Century Aluminum (CENX) Downgraded to Hold at Deutsche Bank

Deutsche Bank lowered shares of Century Aluminum (NASDAQ:CENX) from a buy rating to a hold rating in a research report released on Wednesday. The brokerage currently has $14.00 price objective on the industrial products company’s stock, down from their previous price objective of $20.00.

A number of other research analysts have also commented on CENX. BidaskClub raised shares of Century Aluminum from a hold rating to a buy rating in a research report on Thursday, August 24th. Macquarie started coverage on shares of Century Aluminum in a research report on Thursday, September 7th. They set a neutral rating for the company. Zacks Investment Research raised shares of Century Aluminum from a hold rating to a buy rating and set a $19.00 price target for the company in a research report on Monday, October 9th. Cowen set a $17.00 price target on shares of Century Aluminum and gave the stock a hold rating in a research report on Wednesday, October 11th. Finally, BMO Capital Markets set a $16.00 price target on shares of Century Aluminum and gave the stock a hold rating in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The company presently has an average rating of Hold and a consensus target price of $15.90.

Shares of Century Aluminum (NASDAQ CENX) traded up $1.06 on Wednesday, hitting $17.99. 3,683,000 shares of the stock were exchanged, compared to its average volume of 2,471,166. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.61 and a quick ratio of 1.27. Century Aluminum has a 1-year low of $8.39 and a 1-year high of $20.68.

Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.08). The company had revenue of $388.80 million for the quarter, compared to analyst estimates of $392.28 million. Century Aluminum had a negative net margin of 10.45% and a negative return on equity of 0.17%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.31) EPS. equities analysts predict that Century Aluminum will post 0.38 EPS for the current year.

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Century Aluminum by 2.3% in the second quarter. Vanguard Group Inc. now owns 4,628,874 shares of the industrial products company’s stock worth $72,117,000 after purchasing an additional 104,392 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Century Aluminum by 6.5% during the third quarter. Canada Pension Plan Investment Board now owns 3,433,902 shares of the industrial products company’s stock worth $56,934,000 after buying an additional 210,292 shares in the last quarter. Balyasny Asset Management LLC increased its holdings in shares of Century Aluminum by 742.8% during the second quarter. Balyasny Asset Management LLC now owns 3,027,819 shares of the industrial products company’s stock worth $47,173,000 after buying an additional 2,668,550 shares in the last quarter. Impala Asset Management LLC increased its holdings in shares of Century Aluminum by 63.2% during the second quarter. Impala Asset Management LLC now owns 2,797,458 shares of the industrial products company’s stock worth $43,584,000 after buying an additional 1,083,314 shares in the last quarter. Finally, ING Groep NV increased its holdings in shares of Century Aluminum by 760.7% during the third quarter. ING Groep NV now owns 2,443,639 shares of the industrial products company’s stock worth $40,516,000 after buying an additional 2,159,729 shares in the last quarter. 67.98% of the stock is owned by hedge funds and other institutional investors.

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About Century Aluminum

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.

Analyst Recommendations for Century Aluminum (NASDAQ:CENX)

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