Century Aluminum (NASDAQ:CENX) Price Target Raised to $86.00 at B. Riley Financial

Century Aluminum (NASDAQ:CENX) had its target price lifted by B. Riley Financial from $68.00 to $86.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. B. Riley Financial’s target price would suggest a potential upside of 29.23% from the stock’s previous close.

Several other research firms have also recently commented on CENX. Wells Fargo & Company raised their target price on shares of Century Aluminum from $61.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Weiss Ratings restated a “hold (c)” rating on shares of Century Aluminum in a research note on Wednesday, January 21st. Wall Street Zen raised Century Aluminum from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Zacks Research upgraded shares of Century Aluminum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $63.00.

Century Aluminum Trading Up 3.1%

CENX traded up $2.01 during midday trading on Tuesday, reaching $66.55. 1,072,085 shares of the company’s stock traded hands, compared to its average volume of 2,469,515. Century Aluminum has a 52 week low of $13.05 and a 52 week high of $67.63. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 0.98. The firm has a fifty day moving average of $52.47 and a two-hundred day moving average of $40.38. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of 166.16 and a beta of 1.99.

Century Aluminum (NASDAQ:CENX) last posted its earnings results on Thursday, February 19th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.25. Century Aluminum had a return on equity of 5.57% and a net margin of 1.65%.The firm had revenue of $633.70 million for the quarter, compared to analysts’ expectations of $661.63 million. During the same period in the previous year, the firm earned $0.49 earnings per share. The business’s revenue was up .4% compared to the same quarter last year. On average, equities analysts anticipate that Century Aluminum will post 2.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Century Aluminum news, CAO Robert F. Hoffman sold 10,529 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $56.51, for a total value of $594,993.79. Following the sale, the chief accounting officer directly owned 56,643 shares of the company’s stock, valued at approximately $3,200,895.93. The trade was a 15.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Matt Aboud sold 12,126 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $52.50, for a total value of $636,615.00. Following the transaction, the senior vice president owned 67,814 shares of the company’s stock, valued at $3,560,235. The trade was a 15.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 401,626 shares of company stock worth $20,847,911 over the last three months. 0.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Century Aluminum

A number of hedge funds have recently added to or reduced their stakes in CENX. AQR Capital Management LLC boosted its stake in Century Aluminum by 22.1% during the 1st quarter. AQR Capital Management LLC now owns 39,001 shares of the industrial products company’s stock valued at $724,000 after purchasing an additional 7,051 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of Century Aluminum during the first quarter valued at $25,000. Empowered Funds LLC boosted its position in shares of Century Aluminum by 1.8% during the first quarter. Empowered Funds LLC now owns 59,186 shares of the industrial products company’s stock valued at $1,098,000 after buying an additional 1,069 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Century Aluminum by 21.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 124,001 shares of the industrial products company’s stock worth $2,301,000 after buying an additional 21,702 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Century Aluminum by 7.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 147,046 shares of the industrial products company’s stock worth $2,650,000 after buying an additional 9,721 shares during the last quarter. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

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.