Century Aluminum (NASDAQ:CENX) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of Century Aluminum (NASDAQ:CENX) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

A number of other research analysts have also issued reports on CENX. B. Riley reduced their price objective on Century Aluminum from $24.00 to $22.00 and set a buy rating for the company in a research report on Friday, August 9th. BMO Capital Markets reduced their price objective 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.

Century Aluminum Trading Down 4.6 %

NASDAQ:CENX opened at $15.56 on Tuesday. Century Aluminum has a 12-month low of $5.70 and a 12-month high of $21.37. The firm has a market capitalization of $1.44 billion, a P/E ratio of 7.12 and a beta of 2.48. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.72 and a quick ratio of 0.63. The business has a 50 day simple moving average of $14.14 and a 200 day simple moving average of $15.93.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings data on Thursday, August 8th. The industrial products company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). Century Aluminum had a net margin of 10.32% and a negative return on equity of 0.04%. The company had revenue of $560.80 million for the quarter, compared to analyst estimates of $530.90 million. Equities research analysts predict that Century Aluminum will post 0.07 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. MQS Management LLC boosted its position in Century Aluminum by 8.1% during the 2nd quarter. MQS Management LLC now owns 11,792 shares of the industrial products company’s stock worth $198,000 after acquiring an additional 883 shares during the period. Texas Permanent School Fund Corp boosted its position in Century Aluminum by 2.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 45,288 shares of the industrial products company’s stock worth $697,000 after acquiring an additional 1,102 shares during the period. The Manufacturers Life Insurance Company boosted its position in Century Aluminum by 5.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,893 shares of the industrial products company’s stock worth $467,000 after acquiring an additional 1,335 shares during the period. Quest Partners LLC boosted its position in Century Aluminum by 104.1% during the 2nd quarter. Quest Partners LLC now owns 2,716 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 1,385 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Century Aluminum by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 366,804 shares of the industrial products company’s stock worth $6,144,000 after buying an additional 1,641 shares in the last quarter. Institutional investors and hedge funds 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.