Century Aluminum (NASDAQ:CENX) Shares Gap Down to $17.99

Century Aluminum (NASDAQ:CENX)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $17.99, but opened at $17.25. Century Aluminum shares last traded at $17.61, with a volume of 308,608 shares changing hands.

Analysts Set New Price Targets

Several analysts have weighed in on the company. B. Riley raised Century Aluminum from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $10.00 to $14.00 in a research report on Tuesday, January 9th. StockNews.com raised Century Aluminum from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th.

Century Aluminum Stock Down 2.8 %

The company’s fifty day moving average price is $13.30 and its 200-day moving average price is $10.52. The company has a current ratio of 1.01, a quick ratio of 0.38 and a debt-to-equity ratio of 1.25.

Century Aluminum (NASDAQ:CENX) last released its earnings results on Wednesday, February 21st. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.53. Century Aluminum had a negative net margin of 2.05% and a positive return on equity of 5.18%. The firm had revenue of $512.30 million during the quarter, compared to analyst estimates of $514.40 million. Sell-side analysts predict that Century Aluminum will post -0.16 EPS for the current year.

Hedge Funds Weigh In On Century Aluminum

Several large investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in Century Aluminum by 199.8% in the 1st quarter. GAMMA Investing LLC now owns 2,878 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 1,918 shares during the last quarter. Allworth Financial LP purchased a new position in Century Aluminum in the 4th quarter worth approximately $68,000. Strs Ohio raised its holdings in Century Aluminum by 625.0% in the 3rd quarter. Strs Ohio now owns 8,700 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 7,500 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Century Aluminum by 35.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,107 shares of the industrial products company’s stock worth $65,000 after acquiring an additional 2,405 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Century Aluminum by 34.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,309 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 2,899 shares during the last quarter. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

About Century Aluminum

Century Aluminum Company, together with its subsidiaries, engages in the production of standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates an alumina production facility in Iceland, and a carbon anode production facility in the Netherlands.