Century Aluminum Company (CENX) Coverage Initiated at Macquarie

Macquarie started coverage on shares of Century Aluminum Company (NASDAQ:CENX) in a research note released on Thursday, MarketBeat reports. The firm issued a neutral rating on the industrial products company’s stock.

Other research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Century Aluminum from a hold rating to a buy rating and set a $18.00 price objective for the company in a report on Tuesday, July 11th. BidaskClub upgraded shares of Century Aluminum from a hold rating to a buy rating in a report on Friday, June 9th. BMO Capital Markets reiterated a hold rating and issued a $14.00 price objective on shares of Century Aluminum in a report on Sunday, July 2nd. Deutsche Bank AG upgraded shares of Century Aluminum from a sell rating to a hold rating and raised their price objective for the company from $10.00 to $15.00 in a report on Friday, June 23rd. Finally, Cowen and Company set a $16.00 price objective on shares of Century Aluminum and gave the company a hold rating in a report on Wednesday, August 2nd. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Century Aluminum presently has a consensus rating of Buy and a consensus target price of $17.20.

Shares of Century Aluminum (NASDAQ CENX) opened at 18.90 on Thursday. The firm’s market cap is $1.65 billion. Century Aluminum has a 12 month low of $5.53 and a 12 month high of $20.63. The stock’s 50 day moving average is $16.86 and its 200 day moving average is $14.75.

Century Aluminum (NASDAQ:CENX) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by $0.28. The business had revenue of $388.80 million during the quarter, compared to the consensus estimate of $398.33 million. Century Aluminum had a negative net margin of 16.48% and a negative return on equity of 5.61%. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) EPS. Analysts forecast that Century Aluminum will post $0.46 EPS for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System increased its position in Century Aluminum by 1.5% during the 1st quarter. Louisiana State Employees Retirement System now owns 20,300 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 300 shares during the period. Texas Permanent School Fund increased its position in Century Aluminum by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 36,315 shares of the industrial products company’s stock valued at $566,000 after purchasing an additional 307 shares during the period. Municipal Employees Retirement System of Michigan increased its position in Century Aluminum by 3.3% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 11,730 shares of the industrial products company’s stock valued at $183,000 after purchasing an additional 370 shares during the period. Arizona State Retirement System increased its position in Century Aluminum by 1.6% during the 1st quarter. Arizona State Retirement System now owns 25,937 shares of the industrial products company’s stock valued at $329,000 after purchasing an additional 400 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Century Aluminum by 1.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,906 shares of the industrial products company’s stock valued at $622,000 after purchasing an additional 406 shares during the period. 67.18% of the stock is owned by institutional investors and hedge funds.

About Century Aluminum

Century Aluminum Company (Century) is a holding company, which is a producer of primary aluminum and operates aluminum reduction facilities, or smelters, in the United States and Iceland. The Company operates through primary aluminum segment. The Company’s primary aluminum facilities produce standard grade primary aluminum products.

Analyst Recommendations for Century Aluminum (NASDAQ:CENX)

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