250,000 Shares in Century Aluminum Company $CENX Purchased by Bornite Capital Management LP

Bornite Capital Management LP bought a new position in shares of Century Aluminum Company (NASDAQ:CENX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 250,000 shares of the industrial products company’s stock, valued at approximately $9,795,000. Century Aluminum makes up 1.0% of Bornite Capital Management LP’s holdings, making the stock its 25th biggest position. Bornite Capital Management LP owned about 0.27% of Century Aluminum as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Kestra Advisory Services LLC purchased a new position in Century Aluminum during the fourth quarter worth about $164,000. Transamerica Financial Advisors LLC purchased a new stake in Century Aluminum during the fourth quarter valued at about $40,000. Marshall Wace LLP purchased a new stake in Century Aluminum during the fourth quarter valued at about $271,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Century Aluminum by 2.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 25,690 shares of the industrial products company’s stock worth $1,007,000 after purchasing an additional 516 shares in the last quarter. Finally, ANB Bank bought a new position in shares of Century Aluminum during the 4th quarter valued at about $243,000. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on CENX shares. Zacks Research lowered Century Aluminum from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Wells Fargo & Company increased their price objective on Century Aluminum from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. B. Riley Financial increased their price objective on Century Aluminum from $68.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Weiss Ratings upgraded Century Aluminum from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen upgraded Century Aluminum from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Insiders Place Their Bets

In related news, CEO Jesse E. Gary sold 150,000 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $55.47, for a total transaction of $8,320,500.00. Following the completion of the sale, the chief executive officer directly owned 142,580 shares in the company, valued at $7,908,912.60. This represents a 51.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.84% of the stock is owned by corporate insiders.

Century Aluminum Price Performance

Shares of Century Aluminum stock opened at $61.19 on Friday. The company has a current ratio of 2.30, a quick ratio of 1.36 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $6.06 billion, a PE ratio of 18.27 and a beta of 1.90. The business’s 50-day moving average price is $62.70 and its 200-day moving average price is $51.19. Century Aluminum Company has a 12 month low of $16.59 and a 12 month high of $70.43.

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.