Century Aluminum Company's (CENX) stock soared over 5% in pre-market trading on Tuesday, following the release of its impressive fourth quarter 2024 earnings results and positive guidance for the first quarter of 2025.
The aluminum producer reported Q4 earnings of $0.47 per share, surpassing analysts' expectations of $0.30 per share. Revenue for the quarter came in at $631 million, beating the consensus estimate of $560.8 million. Notably, the company also provided an upbeat outlook, forecasting adjusted EBITDA for Q1 2025 to range between $75 million and $85 million, driven by improved metal pricing and regional premiums.
Adding to the positive sentiment around the stock, B. Riley analyst raised their price target on CENX to $26 from $24, while maintaining a Buy rating. The brokerage firm's bullish outlook on Century Aluminum, coupled with the company's strong quarterly performance and guidance, likely fueled the stock's surge in the pre-market session.
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