J.P. Morgan Downgrades Century Aluminum to Hold

By Jason Carr

In a report released today, Michael Gambardella from J.P. Morgan downgraded Century Aluminum (NASDAQ: CENX) to Hold. The company’s shares opened today at $14.11.

According to TipRanks.com, Gambardella is a 5-star analyst with an average return of 21.6% and a 68.0% success rate. Gambardella covers the Basic Materials sector, focusing on stocks such as Allegheny Technologies, Teck Resources Limited, and Worthington Industries.

Currently, the analyst consensus on Century Aluminum is Moderate Buy and the average price target is $18.50, representing a 31.1% upside.

In a report issued on October 27, BMO Capital also maintained a Hold rating on the stock with a $16 price target.

Based on Century Aluminum’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $401 million and quarterly net profit of $20.78 million. In comparison, last year the company earned revenue of $334 million and had a GAAP net loss of $58.27 million.

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Century Aluminum Co. is a producer of aluminum and operates aluminum reduction facilities producer of primary aluminum and operates aluminum reduction facilities, or smelters, in the United States and Iceland. Its products include standard ingots, T-ingot, extrusion billet, horizontal direct chill ingot, molten, slab, and sow.