Gunnar Gudlaugsson, Executive Vice President of Global Operations at Century Aluminum Co (NASDAQ:CENX), which has seen its stock surge nearly 188% over the past year and maintains a GREAT financial health score according to InvestingPro, recently sold 20,000 shares of company stock. The transaction, which occurred on December 5, 2024, was executed at a price of $23.85 per share, resulting in a total sale value of $477,000. Following this sale, Gudlaugsson retains ownership of 107,932 shares, which includes unvested time-vested stock units granted under the company's Long-Term Incentive Plans. With a current P/E ratio of 6.84 and a market capitalization of $2.07 billion, InvestingPro analysis indicates the stock is currently overvalued. Discover more insights about insider trading patterns and access 10 additional ProTips for CENX through InvestingPro's comprehensive research reports.
In other recent news, Century Aluminum has seen several significant developments. The company reported robust third-quarter earnings, with an adjusted EBITDA of $104 million, primarily driven by enhanced aluminum prices and the benefit of new Section 45X tax credits. Furthermore, the company recorded shipments of approximately 169,000 tons and net sales of $539 million.
Wolfe Research upgraded Century Aluminum's shares from Peerperform to Outperform, setting a new price target of $27.00, reflecting a positive outlook based on higher commodity price forecasts for aluminum. Additionally, BMO Capital adjusted its price target on the company's shares to $18.00, up from the previous $16.00, while maintaining a Market Perform rating.
Century Aluminum's fourth-quarter EBITDA is expected to increase to $82 million, up from the previously estimated $73 million, according to Wolfe Research. The company provided an EBITDA guidance range of $70 million to $80 million for the fourth quarter.
Century Aluminum is also exploring strategic alternatives for the idled Hawesville smelter, which could impact future operations and financial outcomes. The company is considering the potential redevelopment of its Hawesville facility and evaluating the competitive cost structure of the Jamalco alumina asset. These are among the recent developments that investors are closely watching.
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