Intrinsic value of Century Aluminum - CENX

Previous Close

$9.32

  Intrinsic Value

$2.37

stock screener

  Rating & Target

str. sell

-75%

Previous close

$9.32

 
Intrinsic value

$2.37

 
Up/down potential

-75%

 
Rating

str. sell

We calculate the intrinsic value of CENX stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  20.90
  19.31
  17.88
  16.59
  15.43
  14.39
  13.45
  12.60
  11.84
  11.16
  10.54
  9.99
  9.49
  9.04
  8.64
  8.27
  7.95
  7.65
  7.39
  7.15
  6.93
  6.74
  6.57
  6.41
  6.27
  6.14
  6.03
  5.92
  5.83
  5.75
Revenue, $m
  1,921
  2,292
  2,702
  3,150
  3,636
  4,160
  4,719
  5,314
  5,943
  6,607
  7,303
  8,033
  8,795
  9,590
  10,419
  11,281
  12,177
  13,109
  14,077
  15,084
  16,129
  17,216
  18,347
  19,523
  20,746
  22,021
  23,348
  24,731
  26,173
  27,678
Variable operating expenses, $m
  2,261
  2,698
  3,180
  3,708
  4,280
  4,896
  5,554
  6,255
  6,995
  7,776
  8,596
  9,455
  10,352
  11,288
  12,263
  13,278
  14,333
  15,429
  16,569
  17,753
  18,984
  20,264
  21,594
  22,978
  24,419
  25,918
  27,480
  29,108
  30,806
  32,577
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,261
  2,698
  3,180
  3,708
  4,280
  4,896
  5,554
  6,255
  6,995
  7,776
  8,596
  9,455
  10,352
  11,288
  12,263
  13,278
  14,333
  15,429
  16,569
  17,753
  18,984
  20,264
  21,594
  22,978
  24,419
  25,918
  27,480
  29,108
  30,806
  32,577
Operating income, $m
  -340
  -406
  -478
  -558
  -644
  -736
  -835
  -941
  -1,052
  -1,169
  -1,293
  -1,422
  -1,557
  -1,698
  -1,844
  -1,997
  -2,155
  -2,320
  -2,492
  -2,670
  -2,855
  -3,047
  -3,247
  -3,456
  -3,672
  -3,898
  -4,133
  -4,377
  -4,633
  -4,899
EBITDA, $m
  -239
  -285
  -335
  -391
  -451
  -516
  -586
  -660
  -738
  -820
  -907
  -997
  -1,092
  -1,191
  -1,293
  -1,400
  -1,512
  -1,627
  -1,748
  -1,873
  -2,002
  -2,137
  -2,278
  -2,424
  -2,576
  -2,734
  -2,898
  -3,070
  -3,249
  -3,436
Interest expense (income), $m
  20
  22
  36
  51
  68
  86
  106
  128
  151
  175
  201
  229
  257
  287
  319
  351
  385
  421
  458
  496
  536
  577
  620
  665
  711
  760
  810
  862
  917
  974
  1,033
Earnings before tax, $m
  -362
  -442
  -529
  -626
  -730
  -843
  -963
  -1,091
  -1,227
  -1,371
  -1,521
  -1,679
  -1,844
  -2,016
  -2,195
  -2,382
  -2,576
  -2,778
  -2,988
  -3,205
  -3,432
  -3,667
  -3,912
  -4,167
  -4,432
  -4,708
  -4,995
  -5,294
  -5,606
  -5,932
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -362
  -442
  -529
  -626
  -730
  -843
  -963
  -1,091
  -1,227
  -1,371
  -1,521
  -1,679
  -1,844
  -2,016
  -2,195
  -2,382
  -2,576
  -2,778
  -2,988
  -3,205
  -3,432
  -3,667
  -3,912
  -4,167
  -4,432
  -4,708
  -4,995
  -5,294
  -5,606
  -5,932

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,912
  2,281
  2,689
  3,135
  3,618
  4,139
  4,696
  5,288
  5,914
  6,574
  7,267
  7,993
  8,751
  9,543
  10,367
  11,225
  12,117
  13,044
  14,007
  15,009
  16,049
  17,131
  18,256
  19,426
  20,643
  21,911
  23,232
  24,608
  26,043
  27,540
Adjusted assets (=assets-cash), $m
  1,912
  2,281
  2,689
  3,135
  3,618
  4,139
  4,696
  5,288
  5,914
  6,574
  7,267
  7,993
  8,751
  9,543
  10,367
  11,225
  12,117
  13,044
  14,007
  15,009
  16,049
  17,131
  18,256
  19,426
  20,643
  21,911
  23,232
  24,608
  26,043
  27,540
Revenue / Adjusted assets
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
  1.005
Average production assets, $m
  1,208
  1,442
  1,700
  1,982
  2,287
  2,616
  2,968
  3,343
  3,738
  4,156
  4,594
  5,053
  5,532
  6,032
  6,553
  7,096
  7,660
  8,246
  8,855
  9,488
  10,145
  10,829
  11,540
  12,280
  13,050
  13,851
  14,686
  15,556
  16,463
  17,410
Working capital, $m
  246
  293
  346
  403
  465
  532
  604
  680
  761
  846
  935
  1,028
  1,126
  1,228
  1,334
  1,444
  1,559
  1,678
  1,802
  1,931
  2,065
  2,204
  2,348
  2,499
  2,656
  2,819
  2,989
  3,166
  3,350
  3,543
Total debt, $m
  412
  587
  781
  993
  1,223
  1,470
  1,734
  2,016
  2,313
  2,627
  2,956
  3,301
  3,661
  4,037
  4,428
  4,836
  5,259
  5,700
  6,157
  6,633
  7,127
  7,641
  8,175
  8,731
  9,310
  9,912
  10,539
  11,193
  11,875
  12,586
Total liabilities, $m
  908
  1,083
  1,277
  1,489
  1,719
  1,966
  2,230
  2,512
  2,809
  3,123
  3,452
  3,797
  4,157
  4,533
  4,924
  5,332
  5,755
  6,196
  6,653
  7,129
  7,623
  8,137
  8,671
  9,227
  9,806
  10,408
  11,035
  11,689
  12,371
  13,082
Total equity, $m
  1,004
  1,197
  1,411
  1,646
  1,900
  2,173
  2,465
  2,776
  3,105
  3,451
  3,815
  4,196
  4,595
  5,010
  5,443
  5,893
  6,361
  6,848
  7,354
  7,879
  8,426
  8,994
  9,584
  10,198
  10,838
  11,503
  12,197
  12,919
  13,673
  14,459
Total liabilities and equity, $m
  1,912
  2,280
  2,688
  3,135
  3,619
  4,139
  4,695
  5,288
  5,914
  6,574
  7,267
  7,993
  8,752
  9,543
  10,367
  11,225
  12,116
  13,044
  14,007
  15,008
  16,049
  17,131
  18,255
  19,425
  20,644
  21,911
  23,232
  24,608
  26,044
  27,541
Debt-to-equity ratio
  0.410
  0.490
  0.550
  0.600
  0.640
  0.680
  0.700
  0.730
  0.750
  0.760
  0.770
  0.790
  0.800
  0.810
  0.810
  0.820
  0.830
  0.830
  0.840
  0.840
  0.850
  0.850
  0.850
  0.860
  0.860
  0.860
  0.860
  0.870
  0.870
  0.870
Adjusted equity ratio
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525
  0.525

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -362
  -442
  -529
  -626
  -730
  -843
  -963
  -1,091
  -1,227
  -1,371
  -1,521
  -1,679
  -1,844
  -2,016
  -2,195
  -2,382
  -2,576
  -2,778
  -2,988
  -3,205
  -3,432
  -3,667
  -3,912
  -4,167
  -4,432
  -4,708
  -4,995
  -5,294
  -5,606
  -5,932
Depreciation, amort., depletion, $m
  102
  121
  143
  167
  192
  220
  249
  281
  314
  349
  386
  425
  465
  507
  551
  596
  644
  693
  744
  797
  853
  910
  970
  1,032
  1,097
  1,164
  1,234
  1,307
  1,383
  1,463
Funds from operations, $m
  -261
  -320
  -387
  -459
  -538
  -623
  -714
  -811
  -913
  -1,021
  -1,135
  -1,254
  -1,379
  -1,509
  -1,645
  -1,786
  -1,932
  -2,085
  -2,243
  -2,408
  -2,579
  -2,757
  -2,942
  -3,135
  -3,335
  -3,544
  -3,761
  -3,987
  -4,223
  -4,469
Change in working capital, $m
  43
  47
  52
  57
  62
  67
  72
  76
  81
  85
  89
  93
  98
  102
  106
  110
  115
  119
  124
  129
  134
  139
  145
  151
  157
  163
  170
  177
  185
  193
Cash from operations, $m
  -303
  -368
  -439
  -516
  -600
  -690
  -785
  -887
  -994
  -1,106
  -1,224
  -1,348
  -1,477
  -1,611
  -1,751
  -1,896
  -2,047
  -2,204
  -2,367
  -2,537
  -2,713
  -2,897
  -3,087
  -3,285
  -3,492
  -3,707
  -3,931
  -4,164
  -4,408
  -4,662
Maintenance CAPEX, $m
  -84
  -102
  -121
  -143
  -167
  -192
  -220
  -249
  -281
  -314
  -349
  -386
  -425
  -465
  -507
  -551
  -596
  -644
  -693
  -744
  -797
  -853
  -910
  -970
  -1,032
  -1,097
  -1,164
  -1,234
  -1,307
  -1,383
New CAPEX, $m
  -209
  -233
  -258
  -282
  -306
  -329
  -352
  -374
  -396
  -417
  -438
  -459
  -480
  -500
  -521
  -542
  -564
  -586
  -609
  -633
  -658
  -684
  -711
  -740
  -770
  -801
  -835
  -870
  -907
  -946
Cash from investing activities, $m
  -293
  -335
  -379
  -425
  -473
  -521
  -572
  -623
  -677
  -731
  -787
  -845
  -905
  -965
  -1,028
  -1,093
  -1,160
  -1,230
  -1,302
  -1,377
  -1,455
  -1,537
  -1,621
  -1,710
  -1,802
  -1,898
  -1,999
  -2,104
  -2,214
  -2,329
Free cash flow, $m
  -597
  -703
  -818
  -941
  -1,072
  -1,211
  -1,357
  -1,510
  -1,671
  -1,838
  -2,012
  -2,193
  -2,381
  -2,576
  -2,779
  -2,989
  -3,207
  -3,434
  -3,669
  -3,914
  -4,168
  -4,433
  -4,708
  -4,995
  -5,293
  -5,605
  -5,929
  -6,268
  -6,622
  -6,992
Issuance/(repayment) of debt, $m
  156
  175
  194
  212
  230
  247
  264
  281
  297
  313
  329
  345
  360
  376
  392
  407
  424
  440
  458
  476
  494
  514
  534
  556
  578
  602
  627
  654
  682
  711
Issuance/(repurchase) of shares, $m
  536
  635
  743
  860
  984
  1,116
  1,255
  1,402
  1,556
  1,717
  1,885
  2,060
  2,242
  2,431
  2,628
  2,832
  3,044
  3,265
  3,493
  3,731
  3,978
  4,235
  4,503
  4,781
  5,071
  5,373
  5,688
  6,017
  6,360
  6,718
Cash from financing (excl. dividends), $m  
  692
  810
  937
  1,072
  1,214
  1,363
  1,519
  1,683
  1,853
  2,030
  2,214
  2,405
  2,602
  2,807
  3,020
  3,239
  3,468
  3,705
  3,951
  4,207
  4,472
  4,749
  5,037
  5,337
  5,649
  5,975
  6,315
  6,671
  7,042
  7,429
Total cash flow (excl. dividends), $m
  96
  108
  119
  130
  141
  152
  163
  173
  183
  193
  203
  212
  222
  231
  241
  251
  261
  271
  282
  293
  304
  316
  329
  342
  356
  371
  386
  402
  420
  438
Retained Cash Flow (-), $m
  -536
  -635
  -743
  -860
  -984
  -1,116
  -1,255
  -1,402
  -1,556
  -1,717
  -1,885
  -2,060
  -2,242
  -2,431
  -2,628
  -2,832
  -3,044
  -3,265
  -3,493
  -3,731
  -3,978
  -4,235
  -4,503
  -4,781
  -5,071
  -5,373
  -5,688
  -6,017
  -6,360
  -6,718
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -441
  -527
  -624
  -729
  -843
  -964
  -1,093
  -1,229
  -1,373
  -1,524
  -1,682
  -1,848
  -2,020
  -2,200
  -2,387
  -2,582
  -2,784
  -2,994
  -3,212
  -3,438
  -3,674
  -3,919
  -4,174
  -4,439
  -4,715
  -5,003
  -5,302
  -5,615
  -5,940
  -6,280
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -422
  -483
  -543
  -601
  -653
  -699
  -738
  -768
  -789
  -799
  -799
  -789
  -768
  -739
  -701
  -656
  -606
  -551
  -495
  -437
  -380
  -325
  -274
  -226
  -183
  -146
  -114
  -87
  -65
  -47
Current shareholders' claim on cash, %
  60.4
  36.7
  22.5
  13.9
  8.7
  5.4
  3.4
  2.2
  1.4
  0.9
  0.6
  0.4
  0.2
  0.2
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Century Aluminum Company (Century) is a holding company, which is a producer of primary aluminum and operates aluminum reduction facilities, or smelters, in the United States and Iceland. The Company operates through primary aluminum segment. The Company's primary aluminum facilities produce standard grade primary aluminum products. As of December 31, 2016, its annual primary aluminum production capacity was approximately 1,012,000 tons per year (tpy). The Company's principal subsidiaries are Century Kentucky, Inc. (CAKY), Nordural ehf (Nordural), Century Aluminum Sebree LLC (Century Sebree), Century Aluminum of South Carolina (CASC) and Century Aluminum of West Virginia, Inc. (Century of West Virginia). Its CAKY operates a primary aluminum reduction facility in Hawesville, Kentucky (Hawesville). Nordural Grundartangi ehf, a subsidiary of Nordural, operates a primary aluminum reduction facility in Grundartangi, Iceland (Grundartangi).

FINANCIAL RATIOS  of  Century Aluminum (CENX)

Valuation Ratios
P/E Ratio -3.2
Price to Sales 0.6
Price to Book 1.1
Price to Tangible Book
Price to Cash Flow 21.4
Price to Free Cash Flow 50.8
Growth Rates
Sales Growth Rate -32.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -60%
Cap. Spend. - 3 Yr. Gr. Rate -14.1%
Financial Strength
Quick Ratio 17
Current Ratio 0.1
LT Debt to Equity 32.8%
Total Debt to Equity 33.8%
Interest Coverage -12
Management Effectiveness
Return On Assets -14.1%
Ret/ On Assets - 3 Yr. Avg. -2.8%
Return On Total Capital -22.1%
Ret/ On T. Cap. - 3 Yr. Avg. -5.7%
Return On Equity -28.5%
Return On Equity - 3 Yr. Avg. -7.4%
Asset Turnover 0.8
Profitability Ratios
Gross Margin -0.8%
Gross Margin - 3 Yr. Avg. 3.9%
EBITDA Margin -11.1%
EBITDA Margin - 3 Yr. Avg. 1.3%
Operating Margin -17.7%
Oper. Margin - 3 Yr. Avg. -4.2%
Pre-Tax Margin -19%
Pre-Tax Margin - 3 Yr. Avg. -4.6%
Net Profit Margin -19.1%
Net Profit Margin - 3 Yr. Avg. -5.2%
Effective Tax Rate -1.2%
Eff/ Tax Rate - 3 Yr. Avg. -3.5%
Payout Ratio 0%

CENX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CENX stock intrinsic value calculation we used $1589.08 million for the last fiscal year's total revenue generated by Century Aluminum. The default revenue input number comes from 0001 income statement of Century Aluminum. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CENX stock valuation model: a) initial revenue growth rate of 20.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for CENX is calculated based on our internal credit rating of Century Aluminum, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Century Aluminum.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CENX stock the variable cost ratio is equal to 117.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for CENX stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 8.7% for Century Aluminum.

Corporate tax rate of 27% is the nominal tax rate for Century Aluminum. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CENX stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CENX are equal to 62.9%.

Life of production assets of 11.9 years is the average useful life of capital assets used in Century Aluminum operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CENX is equal to 12.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $829.6 million for Century Aluminum - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 87.601 million for Century Aluminum is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Century Aluminum at the current share price and the inputted number of shares is $0.8 billion.

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COMPANY NEWS

▶ Why Century Aluminum Co's Shares Plunged 18% Today   [Oct-26-18 12:51PM  Motley Fool]
▶ Century: 3Q Earnings Snapshot   [07:14PM  Associated Press]
▶ General Motors and Comerica climb; Century Aluminum drops   [Oct-03-18 05:00PM  Associated Press]
▶ Century Aluminum (CENX) Jumps: Stock Rises 5.2%   [Oct-01-18 10:03AM  Zacks]
▶ [$$] Aluminum Makers Profits Suffer as Prices Rise for Key Ingredient   [Sep-27-18 07:43PM  The Wall Street Journal]
▶ [$$] Aluminum Makers' Profits Suffer as Alumina Prices Soar   [06:04AM  The Wall Street Journal]
▶ Why Century Aluminum Stock Dropped 10% Today   [Sep-24-18 04:49PM  Motley Fool]
▶ Century: 2Q Earnings Snapshot   [05:12AM  Associated Press]
▶ [$$] In Defense of President Trumps Trade Policy   [Jul-26-18 07:50PM  The Wall Street Journal]
▶ [$$] In Defense of President Trump's Trade Policy   [01:18PM  The Wall Street Journal]
▶ How Much Is Alcoa Hurt By Trump Tariffs?   [Jul-20-18 10:27PM  InvestorPlace]
▶ Why Aluminum Stocks are Sinking Today   [Jul-19-18 04:02PM  Motley Fool]
▶ Alcoa & Century Aluminum: Buy One, Skip the Other   [Jun-21-18 10:41AM  Barrons.com]
▶ Steel and Aluminum Stocks Suffer Amidst Trade War Woes   [Jun-19-18 12:59PM  TheStreet.com]
▶ Why Century Aluminum Stock Just Dropped 10%   [May-04-18 11:38AM  Motley Fool]
▶ Century: 1Q Earnings Snapshot   [May-03-18 07:33PM  Associated Press]
▶ Why Alcoa Corp.'s Stock Is Slumping Today   [Apr-23-18 11:31AM  Motley Fool]
▶ Earnings Confirm Alcoa Corp Is in a Sweet Spot   [Apr-19-18 01:17PM  InvestorPlace]
▶ Russian sanctions could fuel another aluminum rally   [Apr-14-18 04:11PM  MarketWatch]
▶ Russia's Pain is Century Aluminum's Gain   [Apr-09-18 06:00PM  Barrons.com]
▶ Aluminum Stocks Jump As Trump Sanctions Target Putin Pal   [04:12PM  Investor's Business Daily]
▶ Century Aluminum CEO on the tariff impact   [Apr-03-18 01:23PM  CNBC Videos]

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