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Why Century Aluminum Stock Plunged 16% Today

Why Century Aluminum Stock Plunged 16% Today

Century Aluminum (NASDAQ: CENX) stock plunged today and was trading down 13.8% as of 1 p.m. ET Wednesday. Aluminum prices seem to have bottomed after tumbling since March, but one analyst just slashed Century Aluminum stock's price target by more than 50%. Analyst Timna Tanners from Wolfe Research downgraded Century Aluminum's rating to "peer perform" from outperform and cut the aluminum stock's target price drastically to $14 a share from $30 per share, according to TheFly.com.