BlackRock Fund Advisors recently announced the acquisition of new stake in Century Aluminum Co. (NASDAQ:CENX). The institutional investor has increased its shareholding in the Basic Materials company by 4.76% to 9.43 million shares with purchase of 0.43 million shares. This fresh investment now brings its stake to 10.20% valued currently at $74.1 million. In addition, SSgA Funds Management, Inc. raised its holdings by 1.21 million to 6.28 million shares. And Mountaineer Partners Management L has lifted its position by 1.93% or 38525.0 shares – to 2.04 million shares.
With over 3.95 million Century Aluminum Co. (CENX) shares trading Tuesday and a closing price of $11.69 on the day, the dollar volume was approximately $46.16 million. The shares have shown a positive half year performance of 42.56% and its price on 01/09/24 gained nearly 9.77%. Currently, there are 92.32M common shares owned by the public and among those 51.13M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
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 $13.00. The analysts have set the share’s price value over the next 12 months at a high of $14.00 and a low of $12.00. The average price target is 10.08% above its recent price level and an upside to the estimated low will see the stock gain 2.58% over that period. But an upside of 16.5% will see the stock hit the forecast high price target while median target price for the stock is $13.00.
Insiders at the company have transacted a total of 12 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 9 of these insider trades were purchases, accounting for 206,759 shares. Insider sales of the common stock occurred on 3 occasions, with total insider shares sold totaling 105,393 shares.
The top 3 mutual fund holders in Century Aluminum Co. are SPDR S&P Metals & Mining ETF, iShares Core S&P Small Cap ETF, and iShares Tr. – US Infrastructure E. SPDR S&P Metals & Mining ETF owns 4.47 million shares of the company’s stock, all valued at over $35.14 million. The company sold 6658.0 shares recently to bring their total holdings to about 4.84% of the shares outstanding. iShares Core S&P Small Cap ETF bought 1926.0 shares to see its total holdings expand to 3.48 million shares valued at over $27.33 million and representing 3.76% of the shares outstanding. iShares Tr. – US Infrastructure E sold 9240.0 shares to bring its total holdings to over 1.73 million shares at a value of $13.57 million. iShares Tr. – US Infrastructure E now owns shares totaling to 1.87% of the shares outstanding.
Shares of Century Aluminum Co. (NASDAQ: CENX) opened at $11.40, up $0.75 from a prior closing price of $10.65. However, the script later moved the day high at 12.57, up 9.77%. The company’s stock has a 5-day price change of -1.93% and 77.93% over the past three months. CENX shares are trading -3.71% year to date (YTD), with the 12-month market performance up to 25.43% higher. It has a 12-month low price of $5.70 and touched a high of $13.17 over the same period. CENX has an average intraday trading volume of 1.48 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 8.50%, 34.88%, and 40.71% respectively.
Institutional ownership of Century Aluminum Co. (NASDAQ: CENX) shares accounts for 59.26% of the company’s 92.32M shares outstanding. Mutual fund holders own 37.03%, while other institutional holders and individual stakeholders account for 75.76% and 22.31% respectively.
It has a market capitalization of $1.08B and a beta (3y monthly) value of 2.71. The earnings-per-share (ttm) stands at -$2.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.62% over the week and 6.69% over the month.
Analysts forecast that Century Aluminum Co. (CENX) will achieve an EPS of $0.04 for the current quarter, -$0.12 for the next quarter and -$0.02 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.28 while analysts give the company a high EPS estimate of $0.36. Comparatively, EPS for the current quarter was -$0.31 a year ago. Earnings per share for the fiscal year are expected to decrease by -155.77%, and 493.10% 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 Co. (CENX) as a “Moderate Buy” at a consensus score of 2.33. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 2 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 Buy rating for the stock in a research note on January 09, 2024, with the firm’s price target at $10-$14.
