Century Aluminum (CENX) saw its stock price plummet 5.12% in pre-market trading on Thursday following the release of its first-quarter earnings report that fell short of analysts' expectations. The disappointing results have led to a sharp sell-off in the company's shares, despite showing year-over-year improvement.

The aluminum producer reported adjusted earnings of 36 cents per share for the quarter ended March 31, significantly below the mean expectation of 56 cents per share from three analysts. While this represents an improvement from the loss of 3 cents per share in the same quarter last year, it missed Wall Street's forecast range of 39 to 72 cents per share. Revenue for the quarter rose 29.5% to $633.90 million, surpassing analysts' expectations of $577.60 million.

Despite the revenue beat, investors seem focused on the earnings miss and its potential implications for future performance. Century Aluminum's shares have already fallen by 14.8% this quarter and lost 13.2% year-to-date, indicating ongoing challenges for the company. However, the current average analyst rating on the shares remains "buy," with a median 12-month price target of $23.00, suggesting potential upside despite the recent setback.