OP Asset Management Ltd Makes New Investment in Century Aluminum Company $CENX

OP Asset Management Ltd bought a new position in shares of Century Aluminum Company (NASDAQ:CENX) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 17,683 shares of the industrial products company’s stock, valued at approximately $1,038,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Glencore plc raised its position in shares of Century Aluminum by 33.6% in the 4th 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 period. Sourcerock Group LLC grew its holdings in Century Aluminum by 612.0% during the second quarter. Sourcerock Group LLC now owns 1,424,088 shares of the industrial products company’s stock valued at $25,662,000 after purchasing an additional 1,224,088 shares during the period. Vanguard Group Inc. grew its holdings in Century Aluminum by 18.7% during 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 purchasing an additional 1,094,257 shares during the period. Assenagon Asset Management S.A. increased its stake 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 purchasing an additional 957,571 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Century Aluminum by 392.3% in the third quarter. American Century Companies Inc. now owns 767,692 shares of the industrial products company’s stock valued at $22,539,000 after purchasing an additional 611,758 shares in the last quarter. 61.59% of the stock is owned by institutional investors.

Century Aluminum Price Performance

NASDAQ CENX opened at $46.55 on Tuesday. The business has a 50 day simple moving average of $59.30 and a 200 day simple moving average of $52.88. Century Aluminum Company has a 52-week low of $17.22 and a 52-week high of $70.43. 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 stock has a market cap of $4.61 billion, a price-to-earnings ratio of 13.90 and a beta of 1.90.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CENX. B. Riley Financial lifted their price target on shares of Century Aluminum from $68.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. BMO Capital Markets set a $75.00 price objective on shares of Century Aluminum and gave the company an “outperform” rating in a research report on Thursday, April 9th. Zacks Research cut shares of Century Aluminum from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Wall Street Zen raised Century Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings upgraded Century Aluminum from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 15th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Century Aluminum currently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Century Aluminum 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.