|Bid||16.15 x 1200|
|Ask||17.43 x 800|
|Day's range||16.90 - 17.40|
|52-week range||12.94 - 24.77|
|PE ratio (TTM)||25.54|
|Earnings date||31 Jul 2018 - 6 Aug 2018|
|Forward dividend & yield||N/A (N/A)|
|1y target est||22.17|
B. Riley initiated coverage on aluminum makers on Thursday, preferring Century Aluminum (CENX) over Alcoa (AA). Analyst Lucas Pipes launched coverage of Alcoa with a Neutral rating and a $47 price target. Pipes writes that alumina prices have been elevated on "unique events," which is an oblique way of referring to tariffs.
While aluminum prices are volatile, premiums tend to be sticky. The Section 232 tariffs have lifted US Midwest aluminum premiums, which should boost earnings of companies like Alcoa (AA) and Century Aluminum. Secondly, alumina prices (RIO) (XME) have already fallen to more normalized levels after Alunorte curtailment and RUSAL sanctions lifted prices to multiyear highs.
US-based aluminum producers including Alcoa (AA) and Century Aluminum (CENX) are trading with double-digit year-to-date losses despite the Section 232 tariffs President Trump imposed. Aluminum markets have been rattled by higher Chinese aluminum exports. China’s unwrought aluminum exports rose 12.8% in the first five months of the year and hit the second-highest level on record in May. Higher Chinese aluminum exports tend to put pressure on aluminum prices.
Century Aluminum (CENX) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
If the United States finally imposes import duty on steel and aluminum from EU, Canada and Mexico, these countries are likely to take retaliatory measures.
Century intends to make future announcements regarding Company developments and financial performance through its website, www.centuryaluminum.com. Century Aluminum Company owns primary aluminum capacity in the United States and Iceland. Century's corporate offices are located in Chicago, IL.
NEW YORK, May 30, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Crown ...
In the previous article, we looked at some of Alcoa’s (AA) bullish drivers. Chinese overcapacity is still among the biggest challenges for aluminum producers such as Rio Tinto (RIO) and Norsk Hydro (NHYDY). Chinese aluminum exports have been elevated this year despite President Donald Trump’s Section 232 tariffs.
Although aluminum and alumina have retreated from their 2018 highs after President Donald Trump softened the RUSAL sanctions, global aluminum and alumina markets are expected to be in a deficit by some observers, including companies such as Alcoa. Alumina prices are also being supported by the partial shutdown of Norsk Hydro’s (NHYDY) Alunorte refinery. Aluminum prices might also take support from higher alumina prices (XME).
Alcoa (AA) is having a dismal run in 2018. The stock is trading at a YTD (year-to-date) fall of 9.8% based on its May 23 closing price.
President Trump imposed tariffs on US steel and aluminum imports in March. The move was intended to boost domestic steel and aluminum producers. However, despite the tariffs, US steel and aluminum stocks like U.S. Steel (X), AK Steel (AKS), Century Aluminum (CENX), and Alcoa (AA) are sagging this year. In this article, we’ll see how the Section 232 tariffs could test President Trump’s mettle.
NEW YORK, May 17, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Agios ...
Shares of Century Aluminum Co. were knocked 9.5% lower in morning trade Friday, despite first-quarter results that beat earnings and revenue expectations, as J.P. Morgan downgraded the aluminum company, citing higher alumina costs. Analyst Michael Gambardella cut his rating to neutral, less than two months after upgrading the stock to overweight. Gambardella still believes the tariffs announced on March 1 on aluminum and steel imports will benefit Century over the near to medium term, but "potential alumina shortages from the Alunorte refinery outage and the uncertainty surrounding U.S. sanctions on Russia could cause alumina prices to remain elevated for a period of time." The stock has now plunged 27.5% since President Trump announced the tariffs on March 1, while the S&P 500 has slipped 1.1%.
Century Aluminum (CENX) posted its 1Q18 earnings after the market closed on May 3. While the company’s shipments fell slightly over the period, they were offset by higher realized aluminum prices amid higher US aluminum premiums (XME) (RIO). Despite higher average realized prices, Century Aluminum’s earnings fell on a sequential basis in 1Q18.
Century Aluminum's (CENX) Q1 results were favorably impacted by a $3.2-million benefit from lower of cost or net realizable value inventory adjustments.
The global aluminum industry has witnessed increased uncertainty this year. Analysts have been scratching their heads trying to predict how much aluminum China would consume—and more importantly how much of its excess produce it would sell in global markets. Now, we have President Donald Trump calling the shots in aluminum markets.
The Chicago-based company said it had a loss of less than 1 cent on a per-share basis. Losses, adjusted for non-recurring gains, were 4 cents per share. The results surpassed Wall Street expectations. ...
CHICAGO, May 03, 2018-- Century Aluminum Company today announced first quarter 2018 results.. First Quarter 2018 Financial Results. Net loss of $0.3 million, or $0.00 per diluted share Adjusted net loss ...
Strong prospects in Game & Network Services as well as Home Entertainment & Sound business are likely to prove conducive to Sony's (SNE) fourth-quarter fiscal 2017 earnings.
Electrolux also delayed a $250 million US expansion after Donald Trump proposed the tariffs. Alcoa (AA) and Century Aluminum (CENX) rallied sharply as aluminum rose to multiyear highs. Century Aluminum had announced a plant restart after Trump slapped tariffs on aluminum imports in March.