Century Aluminum (NASDAQ:CENX) Sets New 52-Week High – What’s Next?

Shares of Century Aluminum (NASDAQ:CENX) hit a new 52-week high on Friday . The stock traded as high as $24.09 and last traded at $23.87, with a volume of 247135 shares traded. The stock had previously closed at $21.12.

Analysts Set New Price Targets

CENX has been the topic of a number of research analyst reports. BMO Capital Markets boosted their price target on shares of Century Aluminum from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. StockNews.com upgraded Century Aluminum from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, B. Riley raised their price target on Century Aluminum from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th.

Century Aluminum Stock Up 11.8 %

The business’s fifty day moving average is $16.76 and its two-hundred day moving average is $16.42. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 7.86 and a beta of 2.47. The company has a quick ratio of 0.56, a current ratio of 1.71 and a debt-to-equity ratio of 0.71.

Century Aluminum (NASDAQ:CENX) last posted its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.32 by $0.31. The business had revenue of $539.10 million during the quarter, compared to the consensus estimate of $587.10 million. Century Aluminum had a net margin of 14.60% and a return on equity of 11.37%. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. Equities analysts forecast that Century Aluminum will post 0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Century Aluminum

Hedge funds have recently bought and sold shares of the stock. Covestor Ltd increased its stake in shares of Century Aluminum by 13,746.2% during the first quarter. Covestor Ltd now owns 1,800 shares of the industrial products company’s stock worth $28,000 after buying an additional 1,787 shares during the period. Quest Partners LLC grew its holdings in Century Aluminum by 104.1% during the 2nd quarter. Quest Partners LLC now owns 2,716 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 1,385 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Century Aluminum by 39.6% in the 3rd quarter. GAMMA Investing LLC now owns 4,347 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 1,233 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Century Aluminum by 7,779.8% in the 1st quarter. Russell Investments Group Ltd. now owns 7,013 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 6,924 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of Century Aluminum during the 1st quarter worth $163,000. Institutional investors and hedge funds own 61.59% of the company’s stock.

Century Aluminum Company Profile

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.