Century Aluminum's stock soared 5.01% intraday on Friday, driven by positive analyst action and a solid quarterly earnings report.
The surge followed BMO Capital Markets raising its price target on the stock to $61 from $52, signaling increased confidence in the company's prospects. This positive sentiment is reinforced by the broader analyst community, which maintains a consensus "buy" rating with a median 12-month price target of $61.00.
Investors also reacted to the company's latest earnings, which showed adjusted earnings per share of $1.25 for the quarter ended December 31, a significant increase from the 49 cents reported in the same period last year. Although revenue of $633.70 million slightly missed analyst expectations, the strong year-over-year profit growth appears to have bolstered investor confidence.