Century Aluminum

Century Aluminum shares gained about 2.9% in premarket trading, triggered by 50% US tariffs on selected goods from Canada that sparked a rally in US steel and aluminum stocks. Analysts remain positive: UBS and BMO have issued buy ratings after Q2 surprised with a net profit of $249.3 million and roughly 20% revenue growth. Drivers included the restart of the Mt. Holly smelter and near-full utilization of Line 2 in Grundartangi; management forecasts adjusted EBITDA of $325–345 million for Q3. Large asset managers such as BlackRock and Vanguard increased their holdings, while the broader US market offered little support. » Mere på de.investing.com

The stock of Century Aluminum lost 7.1% in afternoon trading to $42.41, continuing an industry-wide selloff in the non-ferrous metals sector. Analyst B.Riley slightly cut the price target from $74 to $72 but left the rating at "Buy." Easing geopolitical tensions in the Middle East have reduced the risk premium that had previously been priced in, weighing on aluminum names. The stock fell intraday to as low as $40.56, despite the company showing solid fundamentals after strong Q2 results and resuming production at full capacity. » Mere på de.investing.com

Century Aluminum reported adjusted EPS of $2.46 for Q2 (expectation $2.35), while revenue of $752.1 million missed the consensus estimate of $818.65 million. Adjusted EBITDA rose to $327 million, shipments increased to 131,000 tonnes, and cash amounted to $388 million with net debt of $98 million. Management says Mount Holly and Grundartangi are nearly fully utilized and sees adjusted EBITDA of $325–345 million for Q3; however, higher energy costs, hedge settlements and restart-related instabilities are weighing on results in the near term. » Mere på de.investing.com