Key Takeaways Century Aluminum saw costs surge in 2025, with the cost of sales up 10.9% and SG&A jumping about 41%.Input costs like alumina, power and carbon made up over 84% of CENX's total cost of goods sold.CENX lifted gross margin to 10.1%, aided by premium product sales and ongoing efficiency initiatives.Century Aluminum Company (CENX) has been grappling with rising costs and expenses over time. CENX reported an uptick in operating expenses during 2025. The company’s cost of sales rose 10.9% year over ...

CHICAGO, March 23, 2026 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) today announced that Levi Chaffin has been promoted to Senior Vice President of Operations, Americas. He will continue to lead Century’s operations in the United States and Jamaica. “Levi has been an instrumental part of Century’s success, setting the bar for operational excellence across our locations in the US and Jamaica,” said Jesse Gary, President and Chief Executive Officer of Century Aluminum. “Over the past several y ...

Company Overview - Century Aluminum Company is a leading producer of various metals, including standard-grade and value-added primary aluminum products, operating in the United States and Iceland, with additional facilities in the Netherlands and Jamaica [6] Transaction Summary - Jesse Gary, President and CEO, sold 150,000 shares for approximately $8.32 million on March 16, 2026, with a post-transaction direct ownership of 277,227 shares valued at $15.4 million [1][2] - This sale matches the largest recorded individual sale by share count over the past three years and exceeds the historical median sell transaction of 79,243 shares [4] Market Context - As of March 16, 2026, aluminum futures rose to $3,440 per metric ton, nearing their highest level in almost four years, driven by ongoing geopolitical tensions [7] - The U.S. administration has been pushing to increase domestic aluminum production, with tariffs making aluminum more costly, which benefits Century Aluminum's operations [9] Strategic Developments - Century Aluminum announced a partnership with Emirates Global Aluminum to build the first aluminum smelting plant in the U.S. in 47 years, which is expected to create 1,000 jobs [8][9] - The company holds a 40% stake in the smelting plant construction, positioning it for significant benefits from the project [9] Financial Performance - The company's stock surged approximately 150% in 2025 and is up about 22% in 2026 as of March 21, indicating strong demand for aluminum in consumer goods and industrial products [10]

Market Overview - U.S. stock markets have experienced a downturn over the past three weeks due to geopolitical conflicts in the Middle East, particularly between the U.S.-Israel joint force and Iran, leading to increased crude oil and natural gas prices [1] - The Strait of Hormuz, a major oil supply line controlled by Iran, remains severely disturbed, raising concerns about global inflation [1] Stock Performance - A limited number of stocks have shown price strength during this downturn, with a focus on those that have recently been on a bull run [2] - Five stocks identified with strong price gains are Cardinal Infrastructure Group Inc. (CDNL), Escalade Inc. (ESCA), Century Aluminum Co. (CENX), BrightSpring Health Services Inc. (BTSG), and Constellium SE (CSTM) [2][7] Stock Analysis - Cardinal Infrastructure Group (CDNL) has seen a stock price increase of 34% in four weeks, with earnings estimates rising by 29.9% [7][8] - Escalade Inc. (ESCA) has experienced a price increase of 28.9% over the same period, with an expected earnings growth of 6.1% [10] - Century Aluminum Co. (CENX) has surged 15.6% in stock price, with an expected earnings growth rate exceeding 100% [13] - BrightSpring Health Services Inc. (BTSG) has advanced 9.5% in stock price, with an expected earnings growth rate of 61% [14] - Constellium SE (CSTM) has gained 7.5% in stock price, with an expected earnings growth rate of 6.8% [16] Investment Screening Criteria - Stocks were screened based on several parameters, including a percentage change in price over the last four weeks greater than zero and a percentage change over 12 weeks greater than 10% [4] - Additional criteria included a Zacks Rank of 1 (Strong Buy), an average broker rating of 1, a current price greater than $5, and a current price/52-week high-low range greater than 85% [5][6]

Core Insights - Century Aluminum Company (CENX) is experiencing strong global demand for aluminum, driven by improving industrial activity and steady consumption across key end markets [1] - The company benefits from higher regional premiums and favorable market dynamics, which are expected to enhance pricing and profitability [1] Company Overview - CENX operates primary aluminum smelters in the United States and Iceland, with a combined annual production capacity of approximately 770,000 tons [2] - In 2025, the company produced approximately 638,000 tons of primary aluminum and its shipments totaled 647,112 tons [2] Production Capacity and Agreements - The company is working to restore curtailed capacity at the Mt. Holly smelter, expected to reach full production by Q2 2026 [3] - In October 2025, CENX secured an extended power service agreement for the Mt. Holly smelter, ensuring electricity supply through 2031 [3] Strategic Developments - CENX holds a 55% stake in the Jamalco bauxite mining and alumina refining joint venture in Jamaica, ensuring a steady supply of alumina [4] - In January 2026, the company signed a joint development deal with Emirates Global Aluminium to build a new aluminum smelter in Oklahoma, expected to produce 750,000 tons of aluminum annually [4] Peer Comparison - Ryerson Holding Corporation (RYZ) reported flat shipments of 185,000 tons in 2025, with revenues of $1.15 billion, reflecting a 10.4% increase [5] - Constellium SE (CSTM) saw a 6% increase in shipments to 1,086,000 metric tons in 2025, with revenues rising 21% to $5.1 billion [6] Financial Performance - CENX shares have gained 64.6% in the past three months, outperforming the industry's growth of 2.1% [7] - The company is trading at a forward price-to-earnings ratio of 1.63X, below the industry average of 2.07X [10] - The Zacks Consensus Estimate for CENX's 2026 earnings has increased by 42.1% over the past 60 days [12]

What does a mid-cap aluminum smelting company have to do with Iran closing the Strait of Hormuz? Everything, it turns out. You probably know that a massive amount of global oil trade passes throughMy name is David B McMillan and I am an investor interested in fundamental valuation. My philosophy is fundamental investing - I seek to identify underpriced securities relative to their potential future cash flows. I also use tactical allocation, investing more aggressively when equity prices are lower, and more ...

1. Report's Industry Investment Rating - Not provided in the content 2. Core Views of the Report Aluminum - The geopolitical conflict between the US - Israel and Iran continues, affecting the aluminum market through high oil prices and supply - chain disruptions [4]. - The Qatalum aluminum smelter in Qatar has stopped further production cuts and maintained its capacity at about 60%. However, there is uncertainty about future production resumption [4]. - Aluminum inventories decreased in mid - March, and the internal - external price difference widened, increasing the profit of aluminum product exports [4]. - The aluminum market is expected to run in a strong and volatile manner, with a trading strategy of being bullish on dips [4]. Alumina - Geopolitical conflicts have led to rising shipping and domestic freight costs, affecting the alumina market [84]. - The price of bauxite has increased, and there are concerns about export quotas in Guinea [84]. - Alumina production capacity is in a state of slight over - supply in the short term, with prices expected to rise in a narrow range [84]. - The trading strategy is to be bullish on the single - side, and wait and see for arbitrage and options [84]. 3. Summary by Relevant Catalogs Aluminum Macro - The geopolitical conflict between the US - Israel and Iran since February 28, 2026, continues. Iran may take strategic measures such as blocking the Strait of Hormuz, and oil prices remain high. The Fed's interest - rate meeting next week is worth attention [4]. Industrial Supply - The Qatalum aluminum smelter in Qatar has stopped further production cuts due to low natural gas supply and will maintain its capacity at about 60% (648,000 tons/year). The timing of production resumption is uncertain [4]. - An Indonesian Chinese - funded aluminum smelter's project may be delayed by 1 - 2 months due to slow environmental assessment [4]. - Mozal in Mozambique is expected to cut production in mid - March, and a domestic electrolytic aluminum plant in Northeast China is expected to resume production as scheduled this month [4]. Industrial Demand and Inventory - In mid - March, the total social inventory of aluminum ingots and bars decreased by 49,900 tons week - on - week, and apparent demand increased. The internal - external price difference widened, increasing the profit of aluminum product exports [4]. - Overseas traders cancelled or designated the delivery of nearly 100,000 tons of aluminum in the Port of Klang, and Rio Tinto raised the aluminum premium for Japanese customers by 79% [4]. Trading Logic and Strategy - Uncertainty in the Middle East geopolitical situation, suspension of production cuts in Qatari aluminum plants, and high overseas spot premiums. Pay attention to whether the concern of LME aluminum warrant cancellations will widen the monthly spread [4]. - The trading strategy is to be bullish on dips, and wait and see for derivatives and arbitrage [3][4]. Downstream Demand - **Photovoltaic**: In January 2026, photovoltaic module production decreased by 3.5GW month - on - month. The overall production in 2025 decreased slightly year - on - year. The demand in the first quarter of 2026 may be weak, and the second - quarter demand is uncertain [61]. - **Automobile**: In February 2026, automobile production and sales declined year - on - year and month - on - month. However, exports maintained high growth, especially for new - energy vehicles [65]. - **Real Estate**: The real estate market is still in the de - stocking process, with weak completion data, but the decline is expected to be relatively moderate [68]. - **Power Investment and Cables**: The investment in the power grid during the 15th Five - Year Plan is expected to exceed 5 trillion yuan. In February, the aluminum rod production decreased year - on - year [72]. - **Home Appliances**: In March 2026, the total production plan of air conditioners, refrigerators, and washing machines decreased by 4.0% year - on - year [75]. - **Exports**: In February 2026, China exported 430,000 tons of unwrought aluminum and aluminum products. The export profit increased, and the subsequent export volume is expected to rise [78]. Supply - Demand Balance - The global electrolytic aluminum supply - demand balance shows a deficit in some years. China's production and demand are also in a complex balance, with net imports and strategic reserves affecting the market [80]. Alumina Macro - The Middle East geopolitical conflict has led to the closure of the Strait of Hormuz, increasing shipping and domestic freight costs [84]. Raw Material - The price of Guinea bauxite has risen, with the spot price of 45/3 bauxite at $62 - 64 per dry ton. There are concerns about export quotas in Guinea [84]. Supply - The alumina industry's production enthusiasm has increased due to high prices and expected cost reduction. However, the operating capacity is between 9.35 - 9.4 million tons due to maintenance and production cuts, in a state of slight over - supply [84]. - On March 14, South32 reported a fatal accident at the Worsley alumina plant in Australia, and non - critical operations have been suspended [84]. Trading Logic and Strategy - Geopolitical conflicts and rising shipping costs have increased market sentiment, but the actual impact on supply and demand is limited. The price is expected to rise in a narrow range [84]. - The trading strategy is to be bullish on the single - side, and wait and see for arbitrage and options [84]. Cost and Profit - In February 2026, the national weighted average full cost of alumina was 2,604 yuan/ton, with an average profit of 22 yuan/ton. Shandong and Guangxi regions had better profitability [102]. Inventory - As of March 12, the national alumina inventory was 5.345 million tons, an increase of 36,000 tons from the previous week. Electrolytic aluminum plants' inventory decreased slightly, while alumina enterprises' inventory increased [105]. New Investment - There are many new alumina investment projects overseas and in China, mainly in India, Indonesia, and some domestic regions such as Shandong, Guangxi, etc. [116][118] Bauxite Cost - The FOB cash cost of Guinea bauxite is affected by multiple factors, and different CIF prices have different impacts on mine production. The cost structure is becoming more complex [122]. Supply - Demand Balance - The global metallurgical - grade alumina supply - demand balance shows different situations in different years. China's production and demand are also in a dynamic balance, with net imports affecting the market [134]

Core Insights - The administration's tariffs on aluminum have led to the creation of 150 new jobs at a smelting plant in South Carolina, with an average salary of $125,000 per year [1][2] - The plant is returning to 100% manufacturing capacity after previously idling production lines due to low prices and fierce foreign competition [2] - The CEO of Century Aluminum emphasizes the importance of domestic production, as most aluminum currently comes from foreign sources, particularly China [5] Industry Impact - The tariffs are viewed as effective by industry leaders, with a focus on reshoring supply chains and hiring more American workers [3] - The construction of pot lines at the smelting plant is crucial for increasing production capacity, which will operate continuously once completed [4] - The reliance on foreign aluminum sources, especially from China and the Middle East, is driving prices higher, highlighting the need for increased domestic production [5]

Core Insights - Century Aluminum Company's (CENX) shares have surged 121.7% over the past six months, significantly outperforming the Zacks sub-industry's growth of 22.1% and the S&P 500's growth of 3.3% [1][7] - The stock is currently trading near its 52-week high of $59.12, closing at $57.71, which is 2.4% below this peak [1][7] - The company is benefiting from strong aluminum demand and favorable pricing conditions, with plans to restore capacity at its Mt. Holly smelter and develop a new aluminum smelter in Oklahoma [7][10][18] Company Performance - CENX operates primary aluminum smelters in the U.S. and Iceland, with a combined annual production capacity of approximately 770,000 tons [9] - The company produced approximately 638,000 tons of primary aluminum in 2025 and is working to restore curtailed capacity at the Mt. Holly smelter by mid-2026 [9] - Century Aluminum has secured a power service agreement for the Mt. Holly smelter, ensuring electricity supply through 2031, which will enhance production capacity [9] Market Position - The company holds a 55% stake in the Jamalco bauxite mining and alumina refining joint venture in Jamaica, ensuring a steady supply of alumina [10] - CENX is actively implementing cost-reduction strategies and had cash and cash equivalents of $134.2 million at the end of Q4 2025, with cash provided by operating activities amounting to $185 million [11] Valuation Metrics - Century Aluminum is trading at a trailing price-to-earnings ratio of 8.52X, significantly lower than the industry average of 16.06X, and compared to Kaiser Aluminum and ESAB Corp. at 15.84X and 17.22X, respectively [17] Future Outlook - The Zacks Consensus Estimate for CENX's bottom line for 2026 has increased by 42.1% in the past 60 days, indicating positive market sentiment [15] - The company's strong liquidity and cost-control measures position it for sustained growth, making it an attractive opportunity for potential investors [18]

Core Insights - Generative AI is viewed as a transformative technology by Amazon's CEO Andy Jassy, indicating its potential to significantly enhance customer experiences [1] - Elon Musk predicts that humanoid robots could create a market worth $250 trillion by 2040, representing a major shift in the global economy driven by AI innovation [2] - Major firms like PwC and McKinsey acknowledge the multi-trillion-dollar potential of AI, suggesting a broad consensus on its economic impact [3] Company and Industry Analysis - A breakthrough in AI technology is redefining work, learning, and creativity, leading to increased interest from hedge funds and top investors [4] - There is speculation about an under-owned company that may play a crucial role in the AI revolution, with its technology posing a threat to competitors [4] - Prominent investors, including Bill Gates and Warren Buffett, recognize AI as a significant technological advancement with the potential for substantial social benefits [8]