Century Aluminum Co. (NASDAQ: CENX) stock jumped 3.46% on Monday to $8.07 against a previous-day closing price of $7.80. With 1.88 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.13 million shares. During the session, the Aluminum company that operates in wider Basic Materials sector, reached to the highest price of $8.31 whereas the lowest price it dropped to was $7.82. The 52-week range on CENX shows that it touched its highest point at $12.97 and its lowest point at $5.70 during that stretch. It currently has a 1-year price target of $7.33. Beta for the stock currently stands at 2.62.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CENX was up-trending over the past week, with a rise of 19.91%, but this was up by 32.95% over a month. Three-month performance surged to 1.89% while six-month performance fell -1.94%. The stock lost -3.81% in the past year, while it has lost -1.34% so far this year. A look at the trailing 12-month EPS for CENX yields -2.04 with Next year EPS estimates of 0.04. For the next quarter, that number is -0.19. This implies an EPS growth rate of -246.32% for this year and 110.09% for next year.
Float and Shares Shorts:
At present, 92.32 million CENX shares are outstanding with a float of 51.77 million shares on hand for trading. On Oct 30, 2023, short shares totaled 10.02 million, which was 10.85% higher than short shares on Sep 28, 2023. In addition to Mr. Jesse E. Gary as the firm’s President, CEO & Director, Mr. Gerald C. Bialek serves as its Executive VP & CFO.
Through their ownership of 58.85% of CENX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 76.01% of CENX, in contrast to 36.81% held by mutual funds. Shares owned by individuals account for 22.54%. As the largest shareholder in CENX with 10.21% of the stake, BlackRock Fund Advisors holds 9,427,513 shares worth 9,427,513. A second-largest stockholder of CENX, SSgA Funds Management, Inc., holds 6,281,440 shares, controlling over 6.80% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CENX, holding 5,698,357 shares or 6.17% stake. With a 4.82% stake in CENX, the SPDR S&P Metals & Mining ETF is the largest stakeholder. A total of 4,454,918 shares are owned by the mutual fund manager. The iShares Core S&P Small Cap ETF, which owns about 3.78% of CENX stock, is the second-largest Mutual Fund holder. It holds 3,494,693 shares valued at 23.1 million. iShares Tr. – US Infrastructure E holds 1.86% of the stake in CENX, owning 1,720,045 shares worth 11.37 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CENX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CENX analysts setting a high price target of $9.00 and a low target of $6.00, the average target price over the next 12 months is $7.33. Based on these targets, CENX could surge 11.52% to reach the target high and fall by -25.65% to reach the target low. Reaching the average price target will result in a decline of -9.17% from current levels.
Summary of Insider Activity:
Insiders traded CENX stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 19,790 shares were bought while 0 shares were sold. The number of buy transactions has increased to 22 while that of sell transactions has risen to 14 over the past year. The total number of shares bought during that period was 1,053,688 while 27,704,236 shares were sold.