Barclays Has Lowered Expectations for Century Aluminum (NASDAQ:CENX) Stock Price

Century Aluminum (NASDAQ:CENX) had its price objective lowered by analysts at Barclays from $40.00 to $39.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s price target would suggest a potential upside of 9.13% from the stock’s previous close.

CENX has been the topic of a number of other reports. Weiss Ratings restated a “hold (c+)” rating on shares of Century Aluminum in a research report on Monday, October 19th. Wall Street Zen lowered shares of Century Aluminum from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 20th. B. Riley Financial lowered their price objective on shares of Century Aluminum from $72.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, November 3rd. UBS Group dropped their price objective on shares of Century Aluminum from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Finally, Wells Fargo & Company cut their target price on shares of Century Aluminum from $79.00 to $71.00 and set an “overweight” rating on the stock in a report on Friday. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.80.

Century Aluminum Stock Performance

CENX traded up $2.27 during trading hours on Monday, hitting $35.74. 496,887 shares of the stock were exchanged, compared to its average volume of 2,115,891. The stock has a 50-day simple moving average of $37.87 and a 200-day simple moving average of $49.41. Century Aluminum has a 12 month low of $25.40 and a 12 month high of $70.43. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 4.17 and a beta of 2.17. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.45 and a quick ratio of 2.23.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings data on Thursday, November 5th. The industrial products company reported $2.58 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.09). Century Aluminum had a return on equity of 47.45% and a net margin of 29.74%. The business had revenue of $961.20 million during the quarter, compared to analyst estimates of $951.71 million. During the same period in the prior year, the firm earned $0.56 EPS. The business’s revenue for the quarter was up 52.0% compared to the same quarter last year. Analysts anticipate that Century Aluminum will post 7.64 earnings per share for the current year.

Institutional Trading of Century Aluminum

A number of large investors have recently modified their holdings of CENX. BlackRock Inc. acquired a new position in Century Aluminum during the 2nd quarter valued at about $474,129,000. Encompass Capital Advisors LLC grew its position in Century Aluminum by 210.4% in the 1st quarter. Encompass Capital Advisors LLC now owns 1,551,362 shares of the industrial products company’s stock worth $91,049,000 after purchasing an additional 1,051,525 shares during the last quarter. Kinetic Partners Management LP bought a new position in Century Aluminum in the 2nd quarter worth about $35,736,000. Bank of America Corp DE bought a new position in Century Aluminum in the 2nd quarter worth about $27,709,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Century Aluminum in the second quarter valued at approximately $22,369,000. Institutional investors and hedge funds own 61.59% of the company’s stock.

Century Aluminum Company Profile

Century Aluminum Company is a global producer of primary aluminum, an essential material used in transportation, construction, packaging, and other industries. Its products include standard-grade and high-purity aluminum, supplied in forms such as ingots and billets for further processing by customers.

The company operates aluminum smelting facilities in the United States and Iceland. Its activities also include producing carbon anodes, which are used in the aluminum-smelting process. Century Aluminum was established in 1995 and is headquartered in Chicago, Illinois.

Century Aluminum serves customers in North America and international markets.