Wall Street Zen Downgrades Century Aluminum (NASDAQ:CENX) to Buy

Century Aluminum (NASDAQ:CENX) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company boosted their target price on Century Aluminum from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. B. Riley Financial raised their price target on Century Aluminum from $68.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. BMO Capital Markets set a $75.00 price target on shares of Century Aluminum and gave the company an “outperform” rating in a report on Thursday, April 9th. Zacks Research downgraded shares of Century Aluminum from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Weiss Ratings lowered shares of Century Aluminum from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Four 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 company has an average rating of “Moderate Buy” and a consensus target price of $80.00.

Century Aluminum Stock Performance

CENX opened at $43.76 on Friday. Century Aluminum has a one year low of $18.00 and a one year high of $70.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.30 and a quick ratio of 1.36. The business has a 50 day simple moving average of $57.87 and a two-hundred day simple moving average of $53.09. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 13.06 and a beta of 1.96.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Drummond Knight Asset Management Pty Ltd purchased a new stake in Century Aluminum during the 4th quarter valued at about $12,278,000. Glencore plc raised 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 worth $2,096,596,000 after buying an additional 13,454,538 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in Century Aluminum in the third quarter worth about $6,264,000. Insight Wealth Strategies LLC bought a new position in shares of Century Aluminum in the fourth quarter worth approximately $6,036,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Century Aluminum by 113.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 872,753 shares of the industrial products company’s stock valued at $34,194,000 after buying an additional 464,814 shares during the last quarter. Hedge funds and other 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.