U.S. Steel (X), Century Aluminum Company (CENX), LDK Solar (LDK), Potash (POT), Statoil (STO), Concho Resources Inc. (CXO), Canadian National Railway (CNI) and First Solar, Inc. (FSLR) had ratings and price targets on them adjusted by analysts.
Macquarie upgraded U.S. Steel (X) from an "Underperform" rating to a "Neutral" rating.
Bank of America upgraded Century Aluminum Company (CENX) from an "Underperform" rating to a "Neutral" rating.
Auriga upgraded LDK Solar (LDK) from a "Sell" rating to a "Hold" rating.
Atlantic Equities downgraded Potash (POT) from an "Overweight" rating to a "Neutral" rating.
BNP Paribas upgraded Statoil (STO) from an "Underperform" rating to a "Outperform" rating.
Societe Generale initiated coverage on Concho Resources Inc. (CXO). They placed a "Buy" rating on the company.
Raymond James upgraded Canadian National Railway (CNI) from a "Market Perform" rating to a "Outperform" rating.
Maxim Group downgraded First Solar, Inc. (FSLR) from a "Hold" rating to a "Sell" rating.
Showing posts with label Century Aluminum. Show all posts
Showing posts with label Century Aluminum. Show all posts
Wednesday, April 25, 2012
Monday, December 20, 2010
Goldman (NYSE:GS) Initiates Coverage on Century Aluminum (NASDAQ:CENX)
Goldman Sachs (NYSE:GS) has launched coverage on Century Aluminum (NASDAQ:CENX), starting them off with a "Sell" rating and a price target of $14 a share.
Reasons for the "Sell" rating were the strong leverage Century has in aluminum, and the loss of the power contract refund they were able to implement in 2010.
The ongoing weakness in supply and demand fundamentals was also a key reason, and aluminum prices in 2011 aren't expected to do much at all to help those heavily exposed to the metal.
Century Aluminum closed Friday at $16.11, down $0.02, or 0.12 percent.
Reasons for the "Sell" rating were the strong leverage Century has in aluminum, and the loss of the power contract refund they were able to implement in 2010.
The ongoing weakness in supply and demand fundamentals was also a key reason, and aluminum prices in 2011 aren't expected to do much at all to help those heavily exposed to the metal.
Century Aluminum closed Friday at $16.11, down $0.02, or 0.12 percent.
Friday, November 5, 2010
Alcoa (NYSE:AA), Century (NASDAQ:CENX), Kaiser (NASDAQ:KALU), Noranda (NYSE:NOR) Soar on Fed QE
Alcoa Inc. (NYSE:AA), Century Aluminum Company (NASDAQ:CENX), Kaiser Aluminum Corp. (NASDAQ:KALU), Noranda Aluminum Holding Corporation (NYSE:NOR) soared on the inflationary steps taken by the Federal Reserve, which will dilute the U.S. dollar even more via its $600 billion quantitative easing fiasco.
Commodities, which are denominated, for the most part, in U.S. dollars, will benefit strongly from this, and aluminum companies mentioned above, and others, will partake in that benefit.
Aluminum prices rose to their highest level since April, reaching about $2,450 a ton.
Higher commodity prices, in whatever segment they're in, can overcome a lot of resistance and operational problems, and that is the case with aluminum and aluminum producers, who are poised to move up in share price based on the expected and ongoing rise in aluminum prices.
Commodities, which are denominated, for the most part, in U.S. dollars, will benefit strongly from this, and aluminum companies mentioned above, and others, will partake in that benefit.
Aluminum prices rose to their highest level since April, reaching about $2,450 a ton.
Higher commodity prices, in whatever segment they're in, can overcome a lot of resistance and operational problems, and that is the case with aluminum and aluminum producers, who are poised to move up in share price based on the expected and ongoing rise in aluminum prices.
Monday, October 11, 2010
Alcoa (NYSE:AA) Helps Century (NASDAQ:CENX), Alumina (NYSE:AWC) Soar on Quarterly Results, Guidance
Although there are a lot of uncertainties remaining in the aluminum market, that didn't stop investors from pushing up the share prices of Alcoa Inc. (NYSE:AA), Alumina Limited (NYSE:AWC) and Century Aluminum Company (NASDAQ:CENX).
Alcoa beat revenue estimates and increased their aluminum demand outlook.
Alcoa closed the week at $12.89, gaining $0.69, or 5.66 percent on Friday. Century Aluminum ended the session at $13.99, rising $0.63, or 4.72 percent. Alumina surged $7.80, increasing $0.37, or 4.98 percent.
Among the top aluminum performers for the day was Noranda Aluminum Holding (NYSE:NOR), which rose to $10.08, gaining $0.89, or 9.68 percent.
Others in positive territory were Aluminum Corporation Of China Limited (NYSE:ACH). Reliance Steel and Aluminum (NYSE:RS) and Kaiser Aluminum (NASDAQ:KALU)
Aluminum Corporation closed at $24.79, rising $0.19, or 0.77 percent. Reliance finished the week at $43.89, gaining $1.44 on Friday, or 3.39 percent. Kaiser Aluminum ended the session at $44.38, an increase of $1.17, or 2.71 percent.
The market is starting to believe emerging markets can carry aluminum demand without much help from mature economies.
Alcoa beat revenue estimates and increased their aluminum demand outlook.
Alcoa closed the week at $12.89, gaining $0.69, or 5.66 percent on Friday. Century Aluminum ended the session at $13.99, rising $0.63, or 4.72 percent. Alumina surged $7.80, increasing $0.37, or 4.98 percent.
Among the top aluminum performers for the day was Noranda Aluminum Holding (NYSE:NOR), which rose to $10.08, gaining $0.89, or 9.68 percent.
Others in positive territory were Aluminum Corporation Of China Limited (NYSE:ACH). Reliance Steel and Aluminum (NYSE:RS) and Kaiser Aluminum (NASDAQ:KALU)
Aluminum Corporation closed at $24.79, rising $0.19, or 0.77 percent. Reliance finished the week at $43.89, gaining $1.44 on Friday, or 3.39 percent. Kaiser Aluminum ended the session at $44.38, an increase of $1.17, or 2.71 percent.
The market is starting to believe emerging markets can carry aluminum demand without much help from mature economies.
Tuesday, July 27, 2010
Century Aluminum (Nasdaq:CENX) Earnings in Positive Territory
Century Aluminum (Nasdaq:CENX) was profitable this second quarter, as it generated earnings of $5.1 million, or 5 cents a share. Last year in the same quarter the company was hammered by losses of $107.1 million, or $1.45 a share.
Even with the better performance, it was far below the estimated earnings average of 25 cents a share.
Revenue for the quarter rose to $287.9 million, a gain of 52 percent, coming short of the $292 million analysts were looking for.
The earnings results of the quarter came from forward contracts of $9.3 million connected, for the most part, to LME price protection options, according to Century.
Charges for the quarter included $16 million for energy costs at Hawesville, along with $7 million for market inventory adjustments.
Even with the better performance, it was far below the estimated earnings average of 25 cents a share.
Revenue for the quarter rose to $287.9 million, a gain of 52 percent, coming short of the $292 million analysts were looking for.
The earnings results of the quarter came from forward contracts of $9.3 million connected, for the most part, to LME price protection options, according to Century.
Charges for the quarter included $16 million for energy costs at Hawesville, along with $7 million for market inventory adjustments.
Monday, June 21, 2010
Alcoa (NYSE:AA), Century (Nasdaq:CENX) Increase on Yuan Floating Against U.S. Dollar
The announcement by China that they'll float the yuan against the U.S. dollar has caused shares in in Alcoa (NYSE:AA) and Century Aluminum Co. (Nasdaq:CENX), among other commodity companies, to surge today, based on the assumption the yuan will appreciate as a result.
This would of course help commodities which are traded in U.S. dollars.
With China by far the largest importer of a larger number of commodities, it would be beneficial for many companies, which would have their margins and earnings increase as a result.
The other side of the equation which no one is talking about today because of the temporary euphoria, is the consequences to these same companies if the yuan depreciates in value against the U.S. dollar, which would have the opposite effect.
The market believes this won't be the case, and until proven otherwise, in the near-term should help metals producers in general.
Alcoa was at $11.88 a share, a gain of $0.77, or 6.93 percent, as of 1:45 PM EDT, while Century Aluminum rose to $10.86, a gain of $0.82, or 8.17 percent, as of 1:45 PM EDT.
This would of course help commodities which are traded in U.S. dollars.
With China by far the largest importer of a larger number of commodities, it would be beneficial for many companies, which would have their margins and earnings increase as a result.
The other side of the equation which no one is talking about today because of the temporary euphoria, is the consequences to these same companies if the yuan depreciates in value against the U.S. dollar, which would have the opposite effect.
The market believes this won't be the case, and until proven otherwise, in the near-term should help metals producers in general.
Alcoa was at $11.88 a share, a gain of $0.77, or 6.93 percent, as of 1:45 PM EDT, while Century Aluminum rose to $10.86, a gain of $0.82, or 8.17 percent, as of 1:45 PM EDT.
Thursday, May 20, 2010
Alcoa (NYSE:AA), Century Aluminum (Nasdaq:CENX), Aluminum Corporation of China (NYSE:ACH) Fall as Global Production Surges
Alcoa (NYSE:AA), Century Aluminum (Nasdaq:CENX), Aluminum Corporation of China (NYSE:ACH) are all down today as the International Aluminium Institute announced aluminum production surged to a record last month to 112,500 metric tons a day.
This implies that there is a cutback in buying or demand, as there doesn't seem to be any news that would make that part of the aluminum business change.
It's possible the increase could also be in preparation of the introduction of the first aluminum ETFs, which are scheduled to launch sometime later in the year, or possibly in the early part of 2011.
Aluminum ETFs will store physical aluminum to back up their funds, creating a new market for the lightweight metal.
This implies that there is a cutback in buying or demand, as there doesn't seem to be any news that would make that part of the aluminum business change.
It's possible the increase could also be in preparation of the introduction of the first aluminum ETFs, which are scheduled to launch sometime later in the year, or possibly in the early part of 2011.
Aluminum ETFs will store physical aluminum to back up their funds, creating a new market for the lightweight metal.
Wednesday, May 12, 2010
Alumina (NYSE:AWC), Kaiser Aluminum (Nasdaq:KALU), Century Aluminum (Nasdaq:CENX) Could Rise on Demand from Aluminum ETFs
The entire aluminum industry, including companies like Alumina (NYSE:AWC), Kaiser Aluminum (Nasdaq:KALU) and Century Aluminum (Nasdaq:CENX) could all get a much needed boost from the introduction of aluminum ETFs, which would dramatically affect the demand for the metal, as ETFs are backed by the physical holding of aluminum.
Even though these companies may not participate in the providing of aluminum for the ETFs, the price of aluminum will increase, giving a boost to all of them.
This is good news for the industry, which has struggled recently because of the slowing demand for the lightweight metal.
India and China are expected to increase demand this year, and that could help, but if that does happen, and you add to that the new market to supply aluminum to ETFs, and the future has suddenly become much brighter for aluminum producers, as far as it relates to aluminum prices.
Even though these companies may not participate in the providing of aluminum for the ETFs, the price of aluminum will increase, giving a boost to all of them.
This is good news for the industry, which has struggled recently because of the slowing demand for the lightweight metal.
India and China are expected to increase demand this year, and that could help, but if that does happen, and you add to that the new market to supply aluminum to ETFs, and the future has suddenly become much brighter for aluminum producers, as far as it relates to aluminum prices.
Tuesday, May 11, 2010
Citigroup (NYSE:C) Talks Aluminum ETFS
Citigroup (NYSE:C) said today the price of aluminum could soar by as much as $500 a metric ton if plans to introduce aluminum-backed ETF funds comes to fruition. Companies like Alcoa (NYSE:AA), Century Aluminum (Nasdaq:CENX) and Alumina (NYSE:AWC) would be beneficiaries of those increased prices, as would investors in aluminum futures.
If the prices were to rise by that much because of the introduction of aluminum ETFs, it would represent an increase of aluminum prices of just under 25 percent.
Projections by Citigroup are based on aluminum customers from around the world having their aluminum held by an aluminum ETF for a two-week period, which would equal 1.4 million tons.
The price of aluminum has been down as demand has been slow in the difficult economic times.
If the prices were to rise by that much because of the introduction of aluminum ETFs, it would represent an increase of aluminum prices of just under 25 percent.
Projections by Citigroup are based on aluminum customers from around the world having their aluminum held by an aluminum ETF for a two-week period, which would equal 1.4 million tons.
The price of aluminum has been down as demand has been slow in the difficult economic times.
Alcoa (NYSE:AA), Century Aluminum (Nasdaq:CENX) Down on China Concerns
Alcoa (NYSE:AA) and Century Aluminum (Nasdaq:CENX) are down today as concerns over growing signals from China they are going to continue tighten fiscally has raw materials companies and investors concerned over the demand factor.
China has been raising interest rates can regulating their housing market in order to cool off the economy, which has become in danger of becoming a bubble that bursts.
Every commodity sector used for construction and building materials will be under pressure until the measures China takes, and their width and depth are more clear.
China has been raising interest rates can regulating their housing market in order to cool off the economy, which has become in danger of becoming a bubble that bursts.
Every commodity sector used for construction and building materials will be under pressure until the measures China takes, and their width and depth are more clear.
Monday, May 10, 2010
Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM) Gain on EU Bailout Loans
Chevron (NYSE:CVX) and Exxon Mobil (NYSE:XOM) were both up over 2 percent today as the news the European Union will offer close to $1 trillion in loans to battle the sovereign debt crisis.
Other sectors like the steel industry, with AK Steel (NYSE:AKS) and US Steel (NYSE:X) were also up big, while other raw material companies such as Alcoa Inc. (NYSE:AA) and Century Aluminum (NASDAQ:CENX) had big gains as well.
Copper and crude oil prices rose, while gold fell some as investors somewhat left it - temporarily - as a safe haven.
Goldcorp (NYSE:GG)Barrick Gold (NYSE:ABX) and Freeport-McMoRan (NYSE:FCX) were all up for the day, as of 1:00 P.M. EST.
Other sectors like the steel industry, with AK Steel (NYSE:AKS) and US Steel (NYSE:X) were also up big, while other raw material companies such as Alcoa Inc. (NYSE:AA) and Century Aluminum (NASDAQ:CENX) had big gains as well.
Copper and crude oil prices rose, while gold fell some as investors somewhat left it - temporarily - as a safe haven.
Goldcorp (NYSE:GG)Barrick Gold (NYSE:ABX) and Freeport-McMoRan (NYSE:FCX) were all up for the day, as of 1:00 P.M. EST.
Alcoa Inc. (NYSE:AA), Century Aluminum (NASDAQ:CENX), Up on Sovereign Debt Loan Package
Alcoa Inc. (NYSE:AA) and Century Aluminum (NASDAQ:CENX) have responded strongly to the news the European Union is going to offer a loan package for the sovereign debt crisis valued at close to $1 trillion.
When writing this Alcoa has surged by close to 3.5 percent while Century Aluminum rose by 7.77 percent.
The euro unsurprisingly gained strenght against the U.S. dollar while crude oil and copper rose early in the day as commodity investors liked the news.
When writing this Alcoa has surged by close to 3.5 percent while Century Aluminum rose by 7.77 percent.
The euro unsurprisingly gained strenght against the U.S. dollar while crude oil and copper rose early in the day as commodity investors liked the news.
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