Macquarie began coverage on shares of Century Aluminum Company (NASDAQ:CENX) in a research report issued on Thursday. The brokerage set a “neutral” rating on the industrial products company’s stock.

Several other brokerages also recently issued reports on CENX. BidaskClub downgraded Century Aluminum from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Zacks Investment Research raised Century Aluminum from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Wednesday, June 14th. Deutsche Bank AG raised Century Aluminum from a “sell” rating to a “hold” rating and increased their price objective for the stock from $10.00 to $15.00 in a research note on Friday, June 23rd. BMO Capital Markets reissued a “hold” rating and issued a $14.00 price objective on shares of Century Aluminum in a research note on Sunday, July 2nd. Finally, J P Morgan Chase & Co raised Century Aluminum from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $15.00 to $22.00 in a research note on Monday, August 21st. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $17.20.

Century Aluminum (NASDAQ:CENX) traded down 0.20% during mid-day trading on Thursday, reaching $19.56. The company’s stock had a trading volume of 737,834 shares. The firm has a 50-day moving average of $16.79 and a 200 day moving average of $14.69. The firm’s market capitalization is $1.71 billion. Century Aluminum has a 1-year low of $5.53 and a 1-year high of $20.63.

Century Aluminum (NASDAQ:CENX) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.29 by $0.28. Century Aluminum had a negative net margin of 16.48% and a negative return on equity of 5.61%. The company had revenue of $388.80 million for the quarter, compared to analysts’ expectations of $398.33 million. During the same period in the prior year, the company earned ($0.05) earnings per share. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. Equities analysts expect that Century Aluminum will post $0.46 earnings per share for the current year.

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A number of hedge funds have recently modified their holdings of CENX. Balyasny Asset Management LLC increased its position in Century Aluminum by 742.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 3,027,819 shares of the industrial products company’s stock worth $47,173,000 after purchasing an additional 2,668,550 shares during the last quarter. JPMorgan Chase & Co. increased its position in Century Aluminum by 4,279.7% in the 1st quarter. JPMorgan Chase & Co. now owns 1,610,095 shares of the industrial products company’s stock worth $20,432,000 after purchasing an additional 1,573,332 shares during the last quarter. Impala Asset Management LLC increased its position in Century Aluminum by 63.2% in the 2nd quarter. Impala Asset Management LLC now owns 2,797,458 shares of the industrial products company’s stock worth $43,584,000 after purchasing an additional 1,083,314 shares during the last quarter. Hood River Capital Management LLC acquired a new position in Century Aluminum in the 1st quarter worth about $12,317,000. Finally, State Street Corp increased its position in Century Aluminum by 19.9% in the 1st quarter. State Street Corp now owns 4,491,650 shares of the industrial products company’s stock worth $56,998,000 after purchasing an additional 744,622 shares during the last quarter. 67.18% of the stock is currently owned by institutional investors.

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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