Wells Fargo & Company Issues Pessimistic Forecast for Century Aluminum (NASDAQ:CENX) Stock Price

Century Aluminum (NASDAQ:CENX) had its price objective lowered by investment analysts at Wells Fargo & Company from $79.00 to $71.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 112.13% from the company’s previous close.

CENX has been the subject of several other research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Century Aluminum in a research report on Monday, October 19th. B. Riley Financial decreased their price objective on Century Aluminum from $72.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, November 3rd. Zacks Research upgraded Century Aluminum from a “strong sell” rating to a “hold” rating in a research note on Monday, October 19th. Barclays initiated coverage on Century Aluminum in a report on Wednesday, October 14th. They issued an “equal weight” rating and a $40.00 target price for the company. Finally, UBS Group dropped their target price on Century Aluminum from $60.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Century Aluminum has an average rating of “Moderate Buy” and a consensus target price of $61.00.

Century Aluminum Stock Performance

NASDAQ:CENX opened at $33.47 on Friday. Century Aluminum has a 52-week low of $25.40 and a 52-week high of $70.43. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.61 and a current ratio of 2.75. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 3.92 and a beta of 2.17. The firm’s 50-day moving average is $37.87 and its 200-day moving average is $49.41.

Century Aluminum (NASDAQ:CENX) last posted its quarterly earnings results on Thursday, November 5th. The industrial products company reported $2.58 EPS for the quarter, missing the consensus estimate of $2.67 by ($0.09). The firm had revenue of $961.20 million during the quarter, compared to analyst estimates of $951.71 million. Century Aluminum had a net margin of 29.74% and a return on equity of 53.12%. The company’s revenue was up 52.0% on a year-over-year basis. During the same period last year, the company earned $0.56 EPS. Equities research analysts anticipate that Century Aluminum will post 7.64 earnings per share for the current year.

Institutional Investors Weigh In On Century Aluminum

Several large investors have recently made changes to their positions in CENX. Hollencrest Capital Management bought a new position in Century Aluminum during the 1st quarter valued at about $29,000. Summit Securities Group LLC bought a new stake in Century Aluminum during the first quarter worth about $42,000. Strs Ohio bought a new stake in Century Aluminum during the first quarter worth about $47,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Century Aluminum during the second quarter worth approximately $37,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Century Aluminum during the second quarter worth approximately $63,000. Institutional investors own 61.59% of the company’s stock.

Century Aluminum News Summary

Here are the key news stories impacting Century Aluminum this week:

• Positive Sentiment: Shipments rose about 33% sequentially to 173,483 tonnes, aided by the restart of the company’s Iceland smelter. Revenue increased 52% year over year to $961.2 million, while reported diluted EPS was $2.89, up from $0.56 a year earlier. Century Aluminum Q3 results
• Positive Sentiment: Quarterly revenue exceeded analyst estimates, and the production recovery could support further sales growth if operating conditions remain favorable. Iceland smelter restart and Q3 performance
• Neutral Sentiment: Wells Fargo lowered its price target from $79 to $71 but kept an Overweight rating, indicating continued optimism despite a more cautious valuation. Wells Fargo rating and target
• Negative Sentiment: Adjusted EPS was $2.58, below the cited analyst consensus of $2.67. Reports attributed pressure to power and operating costs, tempering the strong shipment and revenue figures. Q3 results and cost pressures

Century Aluminum Company Profile

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, aerospace, and other industrial applications.

Century Aluminum’s operations are located in the United States and Iceland. Its U.S. facilities include the Sebree smelter in Kentucky and the Mt. Holly smelter in South Carolina, while its Icelandic operations are based at the Grundartangi aluminum smelter.