27 JULY 2012Daily Political
JPMorgan Chase Sets Century Aluminum Company Price Target at $7.00
Edited by : AL CIRCLE
2 min read
JPMorgan Chase increased their price target on shares of Century Aluminum Company (NASDAQ: CENX) from $6.00 to $7.00 in a research note issued on Wednesday.
The analysts wrote, “Century continues to successfully turn around its two domestic smelters and for the second quarter in a row, we lift our earnings estimates and price target to reflect moderating operating cost pressures. The company should also continue to realize robust Midwest premiums as low interest rates, long warehouse queues, and strong demand keep physical markets tight. However, Century needs to restructure its domestic power contracts to achieve sustained profitability. While management obtained some power relief at Mt. Holly and extended negotiations one year, Hawesville is presently cash cost negative while the Ravenswood re-start will not take flight without a favorable power deal.”
A number of other analysts have also recently weighed in on CENX. Analysts at Credit Suisse downgraded shares of Century Aluminum Company from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, July 11th. Analysts at BMO Capital Markets downgraded shares of Century Aluminum Company from a “market perform” rating to an “underperform” rating in a research note to investors on Wednesday, July 11th.
Shares of Century Aluminum Company traded down 2.53% during mid-day trading on Wednesday, hitting $5.78. Century Aluminum Company has a one year low of $5.85 and a one year high of $14.13. The company’s market cap is $511.2 million.
Century Aluminum Company last issued its quarterly earnings data on Tuesday, July 24th. The company reported ($0.14) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.13) by $0.01. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. Analysts expect that Century Aluminum Company will post $-0.35 EPS for the current fiscal year.
Century Aluminum Company (Century) is engaged in producing aluminum. The primary aluminum capacity includes the facility in Grundartangi, Iceland with capacity of 260,000 metric tons per year (mtpy), the facility in Hawesville, Kentucky (Hawesville) with capacity of 244,000 mtpy; a facility in Ravenswood, West Virginia (Ravenswood), currently curtailed, with capacity of 170,000 mtpy; and a 49.
The analysts wrote, “Century continues to successfully turn around its two domestic smelters and for the second quarter in a row, we lift our earnings estimates and price target to reflect moderating operating cost pressures. The company should also continue to realize robust Midwest premiums as low interest rates, long warehouse queues, and strong demand keep physical markets tight. However, Century needs to restructure its domestic power contracts to achieve sustained profitability. While management obtained some power relief at Mt. Holly and extended negotiations one year, Hawesville is presently cash cost negative while the Ravenswood re-start will not take flight without a favorable power deal.”
A number of other analysts have also recently weighed in on CENX. Analysts at Credit Suisse downgraded shares of Century Aluminum Company from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, July 11th. Analysts at BMO Capital Markets downgraded shares of Century Aluminum Company from a “market perform” rating to an “underperform” rating in a research note to investors on Wednesday, July 11th.
Shares of Century Aluminum Company traded down 2.53% during mid-day trading on Wednesday, hitting $5.78. Century Aluminum Company has a one year low of $5.85 and a one year high of $14.13. The company’s market cap is $511.2 million.
Century Aluminum Company last issued its quarterly earnings data on Tuesday, July 24th. The company reported ($0.14) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.13) by $0.01. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. Analysts expect that Century Aluminum Company will post $-0.35 EPS for the current fiscal year.
Century Aluminum Company (Century) is engaged in producing aluminum. The primary aluminum capacity includes the facility in Grundartangi, Iceland with capacity of 260,000 metric tons per year (mtpy), the facility in Hawesville, Kentucky (Hawesville) with capacity of 244,000 mtpy; a facility in Ravenswood, West Virginia (Ravenswood), currently curtailed, with capacity of 170,000 mtpy; and a 49.
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