Century Aluminum (NASDAQ:CENX) Shares Gap Down – What’s Next?

Shares of Century Aluminum Company (NASDAQ:CENX) gapped down before the market opened on Friday . The stock had previously closed at $49.70, but opened at $45.60. Century Aluminum shares last traded at $45.8260, with a volume of 1,645,329 shares changing hands.

Analysts Set New Price Targets

Several analysts recently commented on CENX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Century Aluminum in a research report on Wednesday, January 21st. Zacks Research cut shares of Century Aluminum from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. B. Riley Financial boosted their price objective on shares of Century Aluminum from $37.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. BMO Capital Markets upped their price objective on Century Aluminum from $30.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Finally, Wells Fargo & Company lifted their target price on Century Aluminum from $46.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.00.

Century Aluminum Stock Down 7.4%

The company has a quick ratio of 0.79, a current ratio of 1.71 and a debt-to-equity ratio of 0.69. The company has a market cap of $4.30 billion, a PE ratio of 54.16 and a beta of 2.24. The company’s fifty day moving average is $42.92 and its 200-day moving average is $32.47.

Insider Activity

In related news, CEO Jesse E. Gary sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $48.19, for a total value of $7,228,500.00. Following the transaction, the chief executive officer owned 292,580 shares of the company’s stock, valued at approximately $14,099,430.20. This trade represents a 33.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp purchased a new stake in shares of Century Aluminum in the 1st quarter worth $25,000. Private Trust Co. NA bought a new stake in Century Aluminum during the fourth quarter valued at about $28,000. EverSource Wealth Advisors LLC increased its position in Century Aluminum by 253.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,822 shares of the industrial products company’s stock worth $33,000 after buying an additional 1,306 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Century Aluminum in the third quarter worth about $34,000. Finally, Transamerica Financial Advisors LLC bought a new position in shares of Century Aluminum in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 61.59% of the company’s stock.

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.