B. Riley Expects Increased Earnings for Century Aluminum

Century Aluminum (NASDAQ:CENX) – Analysts at B. Riley raised their FY2024 earnings estimates for shares of Century Aluminum in a research report issued to clients and investors on Tuesday, December 17th. B. Riley analyst L. Pipes now forecasts that the industrial products company will post earnings of $0.62 per share for the year, up from their previous estimate of $0.56. B. Riley currently has a “Buy” rating and a $24.00 target price on the stock. The consensus estimate for Century Aluminum’s current full-year earnings is $0.56 per share. B. Riley also issued estimates for Century Aluminum’s FY2025 earnings at $2.76 EPS and FY2026 earnings at $3.02 EPS.

Century Aluminum (NASDAQ:CENX) last issued its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.31. Century Aluminum had a return on equity of 11.37% and a net margin of 14.60%. The firm had revenue of $539.10 million during the quarter, compared to the consensus estimate of $587.10 million. During the same quarter in the previous year, the company posted ($0.13) EPS.

A number of other brokerages have also recently issued reports on CENX. BMO Capital Markets raised their price objective on shares of Century Aluminum from $16.00 to $18.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Wolfe Research raised shares of Century Aluminum from a “peer perform” rating to an “outperform” rating and set a $27.00 target price for the company in a research note on Tuesday, December 3rd. Finally, StockNews.com raised shares of Century Aluminum from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th.

Century Aluminum Price Performance

CENX opened at $18.06 on Friday. The stock has a market capitalization of $1.68 billion, a P/E ratio of 6.04 and a beta of 2.50. Century Aluminum has a one year low of $9.65 and a one year high of $25.39. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 0.56. The company’s 50 day simple moving average is $20.46 and its 200-day simple moving average is $17.20.

Institutional Trading of Century Aluminum

Institutional investors have recently made changes to their positions in the business. Mountaineer Partners Management LLC grew its position 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 grew 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 valued at $23,477,000 after acquiring an additional 1,294,538 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Century Aluminum by 341.1% in 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 acquiring an additional 318,579 shares in the last quarter. American Century Companies Inc. increased its position in shares of 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 valued at $19,870,000 after acquiring an additional 276,304 shares during the last quarter. Finally, Yaupon Capital Management LP raised its holdings in Century Aluminum by 401.5% during the third quarter. Yaupon Capital Management LP now owns 322,024 shares of the industrial products company’s stock worth $5,226,000 after acquiring an additional 257,812 shares in the last quarter. 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.