Century Aluminum (NASDAQ:CENX) Shares Gap Up - Still a Buy?

Century Aluminum (NASDAQ:CENX - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $18.69, but opened at $19.82. Century Aluminum shares last traded at $21.13, with a volume of 1,150,942 shares changing hands.

Analyst Upgrades and Downgrades

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

Century Aluminum Trading Up 6.1 %

The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 0.56. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 7.15 and a beta of 2.50. The business has a 50 day moving average of $19.45 and a 200 day moving average of $17.77.

Insider Activity at Century Aluminum

In related news, CEO Jesse E. Gary sold 29,243 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $18.97, for a total transaction of $554,739.71. Following the sale, the chief executive officer now owns 50,753 shares of the company's stock, valued at approximately $962,784.41. This represents a 36.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Century Aluminum

Several hedge funds have recently made changes to their positions in CENX. GAMMA Investing LLC increased its stake 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 worth $71,000 after buying an additional 1,233 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Century Aluminum by 5.0% during the second 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. Nisa Investment Advisors LLC lifted its position in Century Aluminum by 159.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,256 shares of the industrial products company's stock valued at $59,000 after acquiring an additional 2,000 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Century Aluminum during the fourth quarter valued at $39,000. Finally, Franklin Resources Inc. raised its stake in shares of Century Aluminum by 7.9% during the 3rd quarter. Franklin Resources Inc. now owns 30,115 shares of the industrial products company's stock valued at $524,000 after buying an additional 2,198 shares during the last quarter. 61.59% of the stock is currently 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.