B. Riley Boosts Earnings Estimates for Century Aluminum

Century Aluminum (NASDAQ:CENX - Free Report) - Investment analysts at B. Riley raised their FY2024 EPS estimates for Century Aluminum in a research note issued on Tuesday, December 17th. B. Riley analyst L. Pipes now forecasts that the industrial products company will earn $0.62 per share for the year, up from their previous forecast of $0.56. B. Riley has a "Buy" rating and a $24.00 price target on the stock. The consensus estimate for Century Aluminum's current full-year earnings is $0.56 per share. B. Riley also issued estimates for Century Aluminum's FY2025 earnings at $2.76 EPS and FY2026 earnings at $3.02 EPS.

A number of other brokerages have also recently issued reports on CENX. StockNews.com upgraded shares of Century Aluminum from a "sell" rating to a "hold" rating in a research report on Saturday, November 9th. BMO Capital Markets raised their price objective on shares of Century Aluminum from $16.00 to $18.00 and gave the stock a "market perform" rating in a report on Tuesday, November 5th. Finally, Wolfe Research upgraded shares of Century Aluminum from a "peer perform" rating to an "outperform" rating and set a $27.00 target price for the company in a research note on Tuesday, December 3rd.

Century Aluminum Price Performance

Shares of NASDAQ CENX traded up $0.27 during midday trading on Friday, reaching $18.33. 3,179,473 shares of the company traded hands, compared to its average volume of 1,310,251. Century Aluminum has a 12 month low of $9.65 and a 12 month high of $25.39. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.56 and a current ratio of 1.71. The stock's 50-day simple moving average is $20.46 and its 200-day simple moving average is $17.20. The firm has a market cap of $1.70 billion, a PE ratio of 6.13 and a beta of 2.50.

Century Aluminum (NASDAQ:CENX - Get Free Report) last posted its 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. Century Aluminum had a return on equity of 11.37% and a net margin of 14.60%. The business had revenue of $539.10 million during the quarter, compared to the consensus estimate of $587.10 million. During the same quarter last year, the company earned ($0.13) EPS.

Institutional Investors Weigh In On Century Aluminum

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MQS Management LLC grew its stake in shares of Century Aluminum by 8.1% during the second quarter. MQS Management LLC now owns 11,792 shares of the industrial products company's stock valued at $198,000 after purchasing an additional 883 shares during the last quarter. GAMMA Investing LLC boosted its position in 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 buying an additional 1,233 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Century Aluminum by 5.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,893 shares of the industrial products company's stock valued at $467,000 after buying an additional 1,335 shares during the period. Quest Partners LLC raised its position in shares of Century Aluminum by 104.1% during the second 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 during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Century Aluminum by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 366,804 shares of the industrial products company's stock worth $6,144,000 after acquiring an additional 1,641 shares during the last quarter. 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.