4.22 billion, a P/E ratio of 53.13 and a beta of 2.26. The company has a current ratio of 1.71, a quick ratio of 0.79 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average price of $32.93 and a 200-day moving average price of $27.22.

Century Aluminum (NASDAQ:CENX) last issued its earnings results on Thursday, November 6th. The industrial products company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.23). The firm had revenue of $632.20 million for the quarter, compared to analyst estimates of $629.85 million. Century Aluminum had a return on equity of 12.83% and a net margin of 3.47%.Century Aluminum’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share. Analysts forecast that Century Aluminum Company will post 2.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Century Aluminum

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its stake in Century Aluminum by 1,291.8% in the second quarter. Farther Finance Advisors LLC now owns 1,364 shares of the industrial products company’s stock valued at $25,000 after buying an additional 1,266 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of Century Aluminum during the 1st quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its stake in Century Aluminum by 253.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 1,306 shares during the period. Advisory Services Network LLC acquired a new stake in Century Aluminum during the 3rd quarter valued at $34,000. Finally, CWM LLC lifted its holdings in Century Aluminum by 26.3% during the 3rd quarter. CWM LLC now owns 1,592 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 332 shares during the last quarter. Institutional investors own 61.59% of the company’s stock.

Century Aluminum Company Profile

Century Aluminum Company is a primary aluminum producer that develops and operates smelters designed to supply low-carbon, high-purity aluminum products to a range of industrial and commercial markets. Established in 1995, the company has grown to become a significant North American aluminum producer with an expanding international footprint. Century Aluminum is headquartered in the United States and is focused on energy-efficient operations and cost management.

The company’s core operations include three primary aluminum smelting facilities located in Hawesville, Kentucky; Mount Holly, South Carolina; and Grundartangi, Iceland.