Century Aluminum (NASDAQ:CENX) Price Target Lowered to $79.00 at Wells Fargo & Company

Century Aluminum (NASDAQ:CENX) had its target price decreased by equities researchers at Wells Fargo & Company from $83.00 to $79.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 93.87% from the company’s current price.

Several other brokerages have also issued reports on CENX. Zacks Research lowered Century Aluminum from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. B. Riley Financial reissued a “buy” rating on shares of Century Aluminum in a research note on Tuesday, August 18th. Wall Street Zen upgraded shares of Century Aluminum from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 12th. UBS Group initiated coverage on shares of Century Aluminum in a report on Monday, August 10th. They set a “buy” rating and a $60.00 target price on the stock. Finally, Weiss Ratings cut shares of Century Aluminum from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, July 21st. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Century Aluminum presently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Century Aluminum Stock Up 2.4%

CENX opened at $40.75 on Friday. The stock has a market cap of $4.03 billion, a PE ratio of 7.04 and a beta of 1.99. The company has a quick ratio of 1.61, a current ratio of 2.75 and a debt-to-equity ratio of 0.31. Century Aluminum has a 52 week low of $25.40 and a 52 week high of $70.43. The business’s fifty day simple moving average is $45.35 and its 200 day simple moving average is $53.08.

Century Aluminum (NASDAQ:CENX) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.13. The firm had revenue of $752.10 million during the quarter, compared to analyst estimates of $817.15 million. Century Aluminum had a return on equity of 33.83% and a net margin of 22.63%.The business’s revenue for the quarter was up 59.0% on a year-over-year basis. As a group, research analysts expect that Century Aluminum will post 7.75 earnings per share for the current fiscal year.

Institutional Trading of Century Aluminum

A number of institutional investors have recently made changes to their positions in CENX. Tidal Investments LLC increased its stake in shares of Century Aluminum by 10.6% in the second quarter. Tidal Investments LLC now owns 10,868 shares of the industrial products company’s stock worth $500,000 after buying an additional 1,040 shares during the period. Steamboat Capital Partners LLC raised its holdings in Century Aluminum by 7.4% during the 2nd quarter. Steamboat Capital Partners LLC now owns 296,666 shares of the industrial products company’s stock valued at $13,650,000 after buying an additional 20,418 shares during the last quarter. Squarepoint Ops LLC boosted its position in Century Aluminum by 65.6% during the 2nd quarter. Squarepoint Ops LLC now owns 679,205 shares of the industrial products company’s stock valued at $31,250,000 after buying an additional 269,112 shares during the period. Arizona State Retirement System boosted its position in Century Aluminum by 19.8% during the 2nd quarter. Arizona State Retirement System now owns 18,434 shares of the industrial products company’s stock valued at $848,000 after buying an additional 3,052 shares during the period. Finally, Nykredit A S bought a new stake in Century Aluminum in the 2nd quarter worth $84,000. Hedge funds and other institutional investors own 61.59% of the company’s stock.

Century Aluminum Company Profile

Century Aluminum Company is a producer of primary aluminum. The company operates aluminum smelters that convert alumina into aluminum metal, supplying standard-grade and value-added products used in transportation, construction, packaging, and other industrial applications.

Century Aluminum’s operations are primarily located in the United States and Iceland. Its U.S. portfolio includes facilities in Sebree, Kentucky, and Mount Holly, South Carolina, while its Icelandic operations include the Grundartangi smelter, operated through its Norðurál subsidiary.