Century Aluminum (NASDAQ:CENX) Hits New 1-Year High – Time to Buy?
by Teresa Graham · The Cerbat GemCentury Aluminum Company (NASDAQ:CENX – Get Free Report) shares hit a new 52-week high on Thursday . The company traded as high as $68.70 and last traded at $67.9250, with a volume of 1503930 shares changing hands. The stock had previously closed at $65.72.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on CENX. Wells Fargo & Company raised their price objective on shares of Century Aluminum from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Zacks Research upgraded shares of Century Aluminum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Wall Street Zen raised Century Aluminum from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. BMO Capital Markets set a $75.00 price target on Century Aluminum and gave the company an “outperform” rating in a report on Thursday, April 9th. Finally, Weiss Ratings raised Century Aluminum from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $80.00.
View Our Latest Research Report on Century Aluminum
Century Aluminum Price Performance
The company’s 50 day moving average is $60.01 and its 200 day moving average is $48.39. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 20.17 and a beta of 1.91.
Insider Buying and Selling
In related news, SVP Matt Aboud sold 2,971 shares of Century Aluminum stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $52.67, for a total transaction of $156,482.57. Following the sale, the senior vice president directly owned 64,843 shares in the company, valued at $3,415,280.81. This trade represents a 4.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jesse E. Gary sold 150,000 shares of Century Aluminum stock in a transaction on Monday, March 16th. The stock was sold at an average price of $55.47, for a total transaction of $8,320,500.00. Following the sale, the chief executive officer owned 142,580 shares in the company, valued at $7,908,912.60. This represents a 51.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 185,626 shares of company stock worth $10,271,891 in the last ninety days. 0.84% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Century Aluminum
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Lido Advisors LLC raised its stake in Century Aluminum by 1.4% during the 1st quarter. Lido Advisors LLC now owns 13,091 shares of the industrial products company’s stock worth $768,000 after acquiring an additional 180 shares in the last quarter. Summit Global Investments grew its position in Century Aluminum by 3.2% during the 1st quarter. Summit Global Investments now owns 7,866 shares of the industrial products company’s stock worth $462,000 after purchasing an additional 241 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Century Aluminum by 26.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,419 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 297 shares during the last quarter. ProShare Advisors LLC grew its position in Century Aluminum by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 10,269 shares of the industrial products company’s stock worth $402,000 after purchasing an additional 308 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Century Aluminum by 48.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,185 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 386 shares during the last quarter. 61.59% of the stock is currently owned by institutional investors and hedge funds.
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.