Century Aluminum (NASDAQ:CENX) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Century Aluminum (NASDAQ:CENX - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $17.29 and traded as high as $18.96. Century Aluminum shares last traded at $18.41, with a volume of 655,815 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CENX shares. StockNews.com raised shares of Century Aluminum from a "sell" rating to a "hold" rating in a research note on Saturday, November 9th. BMO Capital Markets upped their price objective on Century Aluminum from $16.00 to $18.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 5th. B. Riley lifted their target price on Century Aluminum from $22.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, Wolfe Research upgraded Century Aluminum from a "peer perform" rating to an "outperform" rating and set a $27.00 target price on the stock in a research note on Tuesday, December 3rd.

Century Aluminum Stock Down 3.1 %

The firm's 50-day simple moving average is $20.63 and its 200 day simple moving average is $17.30. 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 has a market capitalization of $1.71 billion, a P/E ratio of 6.16 and a beta of 2.50.

Century Aluminum (NASDAQ:CENX - Get Free Report) last released its earnings results on Monday, November 4th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.31. The business had revenue of $539.10 million for the quarter, compared to analyst estimates of $587.10 million. Century Aluminum had a return on equity of 11.37% and a net margin of 14.60%. During the same quarter in the prior year, the company posted ($0.13) earnings per share. As a group, research analysts expect that Century Aluminum will post 0.56 EPS for the current year.

Hedge Funds Weigh In On Century Aluminum

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Century Aluminum by 49.9% in the third quarter. JPMorgan Chase & Co. now owns 959,033 shares of the industrial products company's stock valued at $15,565,000 after acquiring an additional 319,164 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Century Aluminum by 17.0% in the 3rd quarter. Principal Financial Group Inc. now owns 301,992 shares of the industrial products company's stock valued at $4,901,000 after purchasing an additional 43,881 shares during the last quarter. Franklin Resources Inc. grew its holdings in Century Aluminum by 7.9% during the third quarter. Franklin Resources Inc. now owns 30,115 shares of the industrial products company's stock worth $524,000 after purchasing an additional 2,198 shares during the period. Barclays PLC increased its position in Century Aluminum by 266.5% during the third quarter. Barclays PLC now owns 97,396 shares of the industrial products company's stock worth $1,581,000 after buying an additional 70,825 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Century Aluminum by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,279,772 shares of the industrial products company's stock worth $20,774,000 after buying an additional 13,486 shares during the last quarter. 61.59% of the stock is owned by institutional investors.

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.