CENX - Why Century Aluminum Stock Just Jumped 14%
2024-01-09 11:41:10 ET
Tuesday is turning out to be a great day to own shares of Century Aluminum (NASDAQ: CENX) , the self-described "largest domestic producer of primary aluminum in the U.S." This morning, investment bank B. Riley upgraded Century Aluminum stock to buy and raised its price target on the stock by 40%, to $14 a share.
Century Aluminum stock is up 14% through 10:45 a.m. ET in response.
Why is B. Riley so enthusiastic about Century Aluminum, a $1 billion metals producer that lost $175 million over the last 12 months? Basically, it's because B. Riley thinks better days are ahead for the aluminum manufacturer -- and because the Biden administration is about to shower Century with cash.
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Why Century Aluminum Stock Just Jumped 14%