Century Aluminum (NASDAQ:CENX) Rating Increased to Sell at BidaskClub

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Century Aluminum (NASDAQ:CENX) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday, June 13th, BidAskClub reports.

CENX has been the topic of several other research reports. Zacks Investment Research lowered shares of Century Aluminum from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. B. Riley set a $15.00 price objective on shares of Century Aluminum and gave the company a “buy” rating in a research note on Friday, February 22nd. ValuEngine raised shares of Century Aluminum from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. TheStreet cut shares of Century Aluminum from a “c-” rating to a “d+” rating in a research note on Wednesday, May 22nd. Finally, Morgan Stanley reduced their price objective on shares of Century Aluminum from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 26th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $12.14.

Shares of CENX traded up $0.17 during trading hours on Thursday, reaching $6.83. 699,291 shares of the stock traded hands, compared to its average volume of 1,484,950. The company has a current ratio of 2.11, a quick ratio of 0.68 and a debt-to-equity ratio of 0.34. The stock has a fifty day moving average price of $6.29. Century Aluminum has a 52 week low of $5.37 and a 52 week high of $15.58. The stock has a market cap of $606.57 million, a P/E ratio of -48.79 and a beta of 1.86.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. The company had revenue of $490.00 million for the quarter, compared to analyst estimates of $482.58 million. Century Aluminum had a negative net margin of 5.29% and a negative return on equity of 9.33%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned ($0.04) earnings per share. As a group, sell-side analysts expect that Century Aluminum will post -1.08 EPS for the current year.

In related news, Director Andrew G. Michelmore purchased 5,000 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was acquired at an average price of $5.78 per share, with a total value of $28,900.00. Following the purchase, the director now directly owns 40,598 shares in the company, valued at $234,656.44. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.03% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Century Aluminum by 3.0% in the 4th quarter. BlackRock Inc. now owns 7,270,344 shares of the industrial products company’s stock worth $53,146,000 after purchasing an additional 214,032 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Century Aluminum by 2.2% in the 4th quarter. Canada Pension Plan Investment Board now owns 3,947,602 shares of the industrial products company’s stock worth $28,855,000 after purchasing an additional 84,800 shares in the last quarter. Royce & Associates LP raised its holdings in Century Aluminum by 62.9% in the 1st quarter. Royce & Associates LP now owns 753,592 shares of the industrial products company’s stock worth $6,692,000 after purchasing an additional 290,900 shares in the last quarter. Millennium Management LLC bought a new position in Century Aluminum in the 4th quarter worth $4,668,000. Finally, Bank of New York Mellon Corp raised its holdings in Century Aluminum by 9.3% in the 4th quarter. Bank of New York Mellon Corp now owns 627,332 shares of the industrial products company’s stock worth $4,586,000 after purchasing an additional 53,229 shares in the last quarter. Institutional investors and hedge funds own 53.37% of the company’s stock.

Century Aluminum Company Profile

Century Aluminum Company, together with its subsidiaries, produces standard-grade and value-added primary aluminum products in the United States and Iceland. The company was founded in 1995 and is headquartered in Chicago, Illinois.

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Analyst Recommendations for Century Aluminum (NASDAQ:CENX)

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