Glencore plc Has $1.74 Billion Position in Century Aluminum Company $CENX

Glencore plc reduced its holdings in Century Aluminum Company (NASDAQ:CENX) by 17.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,690,702 shares of the industrial products company’s stock after selling 6,315,245 shares during the quarter. Century Aluminum accounts for 29.5% of Glencore plc’s portfolio, making the stock its 2nd largest position. Glencore plc owned about 30.00% of Century Aluminum worth $1,742,547,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CENX. Jones Financial Companies Lllp bought a new position in shares of Century Aluminum in the first quarter worth $25,000. Private Trust Co. NA bought a new stake in shares of Century Aluminum during the fourth quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its stake in shares of Century Aluminum by 253.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 1,306 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Century Aluminum in the third quarter worth about $34,000. Finally, Transamerica Financial Advisors LLC bought a new position in Century Aluminum in the 4th quarter valued at about $40,000. Institutional investors own 61.59% of the company’s stock.

Century Aluminum Price Performance

NASDAQ:CENX opened at $43.76 on Friday. The business’s 50-day moving average price is $58.26 and its 200 day moving average price is $53.15. The firm has a market cap of $4.33 billion, a P/E ratio of 13.06 and a beta of 1.97. Century Aluminum Company has a 52-week low of $18.00 and a 52-week high of $70.43. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.37.

Wall Street Analyst Weigh In

Several research firms have commented on CENX. Weiss Ratings cut shares of Century Aluminum from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Wells Fargo & Company upped their price target on shares of Century Aluminum from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Zacks Research cut shares of Century Aluminum from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. B. Riley Financial raised their price objective on shares of Century Aluminum from $68.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Finally, BMO Capital Markets set a $75.00 target price on Century Aluminum and gave the stock an “outperform” rating in a report on Thursday, April 9th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock 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.