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Century Aluminum (CENX) Refinery Returns to Full Production
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Century Aluminum Company (CENX - Free Report) recently announced that its Jamalco bauxite mining and alumina production joint venture has resumed full production following the recent hurricane Beryl in Jamaica. There were no casualties to personnel or major damage to Jamalco's production facilities. Century does not expect the event to have a significant impact on its financial performance.
Century Aluminum's employees are safe, and no substantial damage happened at the refinery. However, the hurricane had a considerable impact on the surrounding communities, and the company is collaborating with local leaders in Clarendon and adjacent parishes to aid those in need.
The port facility was affected by the storm, and part of the alumina conveyor was damaged and would require repair, even though Jamalco's production facilities were spared major damage. The repairs are expected to be completed in a few weeks. Jamalco has obtained alternate port arrangements to guarantee that alumina shipments to clients continue while the conveyor is being repaired. The damage to Jamalco's alumina conveyor is not expected to have an impact on the refinery's production levels, raw material receipt capacity, or overall operation.
Shares of Century Aluminum have gained 107% over the past year compared with an 11.8% rise of its industry.
Image Source: Zacks Investment Research
Century, on its first-quarter call, said that it expects its adjusted EBITDA for the second quarter to be in the range of $25-$35 million, factoring in higher LME prices and regional premiums, partly offset by the timing of partial power curtailments imposed on its Grundartangi facility.
Zacks Rank & Other Key Picks
CENX currently carries a Zacks Rank #2 (Buy).
Other top-ranked stocks in the basic materials space include Carpenter Technology Corporation (CRS - Free Report) , Eldorado Gold Corporation (EGO - Free Report) and Kronos Worldwide, Inc. (KRO - Free Report) .
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.1%. The company's shares have soared 92.7% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Eldorado’s current-year earnings is pegged at $1.09 per share, indicating a year-over-year rise of 91.2%. EGO, a Zacks Rank #1 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.7%. The company's shares have rallied roughly 56.2% in the past year.
Kronos Worldwide currently carries a Zacks Rank #1. KRO has a projected earnings growth rate of 297.7% for the current year. The company’s shares have rallied around 37% in the past year.
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Century Aluminum (CENX) Refinery Returns to Full Production
Century Aluminum Company (CENX - Free Report) recently announced that its Jamalco bauxite mining and alumina production joint venture has resumed full production following the recent hurricane Beryl in Jamaica. There were no casualties to personnel or major damage to Jamalco's production facilities. Century does not expect the event to have a significant impact on its financial performance.
Century Aluminum's employees are safe, and no substantial damage happened at the refinery. However, the hurricane had a considerable impact on the surrounding communities, and the company is collaborating with local leaders in Clarendon and adjacent parishes to aid those in need.
The port facility was affected by the storm, and part of the alumina conveyor was damaged and would require repair, even though Jamalco's production facilities were spared major damage. The repairs are expected to be completed in a few weeks. Jamalco has obtained alternate port arrangements to guarantee that alumina shipments to clients continue while the conveyor is being repaired. The damage to Jamalco's alumina conveyor is not expected to have an impact on the refinery's production levels, raw material receipt capacity, or overall operation.
Shares of Century Aluminum have gained 107% over the past year compared with an 11.8% rise of its industry.
Image Source: Zacks Investment Research
Century, on its first-quarter call, said that it expects its adjusted EBITDA for the second quarter to be in the range of $25-$35 million, factoring in higher LME prices and regional premiums, partly offset by the timing of partial power curtailments imposed on its Grundartangi facility.
Zacks Rank & Other Key Picks
CENX currently carries a Zacks Rank #2 (Buy).
Other top-ranked stocks in the basic materials space include Carpenter Technology Corporation (CRS - Free Report) , Eldorado Gold Corporation (EGO - Free Report) and Kronos Worldwide, Inc. (KRO - Free Report) .
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.1%. The company's shares have soared 92.7% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Eldorado’s current-year earnings is pegged at $1.09 per share, indicating a year-over-year rise of 91.2%. EGO, a Zacks Rank #1 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 430.7%. The company's shares have rallied roughly 56.2% in the past year.
Kronos Worldwide currently carries a Zacks Rank #1. KRO has a projected earnings growth rate of 297.7% for the current year. The company’s shares have rallied around 37% in the past year.