Zacks Research Downgrades Century Aluminum (NASDAQ:CENX) to Strong Sell

Century Aluminum (NASDAQ:CENX) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday,Zacks.com reports.

A number of other research firms have also recently weighed in on CENX. BMO Capital Markets set a $75.00 price target on Century Aluminum and gave the stock an “outperform” rating in a report on Thursday, April 9th. Wall Street Zen cut shares of Century Aluminum from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Weiss Ratings downgraded shares of Century Aluminum from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. B. Riley Financial lowered their price target on shares of Century Aluminum from $86.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Wells Fargo & Company raised their price target 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. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Century Aluminum has an average rating of “Moderate Buy” and a consensus target price of $76.00.

Century Aluminum Price Performance

CENX stock opened at $45.11 on Wednesday. The firm has a market cap of $4.46 billion, a P/E ratio of 13.47 and a beta of 1.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.36 and a current ratio of 2.30. Century Aluminum has a 1 year low of $18.86 and a 1 year high of $70.43. The stock has a 50-day simple moving average of $56.68 and a 200-day simple moving average of $53.57.

Institutional Investors Weigh In On Century Aluminum

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lido Advisors LLC raised its position in shares of Century Aluminum by 1.4% in the 1st quarter. Lido Advisors LLC now owns 13,091 shares of the industrial products company’s stock valued at $768,000 after purchasing an additional 180 shares in the last quarter. Summit Global Investments grew its position in shares of Century Aluminum by 3.2% during the first quarter. Summit Global Investments now owns 7,866 shares of the industrial products company’s stock worth $462,000 after buying an additional 241 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of 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 worth $83,000 after buying an additional 297 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Century Aluminum by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 10,269 shares of the industrial products company’s stock worth $402,000 after buying an additional 308 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Century Aluminum by 48.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,185 shares of the industrial products company’s stock worth $47,000 after buying an additional 386 shares during the last quarter. 61.59% of the stock is currently owned by hedge funds and other 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.