世纪铝业股价大跌5.74%，合作项目引发市场担忧

Company Situation - Century Aluminum's stock price dropped significantly on February 12, 2026, closing at $50.37, a decline of 5.74% for the day, with a trading volume of approximately $29.12 million [1] - The company announced a partnership with Emirates Global Aluminium (EGA) to invest over $5 billion in a new aluminum plant in Oklahoma, which raised short-term concerns about increased financial pressure due to the substantial capital expenditure [2] - Following the announcement, the stock price experienced a decline of up to 8.4%, as some investors opted to take profits after a 12.52% increase over the previous five trading days [2] Industry Situation - The aluminum price is experiencing volatility, with the London Metal Exchange (LME) aluminum price reported at $3,117 per ton on February 12, 2026, indicating potential short-term profit impacts for companies due to cyclical price corrections [3] - The overall aluminum sector saw a decline of 2.07% on the same day, influenced by a broader market downturn where major U.S. stock indices fell, leading to increased risk aversion and a shift of funds towards defensive assets [3] Recent Company Developments - The largest shareholder, Glencore, reduced its stake by selling 9 million shares at $30.65 each, raising approximately $276 million, which led to a nearly 14% drop in stock price on the day of the sale, creating lingering doubts about shareholder confidence [4] - The company's current price-to-earnings ratio (TTM) stands at 59.96, significantly higher than the industry average, raising concerns about overvaluation in a weak market environment [4] - Despite five institutions giving a buy or hold rating with a target average price of $59.75, the high valuation could trigger a market correction [4]