Century Aluminum Company (CENX) - NASDAQ
  • Dec. 1, 2015, 3:23 PM
    • Century Aluminum (CENX +8.7%) is higher after South Carolina power utility Santee Cooper rejected a request to allow a CENX aluminum plant to buy cheaper power from out of state, a step that raises the likelihood of the plant's closure at the end of the year.
    • According to officials, the CENX facility in Mount Holly, S.C., offered to pay Santee Cooper ~$60M in transmission fees over the next five years so the smelter could buy the cheaper power elsewhere.
    • Santee Cooper maintained that other customers would have to foot the bill if they granted CENX's request.
    | Dec. 1, 2015, 3:23 PM | 5 Comments
  • Nov. 20, 2015, 8:34 PM
    • Century Aluminum (NASDAQ:CENX) is in talks with U.S. authorities over options for slowing a flood of cheap metal imports from China, including a trade case that could bring the escalating dispute to a head, CEO Michael Bless tells Reuters.
    • CENX soon will have standing to petition the U.S. International Trade Commission on its own to bring a case, Bless says, adding that a move against China could come soon, possibly with the support of the United Steelworkers union.
    • To petition the ITC to bring a trade case, a party must represent 25% of domestic production or workers in an industry; if current planned smelter curtailments go through, CENX would produce more than 30% of U.S. aluminum output.
    | Nov. 20, 2015, 8:34 PM | 5 Comments
  • Nov. 9, 2015, 12:27 PM
    • Alcoa (AA -6%) and Century Aluminum (CENX -8.9%) are downgraded to Neutral from Buy at Nomura, which expects primary aluminum surplus to persist through 2017, holding down prices lower for longer.
    • While Alcoa has fallen 43% YTD, Nomura thinks valuation uplift from AA’s planned split will fall short of market expectations and sees downside to the company’s shares based on its pro forma sum of the parts analysis.
    • The firm cuts its stock price target for Alcoa to $8 from $14, believing the market seems to be awarding too much value to the company’s downstream businesses.
    • Nomura reduces its CENX price target to $4 from $12, saying structurally depressed primary aluminum values could remain under pressure in the coming years, which would weigh even more heavily on CENX since it is a pure-play smelter.
    | Nov. 9, 2015, 12:27 PM | 28 Comments
  • Oct. 29, 2015, 5:36 PM
    | Oct. 29, 2015, 5:36 PM | 16 Comments
  • Oct. 29, 2015, 4:25 PM
    • Century Aluminum (NASDAQ:CENX): Q3 EPS of -$0.48 misses by $0.21.
    • Revenue of $454.5M (-9.2% Y/Y) beats by $10.86M.
    • Shares -3.5%.
    | Oct. 29, 2015, 4:25 PM
  • Oct. 28, 2015, 5:35 PM
  • Oct. 22, 2015, 6:05 PM
    • Century Aluminum (NASDAQ:CENX) says it will close its Mount Holly smelter in South Carolina at the end of the year if it does not get a new "competitively priced" power contract.
    • CENX's current power deal with the state's Public Service Authority will expire on Dec. 31, and the company says rates there are the highest paid by any U.S. smelter.
    • The regulator says weak aluminum prices, not high power costs, are the reason CENX is threatening to close the plant.
    • The Mount Holly smelter has a capacity of 224K oz./year and employs ~600 workers.
    | Oct. 22, 2015, 6:05 PM | 3 Comments
  • Oct. 9, 2015, 12:43 PM
    | Oct. 9, 2015, 12:43 PM | 6 Comments
  • Oct. 5, 2015, 6:25 PM
    • Allegheny Tech (NYSE:ATI) and Nucor (NYSE:NUE) are upgraded to Buy from Hold, while AK Steel (NYSE:AKS) and Century Aluminum (NASDAQ:CENX) are downgraded to Hold from Buy at Deutsche Bank, as the firm prefers stocks in the group that do not rely excessively on price hikes and have exposure to growth markets.
    • The firm says the upgrades for ATI and NUE are based on valuation, and expects lower anticipated scrap costs to offset the impact of lower steel prices.
    • AKS is cut to Hold with a $3 price target, citing its reliance on hikes in spot steel prices over the next 12-18 months as well as uncertainty related to contract negotiations with automotive customers, which accounts for more than 50% of shipments.
    • Deutsche Bank's downgrade of CENX is based on lower aluminum pricing and production cutbacks as concern areas.
    | Oct. 5, 2015, 6:25 PM | 3 Comments
  • Sep. 17, 2015, 2:22 PM
    • A U.S. aluminum industry trade group calls on federal authorities to investigate allegations that Chinese aluminum producers are improperly labeling their exports, flooding the market and driving down global prices.
    • The call marks the body's strongest official condemnation yet of China's exports to the U.S.
    • China's exports have angered producers such as Alcoa (NYSE:AA), whose CEO has publicly criticized "fake-semis," referring to allegations that China has mislabeled exports as semi-fabricated aluminum in order to evade an export tax on primary aluminum.
    • Century Aluminum (NASDAQ:CENX) announced plans to idle its Hawesville, Ky., smelter last month, a move it blamed on "the improper export of heavily subsidized Chinese aluminum products."
    | Sep. 17, 2015, 2:22 PM | 9 Comments
  • Sep. 3, 2015, 5:36 PM
    • Top gainers, as of 5.25 p.m.: ENVI +11.0%. RIG +3.6%. BLOX +3.0%. CENX +2.2%. AU +2.0%.
    • Top losers, as of 5.25p.m.: VNCE -29.0%. UTIW -15.7%. CLLS -3.0%. PAY -2.2%. RRD -2.2%.
    | Sep. 3, 2015, 5:36 PM
  • Aug. 28, 2015, 10:58 AM
    • Century Aluminum (CENX -0.7%) pulls back slightly from yesterday's 24% boost, as investors rewarded the company's recent decisions to idle (Hawesville) and permanently close (Ravenswood) operations that are losing cash.
    • Deutsche Bank’s Jorge Beristain maintains a Buy rating on the stock while reducing his price target from $19 to $10, expecting reduced overhead costs to ease the cash strain on U.S. smelters and result in improved profitability once aluminum prices recover.
    • Grundartangi in Iceland remains CENX’s only profitable smelter at current prices, with the Sebree and Mt. Holly smelters in the U.S. essentially offering optionality for the time when aluminum prices recover.
    | Aug. 28, 2015, 10:58 AM | 1 Comment
  • Aug. 25, 2015, 4:58 PM
    • Century Aluminum (NASDAQ:CENX) says it will idle its Hawesville, Ky., smelter beginning Oct. 24, blaming "Chinese overcapacity and the improper export of heavily subsidized Chinese aluminum products [which] have undercut an otherwise viable plant."
    • The plant, which can produce 255K metric tons/year of aluminum, is operating at ~80% of capacity and employs ~565 employees.
    | Aug. 25, 2015, 4:58 PM | 5 Comments
  • Aug. 11, 2015, 11:35 AM
    | Aug. 11, 2015, 11:35 AM | 22 Comments
  • Aug. 7, 2015, 12:44 PM
    | Aug. 7, 2015, 12:44 PM
  • Aug. 6, 2015, 4:08 PM
    • Century Aluminum (NASDAQ:CENX): Q2 EPS of $0.25 misses by $0.02.
    • Revenue of $523.5M (+14.2% Y/Y) misses by $19.66M.
    | Aug. 6, 2015, 4:08 PM
Company Description
Century Aluminum Co. engages in the management of plants and manufacture of aluminum products. It produces ingots, billets, and alloys. The company was founded in 1995 and is headquartered in Chicago, IL.
Industry: Aluminum
Country: United States