A share of Century Aluminum Company (NASDAQ:CENX) closed at $11.04 per share on Tuesday, up from $10.63 day before. While Century Aluminum Company has overperformed by 3.86%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CENX fell by -30.57%, with highs and lows ranging from $30.36 to $5.27, whereas the simple moving average jumped by 11.39% in the last 200 days.
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On September 30, 2022, Wolfe Research Downgraded Century Aluminum Company (NASDAQ: CENX) to Underperform. A report published by Wolfe Research on May 18, 2022, Downgraded its rating to ‘Peer Perform’ for CENX. Wolfe Research also rated CENX shares as ‘Outperform’, setting a target price of $19 on the company’s shares in an initiating report dated November 17, 2021. BMO Capital Markets June 25, 2020d its ‘Outperform’ rating to ‘Market Perform’ for CENX, as published in its report on June 25, 2020. B. Riley FBR’s report from March 24, 2020 suggests a price prediction of $5 for CENX shares, giving the stock a ‘Neutral’ rating. Berenberg also rated the stock as ‘Hold’.
Analysis of Century Aluminum Company (CENX)
Further, the quarter-over-quarter increase in sales is 9.60%, showing a positive trend in the upcoming months.
Century Aluminum Company’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of 33.10% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.90, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and CENX is registering an average volume of 1.92M. On a monthly basis, the volatility of the stock is set at 6.82%, whereas on a weekly basis, it is put at 6.66%, with a gain of 5.34% over the past seven days. Furthermore, long-term investors anticipate a median target price of $10.33, showing decline from the present price of $11.04, which can serve as yet another indication of whether CENX is worth investing in or should be passed over.
How Do You Analyze Century Aluminum Company Shares?
A giant in the Aluminum market, Century Aluminum Company (CENX) is based in the USA. When comparing Century Aluminum Company shares with other companies under Basic Materials, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 6.79, there is a growth in quarterly earnings of 173.50%.
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.30%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 57.80% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in CENX shares?
The recent increase in stakes in CENX appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in CENX has increased by 4.13% in the first quarter. The company now owns 8,852,538 shares of the stock, with a value of $72.41 million, following the purchase of 351,018 additional shares during the last quarter. SSgA Funds Management, Inc. made another decreased to its shares in CENX during the first quarter, downing its stake by -21.53%. During the last quarter, the company picked up -2,268,109 additional shares for a total stake of worth $67.64 million, bringing number of shares owned by the company to 8,268,408.
During the first quarter, The Vanguard Group, Inc. added a 334,624 position in CENX. Dimensional Fund Advisors LP sold an additional -0.27 million shares in the last quarter, decreasing its holdings by -7.83%, now holding 3.14 million shares worth $25.72 million. At the end of the first quarter, Fisher Asset Management LLC decreased its CENX holdings by -2.01% and now holds 2.52 million CENX shares valued at $20.62 million with the lessened 51603.0 shares during the period. CENX shares are owned by institutional investors to the tune of 57.80% at present.
