Century Aluminum Co Announces Earnings Results

Century Aluminum Co (NASDAQ:CENX) posted its earnings results on Tuesday. The industrial products company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.10. Century Aluminum had a negative net margin of 9.32% and a negative return on equity of 10.68%. The business had revenue of $365.80 million for the quarter, compared to analysts’ expectations of $364.33 million. During the same period in the prior year, the company posted ($0.23) EPS. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year.

Century Aluminum (NASDAQ:CENX) traded up 1.94% during trading on Friday, hitting $13.16. 2,770,675 shares of the company traded hands. Century Aluminum has a 52 week low of $5.53 and a 52 week high of $16.53. The company’s 50 day moving average is $12.68 and its 200-day moving average is $11.53.

In other Century Aluminum news, VP Michelle Lair sold 6,997 shares of the business’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $13.93, for a total transaction of $97,468.21. Following the sale, the vice president now directly owns 50,355 shares in the company, valued at $701,445.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of CENX. Comerica Bank raised its stake in shares of Century Aluminum by 5.2% in the fourth quarter. Comerica Bank now owns 52,507 shares of the industrial products company’s stock worth $605,000 after buying an additional 2,574 shares during the period. ING Groep NV raised its stake in shares of Century Aluminum by 76.2% in the fourth quarter. ING Groep NV now owns 3,020,400 shares of the industrial products company’s stock worth $26,912,000 after buying an additional 1,306,579 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Century Aluminum during the fourth quarter worth about $639,000. HBK Investments L P raised its stake in shares of Century Aluminum by 151.4% in the third quarter. HBK Investments L P now owns 50,533 shares of the industrial products company’s stock worth $351,000 after buying an additional 30,433 shares during the period. Finally, Weiss Asset Management LP raised its stake in shares of Century Aluminum by 157.8% in the third quarter. Weiss Asset Management LP now owns 101,819 shares of the industrial products company’s stock worth $708,000 after buying an additional 62,327 shares during the period. Institutional investors own 60.27% of the company’s stock.

Several analysts have issued reports on CENX shares. Zacks Investment Research upgraded shares of Century Aluminum from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Tuesday, February 21st. TheStreet upgraded shares of Century Aluminum from a “d+” rating to a “c” rating in a research note on Monday, February 27th. Standpoint Research cut shares of Century Aluminum from a “buy” rating to a “hold” rating in a research report on Thursday, January 19th. BMO Capital Markets restated a “hold” rating and set a $14.00 price objective on shares of Century Aluminum in a research report on Wednesday, April 26th. Finally, Cowen and Company raised their price objective on shares of Century Aluminum from $11.00 to $16.00 and gave the company a “market perform” rating in a research report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $12.80.

Century Aluminum Company Profile

Century Aluminum Company (Century) is a holding company, which is a producer of primary aluminum and operates aluminum reduction facilities, or smelters, in the United States and Iceland. The Company operates through primary aluminum segment. The Company’s primary aluminum facilities produce standard grade primary aluminum products.