Century Aluminum (NASDAQ:CENX) Price Target Raised to $69.00

Century Aluminum (NASDAQ:CENX) had its target price increased by Wells Fargo & Company from $61.00 to $69.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other research firms have also recently commented on CENX. B. Riley Financial lifted their target price on shares of Century Aluminum from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Wall Street Zen raised Century Aluminum from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Weiss Ratings restated a “hold (c)” rating on shares of Century Aluminum in a report on Wednesday, January 21st. Finally, Zacks Research raised Century Aluminum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $57.00.

Century Aluminum Price Performance

Century Aluminum stock opened at $54.73 on Thursday. Century Aluminum has a 12-month low of $13.05 and a 12-month high of $59.12. The stock has a market capitalization of $5.42 billion, a P/E ratio of 136.83 and a beta of 2.17. The firm’s 50-day moving average is $49.76 and its two-hundred day moving average is $36.76. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.97 and a quick ratio of 0.98.

Century Aluminum (NASDAQ:CENX) last issued its quarterly earnings results on Thursday, February 19th. The industrial products company reported $1.25 EPS for the quarter, hitting analysts’ consensus estimates of $1.25. The business had revenue of $633.70 million during the quarter, compared to the consensus estimate of $661.63 million. Century Aluminum had a net margin of 1.65% and a return on equity of 5.57%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 earnings per share. Equities analysts predict that Century Aluminum will post 2.76 earnings per share for the current year.

Insider Activity at Century Aluminum

In related news, CAO Robert F. Hoffman sold 10,529 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $56.51, for a total transaction of $594,993.79. Following the completion of the transaction, the chief accounting officer owned 56,643 shares of the company’s stock, valued at approximately $3,200,895.93. This represents a 15.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Dezee sold 66,000 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $50.72, for a total transaction of $3,347,520.00. Following the transaction, the executive vice president directly owned 97,647 shares of the company’s stock, valued at $4,952,655.84. This trade represents a 40.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 251,626 shares of company stock valued at $12,527,411 in the last ninety days. 0.76% of the stock is owned by company insiders.

Institutional Trading of Century Aluminum

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Convergence Investment Partners LLC purchased a new position in shares of Century Aluminum in the 3rd quarter worth about $942,000. New Century Financial Group LLC acquired a new position in shares of Century Aluminum in the 3rd quarter valued at about $987,000. Campbell & CO Investment Adviser LLC grew its holdings in shares of Century Aluminum by 620.8% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 143,144 shares of the industrial products company’s stock worth $4,203,000 after purchasing an additional 123,285 shares during the period. SummerHaven Investment Management LLC purchased a new stake in shares of Century Aluminum during the 3rd quarter worth about $1,277,000. Finally, Principal Financial Group Inc. increased its position in Century Aluminum by 35.4% during the 3rd quarter. Principal Financial Group Inc. now owns 350,858 shares of the industrial products company’s stock worth $10,301,000 after purchasing an additional 91,647 shares in the last quarter. 61.59% of the stock is currently owned by institutional investors and hedge funds.

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.