In November, the short interest in Century Aluminum (NASDAQ: CENX) significantly declined. There were 6,170,000 shares totaling short interest as of November 15, a 10.7% decrease from 6,910,000 shares as of October 31. Based on an average daily volume of 2,200,000 shares, the short-interest ratio is 2.8 days. Currently, short sales are being made on 12.1% of the stock’s shares.
On Monday, November 7, Century Aluminum (NASDAQ: CENX) just announced the results of its most recent quarter.
The industrial goods manufacturer recorded $0.34 in earnings per share for the three months, $0.29 better than the average expert projection. The quarter’s sales of $637.20 million fell short of analyst estimates of $665.53 million. Century Aluminum did well with a net margin of 5.15% and a return on equity of 15.97%. Stock experts anticipate that Century Aluminum will produce an average of 0.32 profits per share for the current fiscal year.
The price of NASDAQ: CENX rose $0.66 on Friday to $9.47. The company’s trading volume was 1,656,518 shares, compared to its typical volume of 2,009,436 shares. The company’s debt-to-equity, quick, and current ratios are 0.72, 0.92, and 1.87, respectively. The company’s 50-day moving average price is $7.28, and its 200-day moving average price is $8.22. The stock has an $865.08 million market value, a P.E. ratio of 6.07, and a beta of 2.72. The one-year high and low prices for Century Aluminum are $30.36 and $5.27, respectively.
Several brokerages have remarked on CENX. TheStreet raised Century Aluminum’s rating from a “d+” to a “c” on Tuesday, August 16. StockNews.com revised Century Aluminum’s rating from “hold” to “sell” on November 10. Finally, in a research note published on Friday, September 30, Wolfe Research set a $4.00 price objective for Century Aluminum and downgraded the stock from “peer perform” to “underperform.” Three stock analysts have advised investors to buy the company’s shares, while another two have advised holding them, and a third has advised selling them. According to Bloomberg.com, the business now has an average rating of “Hold” and an average price target of $14.33.
Institutional investors and hedge funds have recently boosted or lowered their stakes in CENX. Commonwealth Equity Services L.L.C. increased its ownership of Century Aluminum by $53,000 during the third quarter. Mutual of America Capital Management L.L.C. raised its interest in Century Aluminum by 18.6% during the third quarter. Mutual of America Capital Management L.L.C. now owns 10,178 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 1,597 shares during the most recent quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Century Aluminum to $55,000 during the third quarter. Landscape Capital Management L.L.C. put $57,000 into a new Century Aluminum stake during the third quarter. Finally, Quantbot Technologies L.P. increased its ownership of Century Aluminum by $57,000 during the second quarter. Institutional investors and hedge funds own 62.16% of the company’s stock.
Century Aluminum Company and its affiliates produce standard-grade and value-added primary aluminum products in the U.S. and Iceland. It also owns and operates a carbon anode production facility in the Netherlands. The company was founded in 1981, and its corporate headquarters are in Chicago, Illinois.