B. Riley Boosts Century Aluminum (NASDAQ:CENX) Price Target to $24.00

Century Aluminum (NASDAQ:CENX) had its target price upped by B. Riley from $22.00 to $24.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. B. Riley’s price target would indicate a potential upside of 9.19% from the company’s previous close.

Several other research firms have also commented on CENX. BMO Capital Markets lowered their price target on shares of Century Aluminum from $17.00 to $15.00 and set a “market perform” rating for the company in a research report on Friday, August 9th. StockNews.com lowered shares of Century Aluminum from a “hold” rating to a “sell” rating in a research note on Friday, November 1st.

Century Aluminum Stock Performance

Shares of CENX stock opened at $21.98 on Tuesday. The company has a market cap of $2.04 billion, a P/E ratio of 7.35 and a beta of 2.47. The business has a 50 day moving average of $15.67 and a two-hundred day moving average of $16.21. Century Aluminum has a 52 week low of $6.25 and a 52 week high of $22.66. The company has a quick ratio of 0.63, a current ratio of 1.72 and a debt-to-equity ratio of 0.77.

Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.31. The business had revenue of $539.10 million for the quarter, compared to the consensus estimate of $587.10 million. Century Aluminum had a negative return on equity of 0.04% and a net margin of 10.32%. During the same quarter last year, the business posted ($0.13) EPS. As a group, analysts anticipate that Century Aluminum will post 0.07 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Encompass Capital Advisors LLC raised its stake in shares of Century Aluminum by 1,208.7% during the second quarter. Encompass Capital Advisors LLC now owns 1,401,638 shares of the industrial products company’s stock valued at $23,477,000 after purchasing an additional 1,294,538 shares in the last quarter. Castle Hook Partners LP raised its position in shares of Century Aluminum by 1,147.0% during the 1st quarter. Castle Hook Partners LP now owns 976,894 shares of the industrial products company’s stock worth $15,034,000 after buying an additional 898,554 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Century Aluminum by 341.1% in the 2nd quarter. Bank of Montreal Can now owns 411,968 shares of the industrial products company’s stock worth $6,900,000 after acquiring an additional 318,579 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Century Aluminum by 125.7% in the second quarter. Assenagon Asset Management S.A. now owns 531,679 shares of the industrial products company’s stock valued at $8,906,000 after acquiring an additional 296,101 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Century Aluminum by 30.4% during the second quarter. American Century Companies Inc. now owns 1,186,243 shares of the industrial products company’s stock valued at $19,870,000 after acquiring an additional 276,304 shares during the period. Institutional investors and hedge funds own 61.59% of the company’s stock.

About Century Aluminum

Century Aluminum Company, together with its subsidiaries, engages in the production of standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates an alumina production facility in Iceland, and a carbon anode production facility in the Netherlands.