CENTURY ALUMINUM Closes Higher, Analysts Think Company Has Potential For A Raise

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On Friday, October 21, the trading price of Century Aluminum ($NASDAQ:CENX) Company closed higher at $6.78, 8.13% higher than its previous close. This has led analysts to believe that the company has potential for a raise. The company operates mines and smelters in three states, Alaska, Indiana, and Kentucky. its customers include aluminum sheet, can sheet, foil, automotive, and other producers. The higher close on Friday may be due to the company’s strong third-quarter results.

The company’s strong results were driven by higher aluminum prices and increased production at its mines. Century Aluminum’s CEO Mike Bless said that the company is “well-positioned to benefit from improving aluminum markets.” Analysts think that the company’s strong results and positive outlook could lead to a raise in its stock price.

Market Price

Analysts are predicting that CENTURY ALUMINUM will receive a raise soon, due to the company’s recent stock performance. On Tuesday, CENTURY ALUMINUM stock opened at $6.5 and closed at $7.0, a 6.1% increase from the previous closing price of $6.6. This surge indicates that investors are confident in the company’s future, and believe that it is poised for further growth. As a result, analysts believe that a raise is likely in the near future.

VI Analysis

Based on the company’s fundamentals, below analysis on CENTURY ALUMINUM are made simple by VI app. Based on the company’s fundamentals, the VI app has given CENTURY ALUMINUM a “buy” rating.

VI Peers

The company’s main competitors are Tianshan Aluminum Group Co Ltd, Noranda Aluminum Holding Corp, and Nanjing Yunhai Special Metals Co Ltd.

– Tianshan Aluminum Group Co Ltd ($SZSE:002532)

Tianshan Aluminum Group Co Ltd is a Chinese aluminum producer. The company has a market cap of 30.98B as of 2022 and a Return on Equity of 16.7%. Tianshan Aluminum Group Co Ltd produces aluminum products for a variety of industries including construction, transportation, and packaging. The company has a strong presence in China and also exports its products to over 50 countries around the world.

– Noranda Aluminum Holding Corp ($OTCPK:NORNQ)

Noranda Aluminum Holding Corp is a Canada-based company that is engaged in the production of aluminum products. The Company operates through two segments: primary aluminum and alumina. The Company’s primary aluminum segment smelts and refines primary aluminum. The Company’s alumina segment mines, refines and markets alumina. The Company’s products include primary aluminum, alumina, aluminum fluoride, aluminum chloride and sodium aluminum fluoride.

– Nanjing Yunhai Special Metals Co Ltd ($SZSE:002182)

Nanjing Yunhai Special Metals Co Ltd is a Chinese company that manufactures and sells specialty metals. It has a market capitalization of 14.83 billion as of 2022 and a return on equity of 18.83%. The company produces a variety of metals such as titanium, zirconium, nickel, and tungsten. It also manufactures and sells a variety of products made from these metals, such as pipes, tubing, and fittings. The company has a strong presence in China and Asia, and its products are used in a variety of industries including aerospace, chemical processing, and oil and gas.

Summary

Aluminum is one of the most widely used metals in the world, and its popularity is only increasing. As a result, investing in companies that produce aluminum, like CENTURY ALUMINUM, can be a smart move. Aluminum is strong yet lightweight, making it ideal for a variety of applications, from construction to transportation. It is also highly recyclable, which makes it an environmentally friendly option.

Investing in CENTURY ALUMINUM can be a good way to profit from the growing demand for aluminum. The company has a strong track record and is well-positioned to benefit from the continued growth in the aluminum industry.