Mountaineer Partners Management LLC Acquires 21,510,639 Shares of Century Aluminum (NASDAQ:CENX)

Mountaineer Partners Management LLC increased its position in shares of Century Aluminum (NASDAQ:CENX) by 1,607.1% during the 3rd quarter, Holdings Channel reports. The firm owned 22,849,097 shares of the industrial products company’s stock after acquiring an additional 21,510,639 shares during the period. Century Aluminum comprises 3.1% of Mountaineer Partners Management LLC’s investment portfolio, making the stock its 11th biggest position. Mountaineer Partners Management LLC owned about 0.25% of Century Aluminum worth $370,841,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in Century Aluminum by 125.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 531,679 shares of the industrial products company’s stock valued at $8,906,000 after acquiring an additional 296,101 shares during the last quarter. Aristeia Capital L.L.C. purchased a new position in Century Aluminum during the 2nd quarter valued at approximately $681,000. SG Americas Securities LLC purchased a new stake in shares of Century Aluminum during the 3rd quarter worth approximately $475,000. Principal Financial Group Inc. boosted its position in shares of Century Aluminum by 17.0% during the 3rd quarter. Principal Financial Group Inc. now owns 301,992 shares of the industrial products company’s stock valued at $4,901,000 after acquiring an additional 43,881 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in shares of Century Aluminum in the second quarter valued at $704,000. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

Century Aluminum Price Performance

NASDAQ:CENX opened at $23.94 on Wednesday. The stock has a 50 day moving average of $19.01 and a two-hundred day moving average of $16.89. The company has a current ratio of 1.71, a quick ratio of 0.56 and a debt-to-equity ratio of 0.71. The firm has a market cap of $2.22 billion, a P/E ratio of 8.01 and a beta of 2.50. Century Aluminum has a 12 month low of $7.28 and a 12 month high of $25.39.

Century Aluminum (NASDAQ:CENX) last issued its earnings results on Monday, November 4th. The industrial products company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.31. The company had revenue of $539.10 million for the quarter, compared to the consensus estimate of $587.10 million. Century Aluminum had a net margin of 14.60% and a return on equity of 11.37%. During the same period in the previous year, the firm earned ($0.13) earnings per share. On average, analysts expect that Century Aluminum will post 0.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

CENX has been the topic of a number of research reports. B. Riley upped their target price on shares of Century Aluminum from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. StockNews.com upgraded shares of Century Aluminum from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. BMO Capital Markets raised their target price on shares of Century Aluminum from $16.00 to $18.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Finally, Wolfe Research upgraded Century Aluminum from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a research note on Tuesday.

Century Aluminum Profile

Century Aluminum Company, together with its subsidiaries, engages in the production of standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates an alumina production facility in Iceland, and a carbon anode production facility in the Netherlands.