Century Aluminum (NASDAQ:CENX) Shares Gap Down to $14.36

Century Aluminum (NASDAQ:CENX)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $14.36, but opened at $13.86. Century Aluminum shares last traded at $13.03, with a volume of 285,432 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CENX shares. StockNews.com raised shares of Century Aluminum from a “sell” rating to a “hold” rating in a report on Monday, August 12th. BMO Capital Markets dropped their price target on Century Aluminum from $17.00 to $15.00 and set a “market perform” rating for the company in a research report on Friday, August 9th. Finally, B. Riley decreased their price objective on shares of Century Aluminum from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Century Aluminum Price Performance

The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 1.72. The stock has a market cap of $1.22 billion, a P/E ratio of 6.20 and a beta of 2.52. The firm has a 50-day moving average price of $15.79 and a 200-day moving average price of $15.44.

Century Aluminum (NASDAQ:CENX) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.05). Century Aluminum had a negative return on equity of 0.04% and a net margin of 10.32%. The company had revenue of $560.80 million during the quarter, compared to analysts’ expectations of $530.90 million. On average, analysts forecast that Century Aluminum will post 0.07 earnings per share for the current fiscal year.

Insider Transactions at Century Aluminum

In related news, CEO Jesse E. Gary sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $16.21, for a total transaction of $972,600.00. Following the completion of the sale, the chief executive officer now owns 62,447 shares of the company’s stock, valued at $1,012,265.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Covestor Ltd increased its holdings in Century Aluminum by 13,746.2% in the 1st quarter. Covestor Ltd now owns 1,800 shares of the industrial products company’s stock worth $28,000 after buying an additional 1,787 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Century Aluminum by 199.8% in the first quarter. GAMMA Investing LLC now owns 2,878 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 1,918 shares during the period. Quest Partners LLC raised its holdings 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 valued at $45,000 after purchasing an additional 1,385 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Century Aluminum by 7,779.8% during the first quarter. Russell Investments Group Ltd. now owns 7,013 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 6,924 shares during the period. Finally, Capstone Investment Advisors LLC bought a new position in Century Aluminum during the first quarter valued at approximately $161,000. 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.