BlackRock Fund Advisors recently announced the acquisition of new stake in Century Aluminum Company (NASDAQ:CENX). The institutional investor has increased its shareholding in the Basic Materials company by 6.22% to 9.03 million shares with purchase of 0.53 million shares. This fresh investment now brings its stake to 9.89% valued currently at $108.99 million. In addition, Dimensional Fund Advisors LP raised its holdings by 34068.0 to 3.18 million shares. And Invesco Capital Management LLC has lifted its position by 163.24% or 0.65 million shares – to 1.05 million shares.
With over 2.69 million Century Aluminum Company (CENX) shares trading Friday and a closing price of $10.08 on the day, the dollar volume was approximately $27.12 million. The shares have shown a positive half year performance of 31.59% and its price on 03/10/23 lost nearly -11.03%. Currently, there are 91.70M common shares owned by the public and among those 51.40M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for CENX have a consensus price objective of $11.50. The analysts have set the share’s price value over the next 12 months at a high of $12.00 and a low of $11.00. The average price target is 12.35% above its recent price level and an upside to the estimated low will see the stock gain 8.36% over that period. But an upside of 16.0% will see the stock hit the forecast high price target while median target price for the stock is $11.50.
Insiders at the company have transacted a total of 37 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 21 of these insider trades were purchases, accounting for 28,442,553 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 27,751,401 shares.
The top 3 mutual fund holders in Century Aluminum Company are SPDR S&P Metals & Mining ETF, iShares Core S&P Small Cap ETF, and Vanguard Total Stock Market Index. SPDR S&P Metals & Mining ETF owns 5.3 million shares of the company’s stock, all valued at over $64.01 million. The company sold 5723.0 shares recently to bring their total holdings to about 5.81% of the shares outstanding. iShares Core S&P Small Cap ETF bought 9464.0 shares to see its total holdings expand to 3.9 million shares valued at over $47.02 million and representing 4.26% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 1.74% of the shares outstanding.
Shares of Century Aluminum Company (NASDAQ: CENX) opened at $11.32, down -$0.01 from a prior closing price of $11.33. However, the script later moved the day high at 11.32, down -11.03%. The company’s stock has a 5-day price change of -21.86% and 24.91% over the past three months. CENX shares are trading 23.23% year to date (YTD), with the 12-month market performance down to -60.30% lower. It has a 12-month low price of $5.27 and touched a high of $29.85 over the same period. CENX has an average intraday trading volume of 1.97 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -9.92%, -3.94%, and 15.97% respectively.
Institutional ownership of Century Aluminum Company (NASDAQ: CENX) shares accounts for 57.80% of the company’s 91.70M shares outstanding. Mutual fund holders own 37.38%, while other institutional holders and individual stakeholders account for 46.56% and 20.28% respectively.
It has a market capitalization of $1.05B and a beta (3y monthly) value of 2.71. The earnings-per-share (ttm) stands at -$0.21. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.13% over the week and 6.15% over the month.
Analysts forecast that Century Aluminum Company (CENX) will achieve an EPS of -$0.66 for the current quarter, -$0.19 for the next quarter and $1.25 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.67 while analysts give the company a high EPS estimate of -$0.65. Comparatively, EPS for the current quarter was $0.17 a year ago. Earnings per share for the fiscal year are expected to increase by 91.70%, and 245.37% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Century Aluminum Company (CENX) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 3 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CENX, a number of firms have released research notes about the stock. B. Riley Securities stated their Neutral rating for the stock in a research note on March 01, 2023, with the firm’s price target at $12. Wolfe Research was of a view on September 30, 2022 that the stock is Underperform, while Wolfe Research gave the stock Peer Perform rating on May 18, 2022, issuing a price target of $30- $14. Wolfe Research on their part issued Outperform rating on November 17, 2021.
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