#3 - Century Aluminum Company (NASDAQ:CENX)
Century Aluminum Company (NASDAQ: CENX) – Another direct beneficiary of the Trump tariffs is Century Aluminum. In direct response to the relief from competitors being provided by the tariffs, CEO Michael Bless announced that the tariffs allow Century Aluminum “to bring back 150,000 tons of production in its Kentucky plant.” With that increased production, the company is looking to invest $100 million and hire 300 workers. Two-thirds of the companies $1.5 billion in sales is from their U.S. operations. In their second-quarter earnings report, the company cited strong downstream demand, particularly in the United States, and projects a year-over-year increase in industrial production of roughly 60 percent by the end of 2018. The company reported second-quarter net income of $19.4 million or $0.20 per share compared to $7.1 million or $0.07 per share in the same quarter last year. All this positive news is not reflected in their stock price, which is still trading at a discount to the rest of the industry, but is up by nearly 10 percent since the tariffs were announced.
About Century Aluminum
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.
Read More - Current Price
- $18.33
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 2 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $23.00 (25.5% Upside)
