Goldman Sachs on Century Aluminum

In a research note released Monday, Goldman Sachs analyst Sal Tharani Upgraded Century Aluminim Co. to a Neutral from a Sell. The analyst stated, “We were wrong on CENX as its cost cutting initiatives.” The analyst continued to state that the price of aluminum was better than they had expected and contributed to the jump in CENX's stock price. In addition, the analyst is raising 2014, 2015, and normalized earnings per share estimate to $0.32, $1.00 and $1.50, from (0.02), $0.45 and $0.75, respectively. This is primarily due to better aluminum all-in pricing, cost cutting measures, and CENX's new power purchase strategy. Shares of the company are fairly neutral on Monday and are up 58 percent year-to-date.