B. Riley raised the firm’s price target on Century Aluminum (CENX) to $64 from $37 and keeps a Buy rating on the shares following the sale of the company’s Hawesville site to TeraWulf (WULF). The firm estimates Century’s minority interest could be worth over $300M. The deal creates a win-win outcome for both parties, says Riley, who would buy both stocks following the news.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CENX:
- Century Aluminum Completes Hawesville Site Sale and Partnership
- Century Aluminum sells Kentucky site to TeraWulf for $200M, minority stake
- EGA, Century Aluminum enters joint development agreement
- Century Aluminum price target raised to $61 from $46 at Wells Fargo
- Century Aluminum price target raised to $46 from $37 at Wells Fargo