Wells Fargo & Company Cuts Century Aluminum (NASDAQ:CENX) Price Target to $79.00

Century Aluminum (NASDAQ:CENX) had its price objective trimmed by Wells Fargo & Company from $83.00 to $79.00 in a research report report published on Friday morning, MarketBeat reports. The firm currently has an overweight rating on the industrial products company’s stock.

Several other research firms have also recently commented on CENX. B. Riley Financial reiterated a “buy” rating on shares of Century Aluminum in a research note on Tuesday, August 18th. Zacks Research lowered Century Aluminum from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Weiss Ratings lowered Century Aluminum from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded Century Aluminum from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 12th. Finally, UBS Group began coverage on Century Aluminum in a research report on Monday, August 10th. They issued a “buy” rating and a $60.00 target price on the stock. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Century Aluminum currently has an average rating of “Moderate Buy” and an average price target of $72.00.

Century Aluminum Stock Performance

Century Aluminum stock opened at $39.01 on Friday. Century Aluminum has a 12-month low of $25.40 and a 12-month high of $70.43. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 6.74 and a beta of 1.99. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.75 and a quick ratio of 1.61. The firm’s fifty day moving average price is $45.23 and its 200 day moving average price is $52.99.

Century Aluminum (NASDAQ:CENX) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.13. The firm had revenue of $752.10 million for the quarter, compared to analyst estimates of $817.15 million. Century Aluminum had a net margin of 22.63% and a return on equity of 33.83%. The company’s quarterly revenue was up 59.0% compared to the same quarter last year. On average, research analysts forecast that Century Aluminum will post 7.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Hollencrest Capital Management bought a new stake in shares of Century Aluminum in the 1st quarter valued at approximately $29,000. Summit Securities Group LLC bought a new position in Century Aluminum during the first quarter worth $42,000. Strs Ohio bought a new position in Century Aluminum during the first quarter worth $47,000. Northwestern Mutual Wealth Management Co. acquired a new position in Century Aluminum in the second quarter worth $37,000. Finally, Leonteq Securities AG acquired a new position in Century Aluminum in the first quarter worth $67,000. Institutional investors own 61.59% of the company’s stock.

About Century Aluminum

Century Aluminum Company is a producer of primary aluminum. The company operates aluminum smelters that convert alumina into aluminum metal, supplying standard-grade and value-added products used in transportation, construction, packaging, and other industrial applications.

Century Aluminum’s operations are primarily located in the United States and Iceland. Its U.S. portfolio includes facilities in Sebree, Kentucky, and Mount Holly, South Carolina, while its Icelandic operations include the Grundartangi smelter, operated through its Norðurál subsidiary.