Century Aluminum (NASDAQ:CENX) Short Interest Down 11.9% in November

Century Aluminum (NASDAQ:CENX) saw a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 4,230,000 shares, a decline of 11.9% from the November 15th total of 4,800,000 shares. Currently, 8.2% of the shares of the company are sold short. Based on an average daily volume of 1,080,000 shares, the days-to-cover ratio is currently 3.9 days.

Institutional Trading of Century Aluminum

Several institutional investors and hedge funds have recently modified their holdings of CENX. Mountaineer Partners Management LLC raised its stake in Century Aluminum by 1,607.1% in the third quarter. Mountaineer Partners Management LLC now owns 22,849,097 shares of the industrial products company’s stock valued at $370,841,000 after purchasing an additional 21,510,639 shares in the last quarter. Encompass Capital Advisors LLC increased its holdings in shares of Century Aluminum by 1,208.7% in the 2nd quarter. Encompass Capital Advisors LLC now owns 1,401,638 shares of the industrial products company’s stock worth $23,477,000 after buying an additional 1,294,538 shares during the last quarter. Bank of Montreal Can raised its position in shares of Century Aluminum by 341.1% during the 2nd quarter. Bank of Montreal Can now owns 411,968 shares of the industrial products company’s stock valued at $6,900,000 after buying an additional 318,579 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Century Aluminum by 125.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 531,679 shares of the industrial products company’s stock worth $8,906,000 after acquiring an additional 296,101 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Century Aluminum by 30.4% in the second quarter. American Century Companies Inc. now owns 1,186,243 shares of the industrial products company’s stock worth $19,870,000 after acquiring an additional 276,304 shares in the last quarter. Hedge funds and other institutional investors own 61.59% of the company’s stock.

Century Aluminum Stock Performance

Shares of Century Aluminum stock traded down $0.49 during trading hours on Monday, reaching $20.38. The company had a trading volume of 506,880 shares, compared to its average volume of 1,303,575. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 0.56. Century Aluminum has a one year low of $9.65 and a one year high of $25.39. The firm has a market cap of $1.89 billion, a PE ratio of 6.98 and a beta of 2.50. The business has a fifty day simple moving average of $20.20 and a 200 day simple moving average of $17.16.

Century Aluminum (NASDAQ:CENX) last posted its earnings results on Monday, November 4th. The industrial products company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.31. Century Aluminum had a net margin of 14.60% and a return on equity of 11.37%. The business had revenue of $539.10 million for the quarter, compared to analyst estimates of $587.10 million. During the same quarter in the prior year, the firm posted ($0.13) EPS. On average, analysts anticipate that Century Aluminum will post 0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. StockNews.com raised Century Aluminum from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. B. Riley increased their price target on Century Aluminum from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. BMO Capital Markets boosted their price objective on Century Aluminum from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Finally, Wolfe Research raised shares of Century Aluminum from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a report on Tuesday, December 3rd.

Century Aluminum Company Profile

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.