Century Aluminum (NASDAQ:CENX) Hits New 12-Month High – Should You Buy?

Century Aluminum Company (NASDAQ:CENX) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $68.70 and last traded at $67.9250, with a volume of 1503930 shares trading hands. The stock had previously closed at $65.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CENX shares. Zacks Research raised Century Aluminum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. BMO Capital Markets set a $75.00 price target on Century Aluminum and gave the company an “outperform” rating in a research note on Thursday, April 9th. Wall Street Zen upgraded Century Aluminum from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Wells Fargo & Company increased their target price on shares of Century Aluminum from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Weiss Ratings raised shares of Century Aluminum from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $80.00.

Century Aluminum Stock Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.36 and a current ratio of 2.30. The stock has a market cap of $6.53 billion, a P/E ratio of 19.69 and a beta of 1.91. The firm’s 50 day moving average is $60.45 and its 200 day moving average is $48.76.

Insider Transactions at Century Aluminum

In related news, SVP Matt Aboud sold 12,126 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $52.50, for a total transaction of $636,615.00. Following the transaction, the senior vice president directly owned 67,814 shares of the company’s stock, valued at $3,560,235. This represents a 15.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Robert F. Hoffman sold 10,529 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $56.51, for a total value of $594,993.79. Following the completion of the sale, the chief accounting officer owned 56,643 shares of the company’s stock, valued at approximately $3,200,895.93. This trade represents a 15.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 185,626 shares of company stock valued at $10,271,891. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Century Aluminum

Several hedge funds and other institutional investors have recently modified their holdings of CENX. Jones Financial Companies Lllp acquired a new position in Century Aluminum during the 1st quarter valued at approximately $25,000. Private Trust Co. NA acquired a new position in shares of Century Aluminum in the 4th quarter valued at $28,000. Hollencrest Capital Management purchased a new position in Century Aluminum in the 1st quarter worth $29,000. EverSource Wealth Advisors LLC lifted its position in Century Aluminum by 253.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 1,306 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in Century Aluminum during the 3rd quarter valued at about $34,000. 61.59% of the stock is owned by hedge funds and other institutional investors.

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.