Century Aluminum (NASDAQ:CENX) Lowered to Hold Rating by Zacks Research

Zacks Research cut shares of Century Aluminum (NASDAQ:CENX) from a strong-buy rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

CENX has been the subject of a number of other research reports. Wells Fargo & Company upped their price objective on Century Aluminum from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings raised Century Aluminum from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. BMO Capital Markets set a $75.00 price objective on Century Aluminum and gave the stock an “outperform” rating in a research note on Thursday, April 9th. B. Riley Financial upped their price objective on Century Aluminum from $68.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Finally, Wall Street Zen raised Century Aluminum from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Century Aluminum presently has an average rating of “Moderate Buy” and an average price target of $80.00.

Century Aluminum Stock Performance

NASDAQ CENX opened at $60.91 on Monday. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 18.18 and a beta of 1.90. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $62.59 and a 200-day moving average price of $50.65. Century Aluminum has a twelve month low of $16.59 and a twelve month high of $70.43.

Insider Buying and Selling

In related news, CEO Jesse E. Gary sold 150,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 142,580 shares of the company’s stock, valued at approximately $7,908,912.60. This represents a 51.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Century Aluminum

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lido Advisors LLC boosted its stake in Century Aluminum by 1.4% during the first quarter. Lido Advisors LLC now owns 13,091 shares of the industrial products company’s stock valued at $768,000 after buying an additional 180 shares during the last quarter. Summit Global Investments boosted its stake in Century Aluminum by 3.2% during the first quarter. Summit Global Investments now owns 7,866 shares of the industrial products company’s stock valued at $462,000 after buying an additional 241 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Century Aluminum by 26.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,419 shares of the industrial products company’s stock valued at $83,000 after buying an additional 297 shares during the last quarter. ProShare Advisors LLC boosted its stake in Century Aluminum by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 10,269 shares of the industrial products company’s stock valued at $402,000 after buying an additional 308 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Century Aluminum by 48.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,185 shares of the industrial products company’s stock valued at $47,000 after buying an additional 386 shares during the last quarter. 61.59% of the stock is owned by 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.