Century Aluminum (NASDAQ:CENX) Downgraded to “Hold” at BidaskClub

Century Aluminum (NASDAQ:CENX) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, December 25th, BidAskClub reports.

Shares of NASDAQ CENX traded down $0.07 during midday trading on Wednesday, hitting $6.99. The stock had a trading volume of 1,717,006 shares, compared to its average volume of 1,189,038. The stock has a 50 day simple moving average of $7.37 and a 200-day simple moving average of $6.81. Century Aluminum has a 1 year low of $5.02 and a 1 year high of $9.98. The company has a quick ratio of 0.72, a current ratio of 2.23 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $627.59 million, a PE ratio of -49.89 and a beta of 1.97.

Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.09). The firm had revenue of $438.00 million during the quarter, compared to analysts’ expectations of $459.07 million. Century Aluminum had a negative net margin of 7.47% and a negative return on equity of 22.27%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.02 EPS. As a group, analysts expect that Century Aluminum will post -1.43 earnings per share for the current fiscal year.

In other Century Aluminum news, COO Jesse E. Gary sold 15,244 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $8.36, for a total transaction of $127,439.84. Following the transaction, the chief operating officer now owns 109,077 shares of the company’s stock, valued at $911,883.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael A. Bless sold 25,000 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $7.55, for a total value of $188,750.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,937 shares of company stock worth $493,649. Insiders own 1.03% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CENX. Tower Research Capital LLC TRC raised its holdings in shares of Century Aluminum by 1,471.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,512 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 7,034 shares during the period. Tyers Asset Management LLC increased its position in Century Aluminum by 27.8% during the second quarter. Tyers Asset Management LLC now owns 8,912 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 1,936 shares during the last quarter. Ellington Management Group LLC acquired a new stake in Century Aluminum during the second quarter worth about $74,000. Voloridge Investment Management LLC purchased a new position in Century Aluminum during the third quarter worth about $80,000. Finally, Elkfork Partners LLC raised its stake in Century Aluminum by 27.8% during the second quarter. Elkfork Partners LLC now owns 12,254 shares of the industrial products company’s stock worth $85,000 after purchasing an additional 2,662 shares during the period. 52.85% of the stock is owned by institutional investors and hedge funds.

Century Aluminum Company Profile

Century Aluminum Company, together with its subsidiaries, produces standard-grade and value-added primary aluminum products in the United States and Iceland. The company was founded in 1995 and is headquartered in Chicago, Illinois.

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