Century Aluminum (NASDAQ:CENX) Shares Gap Down to $17.75

Century Aluminum (NASDAQ:CENX)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $17.75, but opened at $17.00. Century Aluminum shares last traded at $16.81, with a volume of 239,824 shares.

Analyst Ratings Changes

Several research firms have issued reports on CENX. Wolfe Research raised shares of Century Aluminum from an “underperform” rating to a “peer perform” rating in a research note on Monday, December 18th. BMO Capital Markets raised their target price on shares of Century Aluminum from $8.00 to $12.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 20th. B. Riley raised shares of Century Aluminum from a “neutral” rating to a “buy” rating and raised their target price for the stock from $10.00 to $14.00 in a research report on Tuesday, January 9th. Finally, StockNews.com raised shares of Century Aluminum from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th.

Century Aluminum Stock Performance

The company’s fifty day moving average is $12.59 and its 200 day moving average is $10.14. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.01 and a quick ratio of 0.38.

Century Aluminum (NASDAQ:CENX) last posted its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $0.30 EPS for the quarter, beating the consensus estimate of ($0.23) by $0.53. Century Aluminum had a negative net margin of 2.05% and a positive return on equity of 5.18%. The firm had revenue of $512.30 million for the quarter, compared to analyst estimates of $514.40 million. Equities research analysts predict that Century Aluminum will post -0.16 EPS for the current year.

Institutional Trading of Century Aluminum

A number of hedge funds have recently made changes to their positions in CENX. State of Wyoming purchased a new stake in shares of Century Aluminum during the second quarter valued at approximately $28,000. GAMMA Investing LLC raised its stake in shares of Century Aluminum by 199.8% during the first quarter. GAMMA Investing LLC now owns 2,878 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 1,918 shares during the period. Commonwealth Equity Services LLC purchased a new stake in shares of Century Aluminum during the third quarter valued at approximately $53,000. Quantbot Technologies LP purchased a new stake in shares of Century Aluminum during the second quarter valued at approximately $57,000. Finally, Strs Ohio raised its stake in shares of Century Aluminum by 625.0% during the third quarter. Strs Ohio now owns 8,700 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 7,500 shares during the period. Hedge funds and other institutional investors own 61.59% of the company’s stock.

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.