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Why Century Aluminum Company (NASDAQ: CENX) Stock Should Not Be Taken For Granted By Investors In 2022

In the last trading session, 3.2 million shares of the Century Aluminum Company (NASDAQ:CENX) were traded, and its beta was 2.52. Most recently the company’s…

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This article was originally published by The Marketing Sentinal

In the last trading session, 3.2 million shares of the Century Aluminum Company (NASDAQ:CENX) were traded, and its beta was 2.52. Most recently the company’s share price was $6.26, and it changed around $0.98 or 18.66% from the last close, which brings the market valuation of the company to $700.30M. CENX currently trades at a discount to its 52-week high of $30.36, offering almost -384.98% off that amount. The share price’s 52-week low was $5.27, which indicates that the current value has risen by an impressive 15.81% since then. We note from Century Aluminum Company’s average daily trading volume that its 10-day average is 2.5 million shares, with the 3-month average coming to 1.95 million.

Century Aluminum Company stock received a consensus recommendation rating of a Hold, based on a mean score of 2.70. If we narrow it down even further, the data shows that 1 out of 3 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended CENX as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Century Aluminum Company is expected to report earnings per share of $0.21 for the current quarter.

Century Aluminum Company (NASDAQ:CENX) trade information

Instantly CENX has showed a green trend with a performance of 18.66% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 6.63 on Monday, 10/03/22 increased the stock’s daily price by 5.58%. The company’s shares are currently down -62.17% year-to-date, but still up 8.58% over the last five days. On the other hand, Century Aluminum Company (NASDAQ:CENX) is -14.99% up in the 30-day period. We can see from the shorts that 7.42 million shares have been sold at a short interest cover period of 3.06 day(s).

The consensus price target as assigned by Wall Street analysts is $8.67, which translates to bulls needing to increase their stock price by 27.8% from its current value. Analyst projections state that CENX is forecast to be at a low of $4.00 and a high of $15.00. In order for the stock price to hit the forecast high, the stock would need to plunge -139.62% from its current level, while the stock would need to crash 36.1% from its current level to reach the projected low.

Century Aluminum Company (CENX) estimates and forecasts

Century Aluminum Company share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -76.66 percent over the past six months and at a 351.61% annual growth rate that is well above the industry average of -1.20%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will gain 177.80% in revenue this quarter, and will report a decrease of -600.00% in the next quarter. The year-over-year growth rate is expected to be 30.60%, up from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $881 million in revenue for the current quarter. 2 analysts expect Century Aluminum Company to make $697.25 million in revenue for the quarter ending Sep 2022. Analysts predict that the company’s current quarter sales will jump, forecast at 62.70%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 8.60%.

CENX Dividends

Century Aluminum Company’s next quarterly earnings report is expected to be released around November 01 and November 07.

Century Aluminum Company (NASDAQ:CENX)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 43.78% of Century Aluminum Company shares, and 60.11% of them are in the hands of institutional investors. The stock currently has a share float of 106.93%. Century Aluminum Company stock is held by 275 institutions, with Blackrock Inc. being the largest institutional investor. By Mar 30, 2022, it held 9.03% of the shares, which is about 8.24 million shares worth $216.8 million.

Vanguard Group, Inc. (The), with 6.20% or 5.66 million shares worth $148.92 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.

SPDR (R) Ser Tr-SPDR (R) S&P (R) Metals & Mining ETF and iShares Core S&P Smallcap ETF were the top two Mutual Funds as of Jun 29, 2022. The former held 8.76 million shares worth $64.58 million, making up 9.60% of all outstanding shares. On the other hand, iShares Core S&P Smallcap ETF held roughly 3.63 million shares worth around $26.77 million, which represents about 3.98% of the total shares outstanding.


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