Century Aluminum Company (NASDAQ:CENX) Receives $80.00 Average Target Price from Analysts

Shares of Century Aluminum Company (NASDAQ:CENX) have been given a consensus rating of “Moderate Buy” by the five ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $80.00.

CENX has been the topic of a number of recent analyst reports. Wall Street Zen raised Century Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Zacks Research lowered Century Aluminum from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Wells Fargo & Company boosted their price objective on Century Aluminum from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings raised Century Aluminum from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, May 13th. Finally, B. Riley Financial boosted their price objective on Century Aluminum from $68.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th.

Century Aluminum Price Performance

Century Aluminum stock opened at $61.19 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.36 and a current ratio of 2.30. The firm has a market cap of $6.06 billion, a P/E ratio of 18.27 and a beta of 1.90. The business’s fifty day moving average is $62.70 and its two-hundred day moving average is $51.19. Century Aluminum has a 52 week low of $16.59 and a 52 week high of $70.43.

Insider Transactions at Century Aluminum

In related news, CEO Jesse E. Gary sold 150,000 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $55.47, for a total value of $8,320,500.00. Following the transaction, the chief executive officer owned 142,580 shares in the company, valued at $7,908,912.60. This trade represents a 51.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Century Aluminum

Several hedge funds have recently added to or reduced their stakes in the company. Glencore plc boosted its holdings in Century Aluminum by 33.6% in the fourth quarter. Glencore plc now owns 53,511,894 shares of the industrial products company’s stock valued at $2,096,596,000 after acquiring an additional 13,454,538 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Century Aluminum by 18.7% in the fourth quarter. Vanguard Group Inc. now owns 6,939,794 shares of the industrial products company’s stock valued at $271,901,000 after acquiring an additional 1,094,257 shares during the last quarter. State Street Corp boosted its holdings in Century Aluminum by 1.8% in the fourth quarter. State Street Corp now owns 4,295,711 shares of the industrial products company’s stock valued at $168,306,000 after acquiring an additional 77,895 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Century Aluminum by 109.7% in the first quarter. Assenagon Asset Management S.A. now owns 1,830,324 shares of the industrial products company’s stock valued at $107,422,000 after acquiring an additional 957,571 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Century Aluminum by 12.3% in the fourth quarter. Morgan Stanley now owns 1,609,093 shares of the industrial products company’s stock valued at $63,044,000 after acquiring an additional 176,730 shares during the last quarter. Institutional investors own 61.59% of the company’s stock.

About Century Aluminum

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.