This $420 Million Bet Concentrates Assets in a Stock Up 134% in One Year

Company Overview - Century Aluminum Company is a leading producer of primary aluminum with significant manufacturing operations in the United States and Iceland, focusing on operational efficiency and product quality to maintain a competitive edge in the global aluminum industry [9][10] - The company generates revenue primarily through the manufacture and sale of aluminum products to industrial and commercial customers, with a total revenue of $2.53 billion over the trailing twelve months (TTM) [5][9] Recent Developments - On January 22, Glencore disclosed a purchase of 13,454,538 shares of Century Aluminum, with an estimated transaction value of $420.38 million based on quarterly average pricing [2][3] - Following this acquisition, Glencore's position in Century Aluminum rose to 53,511,894 shares valued at $2.10 billion, accounting for 48.39% of Glencore's reportable assets under management [4][7] Financial Performance - Century Aluminum reported $632.2 million in revenue for its latest quarter, returning to profitability with a net income of $14.9 million compared to a loss of $4.6 million in the previous quarter [12] - The company's adjusted EBITDA increased to $101.1 million, driven by higher Midwest aluminum premiums and improved power economics, with management guiding for fourth-quarter adjusted EBITDA of $170 million to $180 million [12] Market Position - As of January 21, Century Aluminum shares were priced at $47.75, reflecting a 133.7% increase over the past year, significantly outperforming the S&P 500 by 120 percentage points [4] - The market capitalization of Century Aluminum stands at $4.46 billion, indicating a strong market presence [5]