Century Aluminum (NASDAQ:CENX) Price Target Lowered to $74.00 at B. Riley Financial

Century Aluminum (NASDAQ:CENX) had its price objective decreased by research analysts at B. Riley Financial from $86.00 to $74.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. B. Riley Financial’s target price suggests a potential upside of 58.53% from the stock’s current price.

Other analysts also recently issued reports about the company. Wells Fargo & Company increased their price target on Century Aluminum from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. BMO Capital Markets set a $75.00 price objective on Century Aluminum and gave the company an “outperform” rating in a research note on Thursday, April 9th. Zacks Research lowered Century Aluminum from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Weiss Ratings cut Century Aluminum from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. Finally, Wall Street Zen downgraded Century Aluminum from a “strong-buy” rating to a “buy” rating in a report on Saturday. Four equities research 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.00.

Century Aluminum Stock Performance

NASDAQ CENX opened at $46.68 on Tuesday. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 13.93 and a beta of 1.96. Century Aluminum has a twelve month low of $18.00 and a twelve month high of $70.43. The stock has a fifty day simple moving average of $57.61 and a 200 day simple moving average of $53.34. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.37.

Institutional Trading of Century Aluminum

Several hedge funds have recently made changes to their positions in the company. Glencore plc lifted its stake in shares of Century Aluminum by 33.6% during 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 buying an additional 13,454,538 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Century Aluminum by 18.7% during the 4th quarter. Vanguard Group Inc. now owns 6,939,794 shares of the industrial products company’s stock worth $271,901,000 after purchasing an additional 1,094,257 shares in the last quarter. State Street Corp boosted its stake in Century Aluminum by 1.8% in the 4th quarter. State Street Corp now owns 4,295,711 shares of the industrial products company’s stock worth $168,306,000 after purchasing an additional 77,895 shares during the period. Assenagon Asset Management S.A. boosted its stake in Century Aluminum by 109.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,830,324 shares of the industrial products company’s stock worth $107,422,000 after purchasing an additional 957,571 shares during the period. Finally, Morgan Stanley grew its holdings in Century Aluminum by 12.3% during the 4th quarter. Morgan Stanley now owns 1,609,093 shares of the industrial products company’s stock valued at $63,044,000 after buying an additional 176,730 shares in the last quarter. 61.59% of the stock is currently owned by institutional investors.

Century Aluminum Company 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.