Yahoo Finance Here's Why Century Aluminum (CENX) is a Strong Momentum Stock
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Century Aluminum (CENX)
Chicago-based Century Aluminum Company is engaged in the production of primary aluminum in the United Sates and Iceland. The company produces standard grade and value-added primary aluminum products as well as carbon products such as anodes and cathodes. Century Aluminum recorded revenues of around $2,185.4 million in 2023. Total shipments in 2023 were 700,680 tons. It operates through one reportable segment – Primary Aluminum.
CENX is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of B and VGM Score of B. Shares are up 2.1% over the past one week and up 9% over the past four weeks. CENX has gained 112.4% in the last one-year period as well. Looking at trading volume, an average of 1,109,094.38 shares exchanged hands over the last 20 trading days.
Momentum investors also pay close attention to a company's earnings. For CENX, one analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $3.26 to $3.10 per share for 2024. CENX boasts an average earnings surprise of 97.5%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding CENX to their portfolios.
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Century Aluminum Company (CENX) : Free Stock Analysis Report
