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Why Century Aluminum (CENX) is a Top Momentum Stock for the Long-Term

Zacks Equity Research
·2-min read

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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Century Aluminum (CENX)

Chicago-based Century Aluminum Company is engaged in the production of primary aluminum in the United Sates and Iceland. The company produces standard grade and value-added primary aluminum products as well as carbon products such as anodes and cathodes. Century Aluminum recorded revenues of around $2,185.4 million in 2023. Total shipments in 2023 were 700,680 tons. It operates through one reportable segment – Primary Aluminum.

CENX is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of A and VGM Score of B. Shares are down 3.2% over the past one week and up 1.8% over the past four weeks. CENX has gained 105.7% in the last one-year period as well. Looking at trading volume, an average of 1,497,966.13 shares exchanged hands over the last 20 trading days.

Momentum investors also pay close attention to a company's earnings. For CENX, one analyst revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $3.26 to $3.10 per share for 2024. CENX boasts an average earnings surprise of 97.5%.

Investors should take the time to consider CENX for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Century Aluminum Company (CENX) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research