It is trading at $15.64 which is just over $14.73, the 50 day moving average and barely above the 200 day moving average of $13.15. The 50 day moving average went up $0.91 or +6.17% and the 200 day average moved up $2.49. Trading volume for Century Aluminum Company was 2,720K on Thursday. Volume was up 112.34% over the stocks average daily volume.
Traders are more bearish on Century Aluminum Company of late if you take a look at the change in short interest. The company experienced a rise in short interest of 8.21% between June 15, 2017 and May 31, 2017. Short shares grew 1,185,929 over that period. Days to cover decreased -5.8 to 5.5 and the percentage of shorted shares was 0.18% on May 31.
The following firms have also recently changed their position in CENX. As of quarter end Creative Planning had disposed of a total of 881 shares trimming its position 46.8%. The value in dollars decreased from $24,000 to $0 decreasing 100.0% quarter to quarter. As of the end of the quarter Capstone Asset Management Co had sold 520 shares trimming its holdings by 2.2%. The value of the investment in Century Aluminum Company went from $302,000 to $362,000 a change of $60,000 quarter over quarter.
As of quarter end Morgan Stanley had bought a total of 2,066 shares growing its stake by 350.8%. The value of the total investment in Century Aluminum Company increased from $5,000 to $34,000 a change of 580.0% since the last quarter. As of quarter end Goldman Sachs Group Inc had acquired a total of 723,375 shares growing its holdings by 1,293.0%. The value of the investment in (CENX) increased from $479,000 to $9,890,000 a change of 1,964.7% for the reporting period.
On June 23 the company was set at “Hold” by Deutsche Bank which is up from the previous “Hold” rating. On October 28, 2016 the stock rating was rated “Neutral” according to a JP Morgan report which was a boost from the previous “Underweight” rating.
On February 23 the company was changed to a “Market Perform” in a report from BMO Capital down from the previous “Outperform” rating. On November 9 the company was downgraded to “Neutral” from “Buy” in a statement from Nomura.
Equity analyst Deutsche Bank downgraded the stock and lowered the price target on October 5 changing the price target from $10.00 to $7.00 and changing the rating from “Buy” to “Hold”. On October 5 the stock rating was downgraded from “Buy” to “Hold” with a current price target of $7.00 by Deutsche Bank.
The company is down from yesterday’s close of $16.53. In the last earnings report the EPS was $-2.89 and is projected to be $0.83 for the current year with 87,262,000 shares presently outstanding. Next quarter’s EPS is forecasted at $0.30 with next year’s EPS projected to be $0.85.
Century Aluminum Company (Century), launched on February 20, 1981, is a holding company, which is a producer of primary aluminum and operates aluminum reduction facilities, or smelters, in the United States and Iceland. The Company operates through primary aluminum segment. The Business’s primary aluminum facilities produce standard grade primary aluminum products. As of December 31, 2016, its annual primary aluminum production capacity was approximately 1,012,000 tons per year (tpy). The Business’s principal subsidiaries are Century Kentucky, Inc. (CAKY), Nordural ehf (Nordural), Century Aluminum Sebree LLC (Century Sebree), Century Aluminum of South Carolina (CASC) and Century Aluminum of West Virginia, Inc. (Century of West Virginia). Its CAKY operates a primary aluminum reduction facility in Hawesville, Kentucky (Hawesville). Nordural Grundartangi ehf, a subsidiary of Nordural, operates a primary aluminum reduction facility in Grundartangi, Iceland (Grundartangi). Century Sebree operates a primary aluminum reduction facility in Robards, Kentucky (Sebree). CASC operates a primary aluminum reduction facility in Mt. Holly, South Carolina (Mt. Holly). Nordural Helguvik ehf, a subsidiary of Nordural, owns a greenfield primary aluminum project in Helguvik, Iceland (Helguvik or the Helguvik project)..