Century Aluminum (NASDAQ:CENX) Stock, Quote.Headers.trade-ideas

Century Aluminum

Century Aluminum Co produces primary aluminum standard grade and value-added products. The firm operates smelter facilities in the United States and Iceland. The majority of revenue is generated from Glencore, which agreed to purchase nearly all of Century Aluminum's North American production. Century purchases nearly all of its alumina from Glencore. The company produces high purity aluminum, standard grade aluminum sow and tee bars, and value-added billet and foundry products. Century also owns a carbon anode production facility in the Netherlands.

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Top stories: 1. IperionX and Vegas Fastener co-producing titanium fasteners for U.S. Army. 2. Universal Stainless reports record Q1 sales. 3. Century Aluminum reports Q1 earnings and chosen for $500M investment. 4. Ryerson Holding reports Q1 earnings and starts new operations.

IperionX Partners With Vegas Fastener; Universal Stainless Hits Record Margins; Century Aluminum&#39;s Sales Downturn And More: Wednesday&#39;s Top Mining Stories

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Shares of  Ultragenyx Pharmaceutical Inc.  (NASDAQ: RARE) fell sharply during Monday’s session after the company revealed new data from the Phase 1/2 study of GTX-102 for Angelman syndrome, a genetic disorder causing developmental disabilities and nerve-related symptoms.

Why Ultragenyx Pharmaceutical Shares Are Trading Lower By Around 9%? Here Are Other Stocks Moving In Monday&#39;s Mid-Day Session

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Shares of metals stocks are trading higher following the attempted assassination of Donald Trump, which has lifted stocks that could potentially benefit from a Trump presidency on Monday. During his presidency, Trump raised tariffs on steel and aluminum.

Century Aluminum Co Says Jamalco Refinery Back To Full Production Following Hurricane Beryl; No Injuries To Employees Nor Significant Damage Occurred To Jamalco's Production Facilities Following Hurricane Beryl

U.S. stocks were higher, with the Nasdaq Composite gaining around 100 points on Tuesday.
Shares of Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose sharply in today's session after the company reported second-quarter <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39598234/tesla-q2-deliveries-the-appetizer-to-the-main-event-analyst-says-worst-in-the-rearv">production and delivery figures.</a>
Texas-based Tesla reported second-quarter deliveries that declined from a year ago, although improving from the first quarter.
Tesla shares jumped 8.6% to $227.82 on Tuesday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul>
<li>Wheels Up Experience Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UP#NYSE">UP</a>) shares jumped 46.3% to $3.25 despite a lack of company announcements from the session. The company last week announced a new streamline product portfolio in connection with Delta Air Lines Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), a strategic partner of the on-demand private aviation company.</li>
<li>Lufax Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LU#NYSE">LU</a>) surged 16% to $2.82.</li>
<li>Nikola Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>) gained 14% to $8.43. For the second quarter,  Nikola, via the HYLA brand, wholesaled 72 Class 8 Nikola hydrogen fuel cell trucks, above the high end of truck sales guidance of 60 units. </li>
<li>Century Aluminum Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) shares rose 12% to $18.67.</li>
<li>Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>) gained 10% to $3.7590 after the company announced it received an additional $55 million investment from Stellantis following its recent flight test milestone.</li>
<li>DouYu International Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOYU#NASDAQ">DOYU</a>) rose 9.7% to $12.65.</li>
<li>Viasat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) gained 9.6% to $13.78.</li>
<li>Iris Energy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>) rose 8.7% to $13.72 after the company on Monday provided a business update and announced that the 2024 expansion was fully funded.</li>
<li>Clear Channel Outdoor Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCO#NYSE">CCO</a>) gained 8.7% to $1.5550.</li>
<li>Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) climbed 7.5% to $14.97 after the company released second-quarter production figures.</li>
</ul>
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BMO Capital analyst Katja Jancic maintains Century Aluminum (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) with a Market Perform and raises the price target from $15 to $16.

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BMO Capital Maintains Market Perform on Century Aluminum, Raises Price Target to $16

Top Stories for May 1, 2024:
1. IperionX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPX#NASDAQ">IPX</a>) and Vegas Fastener Manufacturing have partnered to develop and manufacture <a href="https://www.benzinga.com/news/24/05/38549587/iperionx-and-vegas-fastener-to-co-produce-titanium-fasteners-for-u-s-army">titanium alloy fasteners</a> and precision components for critical sectors, including the U.S. Army Ground Vehicle Systems Center. 
This collaboration aims to create products with exceptional strength-to-weight ratios and corrosion resistance for aerospace, naval, oil and gas and other high-performance industries.
2. Q1 sales for Universal Stainless (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAP#NASDAQ">USAP</a>) reached $77.6 million, nearly matching the previous record and showing an 18% increase from Q1 2023. 
Gross margin hit a 12-year high at 18.9%, despite a $1.3 million cost from raw materials, and net income rose 59% to $4.1 million
Operations cash flow was $10.3 million, up 39%, with a $325 million backlog due to strong orders, particularly in the aerospace sector.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/general/biotech/24/04/38535093/april-showers-on-wall-street-miners-utilities-emerge-as-bright-spots-in-gloomy-market">April Showers On Wall Street: Miners, Utilities Emerge As Bright Spots In Gloomy Market</a>
3. Century Aluminum (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) reported Q1 2024 net sales of $489.5 million and net income of $246.8 million, with adjusted EBITDA at $25 million. 
The company experienced a $22.8 million sales drop due to lower premiums, despite an aluminum price increase to $2,190 per ton, and cash and liquidity totaled $302 million.&nbsp;
Adjusted net loss for the quarter was $3 million, influenced by exceptional items, including a large gain from an acquisition.
Notably, Century was chosen for a $500 million investment by the U.S. Department of Energy for a new green aluminum smelter and announced a joint venture to develop a low carbon billet casthouse.&nbsp;
4. Ryerson Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RYI#NYSE">RYI</a>) reported Q1 earnings with revenue of $1.24 billion from 497,000 tons shipped at an average price of $2,493 per ton. 
The company faced a net loss of $7.6 million and adjusted EBITDA of $40.2 million amid challenging conditions and costs from capital investments and system upgrades.&nbsp;
Debt increased to $497 million, with net debt at $455 million, but Ryerson started operations at a new service center, completed a major enterprise resource planning integration and announced $40 million in expected annual cost savings.&nbsp;
The company plans to spend $110 million on capital expenditures in 2024, reducing to $50 million in 2025.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/news/large-cap/24/04/38500350/first-quantum-minerals-closes-ravensthorpe-nickel-mine-cuts-330-jobs">First Quantum Minerals Closes Ravensthorpe Nickel Mine, Cuts 330 Jobs</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
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IperionX Partners With Vegas Fastener; Universal Stainless Hits Record Margins; Century Aluminum's Sales Downturn And More: Wednesday's Top Mining Stories

Century Aluminum shares are trading lower following a Q1 revenue miss.

Century Aluminum (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) reported quarterly losses of $(0.03) per share which beat the analyst consensus estimate of $(0.17) by 82.35 percent. This is a 72.73 percent increase over losses of $(0.11) per share from the same period last year. The company reported quarterly sales of $489.50 million which missed the analyst consensus estimate of $492.65 million by 0.64 percent. This is a 11.39 percent decrease over sales of $552.40 million the same period last year.

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Century Aluminum Q1 Adj $(0.03) Beats $(0.17) Estimate, Sales $489.50M Miss $492.65M Estimate

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Lawmakers Push For Probe On Unfair Trade In Aluminum Extrusions

Shares of steel and aluminum stocks are trading higher on reports indicating US President Biden will call for tripling tariffs on Chinese steel and aluminum.

Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rare#NASDAQ">RARE</a>) fell sharply during Monday&rsquo;s session after the company revealed new data from the Phase 1/2 study of GTX-102 for Angelman syndrome, a genetic disorder causing developmental disabilities and nerve-related symptoms.
Ultragenyx Pharmaceutical shares dipped 9.4% to $42.46 on Monday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Soligenix, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sngx#NASDAQ">SNGX</a>) shares surged 71.5% to $0.6679 after the company announced that it was granted orphan drug designation to the active ingredient in MarVax for the prevention and post-exposure prophylaxis against MARV infection by the FDA.</li>
<li>Longeveron Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lgvn#NASDAQ">LGVN</a>) surged 54% to $2.6350 following insider buys from multiple company executives.</li>
<li>SuperCom Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/spcb#NASDAQ">SPCB</a>) shares gained 39.4% to $0.3849 after jumping around 18% on Friday.</li>
<li>Piedmont Lithium Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pll#NYSE">PLL</a>) shares gained 32.1% to $16.75 following a 5% decline on Friday.</li>
<li>Snap One Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/snpo#NASDAQ">SNPO</a>) surged 31.6% to $10.71 after the company announced that it will be acquired by Resideo Technologies.</li>
<li>Organovo Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/onvo#NASDAQ">ONVO</a>) shares surged 30.9% to $1.32 after the company announced Phase 2 results for FXR314. Study results demonstrated statistically significant reduction in liver fat content from baseline in patients receiving FXR314 compared to placebo.</li>
<li>Kuke Music Holding Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kuke#NASDAQ">KUKE</a>) jumped 27% to $2.7650.</li>
<li>HUB Cyber Security Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hubc#NASDAQ">HUBC</a>) gained 24% to $1.61 after gaining over 11% on Friday.</li>
<li>Edgio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/egio#NASDAQ">EGIO</a>) gained 24% to $22.18.</li>
<li>Kaival Brands Innovations Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kavl#NASDAQ">KAVL</a>) surged 23.6% to $3.30.</li>
<li>Envoy Medical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coch#NASDAQ">COCH</a>) gained 22.6% to $6.19.</li>
<li>Medical Properties Trust, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mpw#NYSE">MPW</a>) rose 19.9% to $4.7850 after the company announced that it sold its majority interest in Utah Hospitals.</li>
<li>CareMax, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cmax#NASDAQ">CMAX</a>) climbed 19.5% to $3.78.</li>
<li>SES AI Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ses#NYSE">SES</a>) surged 18.7% to $1.77.</li>
<li>Mobile-health Network Solutions (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mndr#NASDAQ">MNDR</a>) gained 17.7% to $17.67.</li>
<li>Adial Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adil#NASDAQ">ADIL</a>) rose 16.7% to $2.72.</li>
<li>ProKidney Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prok#NASDAQ">PROK</a>) gained 16.7% to $2.0426.</li>
<li>Biotricity, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/btcy#NASDAQ">BTCY</a>) rose 16.5% to $1.34.</li>
<li>Yatsen Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ysg#NYSE">YSG</a>) gained 13.3% to $3.41.</li>
<li>Destiny Tech100 Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dxyz#NASDAQ">DXYZ</a>) shares gained 12.8% to $32.71 after dipping 42% on Friday.</li>
<li>Encore Wire Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wire#NASDAQ">WIRE</a>) surged 11.7% to $291.60 after the company entered an agreement to be acquired by Prysmian for $290 per share in cash.</li>
<li>Century Aluminum Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cenx#NASDAQ">CENX</a>) gained 9.5% to $18.05.</li>
<li>Extreme Networks, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/extr#NASDAQ">EXTR</a>) gained 5.7% to $11.31. B. Riley Securities analyst Dave Kang upgraded Extreme Networks from Neutral to Buy and maintained a $14 price target.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Marinus Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrns#NASDAQ">MRNS</a>) shares dipped 77% to $1.6800 after the company provided an update on the Phase 3 RAISE trial and reported preliminary Q1 financial results.</li>
<li>Swvl Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/swvl#NASDAQ">SWVL</a>) fell 35% to $8.58.</li>
<li>VIA optronics AG (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/viao#NASDAQ">VIAO</a>) dipped 34% to $0.2765.</li>
<li>Veru Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/veru#NASDAQ">VERU</a>) fell 24% to $1.1550. Oppenheimer analyst Leland Gershell reiterated Veru with an Outperform and lowered the price target from $7 to $5.</li>
<li>Rent the Runway, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rent#NASDAQ">RENT</a>) dipped 19.8% to $15.42.</li>
<li>NextPlat Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxpl#NASDAQ">NXPL</a>) fell 19.8% to $1.50 after jumping 24% on Friday. The company entered into a definitive business combination agreement with its majority-owned subsidiary Progressive Care Inc.</li>
<li>Cyngn Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cyn#NASDAQ">CYN</a>) shares fell 19.1% to $0.1170 after declining around 7% on Friday.</li>
<li>ProMIS Neurosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pmn#NASDAQ">PMN</a>) fell 15.6% to $1.95.</li>
<li>Biohaven Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bhvn#NASDAQ">BHVN</a>) dipped 15.4% to $44.90. Biohaven showcased innovative neuroscience portfolio with 20 presentations at the 2024 AAN Annual Meeting.</li>
<li>Neumora Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nmra#NASDAQ">NMRA</a>) shares declined 15.1% to $11.48 after the FDA placed a clinical hold on the company&#39;s Phase 1 NMRA-266 study.</li>
<li>Alterity Therapeutics Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/athe#NASDAQ">ATHE</a>) dipped 15% to $2.49.</li>
<li>Surf Air Mobility Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/srfm#NASDAQ">SRFM</a>) fell 15% to $0.53.</li>
<li>IM Cannabis Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/imcc#NASDAQ">IMCC</a>) fell 14.2% to $0.5399.</li>
<li>Polestar Automotive Holding Uk Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/psny#NASDAQ">PSNY</a>) fell 12.7% to $1.2699. On Friday, Cantor Fitzgerald analyst Andres Sheppard reiterated Polestar Automotive with an Overweight and maintained a $5 price target.</li>
<li>Desktop Metal, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dm#NYSE">DM</a>) fell 10.8% to $0.8510.</li>
<li>Local Bounti Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/locl#NYSE">LOCL</a>) declined 10.2% to $2.1550.</li>
<li>Q32 Bio Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qttb#NASDAQ">QTTB</a>) fell 10% to $26.00.</li>
<li>SunPower Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/spwr#NASDAQ">SPWR</a>) fell 8.3% to $2.2750.</li>
<li>Informatica Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/infa#NASDAQ">INFA</a>) dipped 8.1% to $35.36 amid increased volatility following reports suggesting Salesforce is in talks to buy the company.</li>
<li>TRACON Pharmaceuticals Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tcon#NASDAQ">TCON</a>) declined 8.1% to $2.1699 after falling around 9% on Friday.</li>
<li>NOVONIX Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nvx#NYSE">NVX</a>) declined 7.2% to $2.63.</li>
<li>AudioEye, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aeye#NASDAQ">AEYE</a>) fell 6.6% to $12.86 after declining around 7% on Friday.</li>
<li>OncoCyte Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ocx#NASDAQ">OCX</a>) fell 6.6% to $2.5301. Oncocyte announced a transplant assay partnership agreement with Bio-Rad laboratories.</li>
<li>BlackBerry Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bb#NYSE">BB</a>) fell 6.1% to $2.8650.</li>
</ul>
&nbsp;
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Why Ultragenyx Pharmaceutical Shares Are Trading Lower By Around 9%? Here Are Other Stocks Moving In Monday's Mid-Day Session

U.S. stocks were higher, with the Dow Jones index gaining over 100 points on Monday.
Shares of M&amp;T Bank Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mtb#NYSE">MTB</a>) rose sharply during Monday&rsquo;s session after the company reported <a href="https://www.benzinga.com/quote/MTB/earnings">first-quarter financial results.</a>
Revenue of $2.260 billion, slightly missing the consensus of $2.263 billion. EPS was $3.09, which came in line with the consensus, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
M&amp;T Bank shares surged 5.4% to $141.88 on Monday.
Here are some other big stocks recording losses in today&rsquo;s session.
<ul>
<li>Snap One Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/snpo#NASDAQ">SNPO</a>) shares jumped 31.6% to $10.71 after the company announced that it will be acquired by Resideo Technologies.</li>
<li>Medical Properties Trust, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mpw#NYSE">MPW</a>) gained 19.9% to $4.7850 after the company announced that it sold its majority interest in Utah Hospitals.</li>
<li>SES AI Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ses#NYSE">SES</a>) gained 18.7% to $1.77.</li>
<li>Mobile-health Network Solutions (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mndr#NASDAQ">MNDR</a>) shares rose 17.7% to $17.67.</li>
<li>Yatsen Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ysg#NYSE">YSG</a>) jumped 13.3% to $3.41.</li>
<li>Destiny Tech100 Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dxyz#NASDAQ">DXYZ</a>) shares rose 12.8% to $32.71 after dipping 42% on Friday.</li>
<li>Encore Wire Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wire#NASDAQ">WIRE</a>) jumped 11.7% to $291.60 after the company entered an agreement to be acquired by Prysmian for $290 per share in cash.</li>
<li>Century Aluminum Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cenx#NASDAQ">CENX</a>) shares climbed 9.5% to $18.05.</li>
<li>BRF S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brfs#NYSE">BRFS</a>) gained 7.5% to $3.43 after JP Morgan upgraded the stock from Neutral to Overweight. Goldman Sachs analyst Thiago Bortoluci upgraded BRF from Sell to Neutral and raised the price target from $1.9 to $3.1.</li>
<li>Luminar Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lazr#NASDAQ">LAZR</a>) gained 7% to $1.3901. Luminar is expected to report financials for the first quarter of 2024 after the closing bell on Tuesday, May 7, 2024.</li>
<li>ProFrac Holding Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acdc#NASDAQ">ACDC</a>) gained 6.3% to $8.99. B of A Securities analyst Chase Mulvehill maintained ProFrac with a Neutral and raised the price target from $8.5 to $9.5.</li>
<li>Alcoa Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aa#NYSE">AA</a>) surged 6% to $37.30.</li>
<li>Extreme Networks, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/extr#NASDAQ">EXTR</a>) rose 5.7% to $11.31. B. Riley Securities analyst Dave Kang upgraded Extreme Networks from Neutral to Buy and maintained a $14 price target.</li>
<li>Spirit Airlines, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/save#NYSE">SAVE</a>) surged 4.4% to $4.3612. Spirit Airlines said it expects a first-quarter FY24 revenue of about $1.265 billion against the previous estimate of $1.250 billion &ndash; $1.280 billion and the consensus of $1.273 billion.</li>
<li>Graphjet Technology (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gti#NYSE">GTI</a>) rose 3.3% to $10.70.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/24/04/38247378/this-analyst-with-86-accuracy-rate-sees-around-32-upside-in-western-digital-here-are-5-stock-picks-f"> This Analyst With 86% Accuracy Rate Sees Around 32% Upside In Western Digital - Here Are 5 Stock Picks For Last Week From Wall Street&#39;s Most Accurate Analysts</a>

ACDC

BRFS

LAZR

SAVE

M&T Bank Reports Q1 Earnings, Joins Snap One, Encore Wire And Other Big Stocks Moving Higher On Monday

SCCO

Shares of metals stocks are trading higher following sanctions banning the delivery of Russian metals on the London Metal Exchange.

Top Stories for March 25, 2024:
1. The U.S. Department of Energy selected Century Aluminum Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) for award negotiations for up to $500 million in funding to build a <a href="https://www.benzinga.com/markets/equities/24/03/37911266/century-aluminums-production-leap-500m-boost-to-forge-the-first-new-us-primary-aluminum-smelter-">new aluminum smelter</a>.
The funds from the Bipartisan Infrastructure Law and Inflation Reduction Act are earmarked for 33 projects across 20 states and aim to decarbonize energy-intensive industries and bolster the U.S. economy.&nbsp;
This marks the potential construction of the first U.S. primary aluminum smelter in 45 years, expected to double the current industry size and support the green energy transition through improved domestic supply chains.
Century plans to locate its new smelter in the Ohio/Mississippi River Basins, anticipating over 1,000 full-time jobs and 5,500 construction jobs, with the United Steelworkers union representing the workforce.
2. Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) was also selected for award negotiations for up to $575 million in DOE funding for decarbonization projects at its Ohio and Pennsylvania facilities.
The projects aim to significantly cut GHG emissions, lower operating costs and support union jobs.&nbsp;
The projects include replacing Middletown Works&#8217; blast furnace with a hydrogen-ready Direct Reduced Iron (DRI) plant and Electric Melting Furnaces.
The facility will have fueling flexibility either reducing ironmaking carbon emissions by over 50% with natural gas or reducing them by over 90% with a mix of natural gas and hydrogen, aligning with DOE&#8217;s &#8220;Hydrogen Earthshot&#8221; initiative.&nbsp;
This upgrade is expected to save $450 million annually and secure 2,500 existing jobs, adding 170 new positions and 1,200 construction jobs.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/m-a/24/03/37899805/investors-advocate-for-glencore-to-keep-coal-assets-despite-rising-emissions">Investors Push For Glencore To Keep Coal Assets Despite Rising Emissions</a> 
3. Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) is selling its Akyem gold mine in Ghana due to high gold prices, with Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) handling the sale.
Chinese companies like Shandong Gold Mining and Zijin Mining, Chifeng Jilong Gold Mining and the Australian firm Perseus Mining have all expressed interest.&nbsp;
This move is part of Newmont&#8217;s plan to sell six non-core assets, including four North American mines and one in Australia
The goal is to raise $2 billion post-Newcrest Mining acquisition, reduce debt by $1 billion and achieve $100 million in free cash flow through cost-cutting and integration efforts.&nbsp;
Newmont is now targeting a gold production increase to 6.7 million ounces by 2028.
4. Ivanhoe Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IE#NYSE">IE</a>) secured a 60% stake in the Samapleu-Grata Nickel-Copper Project in the Ivory Coast, becoming a 60/40 joint venture with Sama Resources. 
Forecasting production of copper, nickel and other by-products, this project is expected to have a 16-year lifespan with initial costs estimated at $338 million.
The venture also shows promising economic assessments with a pre-tax net present value of $463 million and internal rate of return of 28.2%.&nbsp;
Ivanhoe also holds a 22.7% share in Sama Resources, suggesting strong future prospects for copper concentrate production quality and quantity.
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37894749/gold-rush-begins-as-fed-hints-at-rate-cuts-5-mining-stocks-glitter-with-over-30-ral">Gold Rush Begins As Fed Hints At Rate Cuts: 5 Mining Stocks Glitter With Over 30% Rally This Month</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!

Century Aluminum And Cleveland-Cliffs Selected For DOE Funding; Newmont Sells Akyem Gold Mine And More: Monday's Top Mining Stories

Century Aluminum shares are trading higher after the company it was selected by the Department of Energy to receive $500 million to build a new green aluminum smelter to accelerate industrial decarbonization.

Century Aluminum Company&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) has been selected by the U.S. Department of Energy Office of Clean Energy Demonstrations to begin award negotiations for up to $500 million in Bipartisan Infrastructure&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/03/g37909051/century-aluminum-selected-by-u-s-department-of-energy-to-receive-500-million-investment-to-build-n" rel="noreferrer noopener">Law and Inflation Reduction Act funding.</a>
The funding is to build a new aluminum smelter as part of the Industrial Demonstrations Program (IDP).&nbsp;
Century&#8217;s Green Aluminum Smelter Project is one of 33 projects across more than 20 states to receive funding designed for commercial-scale decarbonization solutions.
The aim of the fund is to move energy-intensive industries toward net-zero and strengthen local economies, create, and maintain high-quality jobs, and reduce greenhouse gas emissions.
Century plans to build the first new U.S. primary aluminum smelter in 45 years that would double the size of the current U.S. primary aluminum industry.
The project is expected to strengthen domestic supply chains important for green energy transition, including electric vehicles, renewable-energy production and storage, building and construction, and sustainable packaging.
The project is expected to create more than 1,000 full-time jobs represented by the United Steelworkers and over 5,500 construction jobs.
Price Action: CENX shares are trading higher by 3.03% at $13.62 in premarket on the last check Monday.

Equities

General

Century Aluminum's Production Leap: $500M Boost To Forge The First New US Primary Aluminum Smelter In 45 Years

With the help of this funding, Century plans to build the first new U.S. primary aluminum smelter in 45 years. Upon completion, the smelter would double the size of the current U.S. primary aluminum industry.

Century Aluminum Says Selected By US Department Of Energy To Receive $500M Investment To Build New Green Aluminum Smelter To Accelerate Industrial Decarbonization

U.S. stock futures were lower this morning, with the Dow futures falling by around 50 points on Monday.
Shares of Esperion Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/espr#NASDAQ">ESPR</a>) rose sharply in&nbsp;today&rsquo;s pre-market trading.
The U.S. FDA approved broad new labels for Esperion&#39;s NEXLETOL&reg; and NEXLIZET&reg; to prevent heart attacks and cardiovascular procedures in both primary and secondary <a href="https://www.benzinga.com/quote/ESPR">prevention patients, regardless of statin use</a>.
Esperion Therapeutics shares jumped 12.7% to $2.58 in pre-market trading.
Here are some big stocks recording gains in today&rsquo;s pre-market trading session.
<ul>
<li>Forge Global Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/frge#NYSE">FRGE</a>) shares gained 22.8% to $2.86 in pre-market trading after gaining 13% on Friday.</li>
<li>Canopy Growth Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgc#NASDAQ">CGC</a>) gained 19.5% to $9.17 in pre-market trading. The German government approved legislation which legalizes the possession and cultivation of cannabis beginning April 1.</li>
<li>Masimo Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/masi#NASDAQ">MASI</a>) shares climbed 13.8% to $153.65 in pre-market trading after the company announced it has authorized management to evaluate a proposed separation of its consumer business. The company also reaffirmed its first-quarter and FY24 guidance.</li>
<li>Cronos Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cron#NASDAQ">CRON</a>) rose 9.6% to $2.86 in pre-market trading after gaining 9% on Friday.</li>
<li>Nuvation Bio Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nuvb#NASDAQ">NUVB</a>) gained 8.2% to $2.50 in pre-market trading after gaining 3% on Friday.</li>
<li>Tilray Brands, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlry#NASDAQ">TLRY</a>) gained 5.2% to $2.43 in pre-market trading after jumping 18% on Friday. Germany approved the legalization of cannabis for adult use.</li>
<li>WK Kellogg Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/klg#NYSE">KLG</a>) rose 4.8% to $19.49 in pre-market trading.</li>
<li>GoodRx Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gdrx#NASDAQ">GDRX</a>) shares climbed 4.1% to $6.85 in pre-market trading. Wells Fargo analyst Stan Berenshteyn upgraded GoodRx from Equal-Weight to Overweight and announced a $10 price target.</li>
<li>Century Aluminum Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cenx#NASDAQ">CENX</a>) shares gained 3.6% to $13.69 in pre-market trading.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/03/37885621/investor-optimism-improves-slightly-dow-jumps-over-250-points"> Investor Optimism Improves Slightly; Dow Jumps Over 250 Points </a>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a>

Pre-Market Outlook

CRON

ESPR

FRGE

GDRX

MASI

NUVB

TLRY

Esperion Therapeutics, Masimo And Other Big Stocks Moving Higher In Monday's Pre-Market Session

Top Stories for March 13, 2024:
1. MX Holdings and Century Aluminum Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>) are forming a joint venture to create and market low-carbon secondary billet, focusing on advanced alloys with high levels <a href="https://www.benzinga.com/topic/mining">of recycled content.</a> 
The venture aims to offer quality billets that help customers meet sustainability goals, with production starting in 2026. The facility location is under consideration in the Ohio Valley region.
The companies are aiming for an annual output of 250 million pounds, making it the largest American-owned secondary billet supplier globally.&nbsp;
Matt Rohm, CEO of MX Holdings, highlighted the complementary partnership and the venture's commitment to environmental goals.
Rohm said, "In addition to the joint venture's offering, we plan to continue to produce billet at our existing, wholly owned Pennex facilities. Each company will produce various alloys to meet specific customer needs."
2. TMC the metals company Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMC#NASDAQ">TMC</a>) praised new U.S. legislation aimed at supporting seafloor nodule collection, processing and refining, along with advancing international rules for seafloor resources. 
The Responsible Use of Seafloor Resources Act (RUSRA) seeks U.S. backing for ethical polymetallic nodule collection and federal investment in refining infrastructure for critical minerals, essential for the energy transition and national defense.&nbsp;
This comes as supply challenges for critical battery metals are on the rise due to growing demand from the automotive and battery industries to comply with incentives laid out in the Inflation Reduction Act.&nbsp;
The bill has wide support across offshore energy, marine exploration and global research sectors.
Chairman and CEO of The Metals Company Gerard Barron said, "we eagerly await the forthcoming Pentagon report on nodules as directed by the House Armed Services Committee. The Pentagon's ability and willingness to support a feasibility study for a domestic refinery could help establish mineral independence for the U.S. in nickel, cobalt and manganese."
Also Read:<a href="https://www.benzinga.com/etfs/sector-etfs/24/03/37568022/gold-etfs-diverge-from-spot-prices-record-ninth-consecutive-month-of-outflows"> </a><a href="https://www.benzinga.com/markets/asia/24/03/37633689/us-lawmakers-mull-bill-to-support-deep-sea-mining-aimed-at-challenging-chinas-grip-on-critical-miner">US Lawmakers Mull Bill To Support Deep-Sea Mining Aimed At Challenging China&#8217;s Grip On Critical Minerals</a>
3. ArcelorMittal (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AMSYF#OTC">AMSYF</a>) agreed to buy a 28.4% stake (65,243,206 shares) in Vallourec from Apollo Global Management for €955 million, paying €14.64 per share. 
The deal is expected to close in the second half of the year pending regulatory approval and will boost ArcelorMittal&#8217;s presence in the high-value tubular market.&nbsp;
Vallourec is a leader in tubular solutions for the energy sector and more, with a focus on low-carbon production in the U.S. and Brazil.&nbsp;
Vallourec&#8217;s 2023 EBITDA was €1.2 billion from €5.1 billion in sales, with energy transition business expected to grow significantly by 2030.&nbsp;
ArcelorMittal will not seek to acquire more Vallourec shares within six months.
4. Ferroglobe PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSM#NASDAQ">GSM</a>) appointed Carsten Larsen as chief commercial officer starting April 1, 2024. 
Larsen has 30 years of international experience in business growth, sales and team leadership, and comes from Agilyx ApS, a plastic recycling tech company.&nbsp;
His background includes extensive roles at Dow where he covered global markets in Germany, Denmark, Sweden and South Africa.
5. Citigroup analyst Alexander Hacking downgraded Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) from Buy to Neutral and announced a <a href="https://www.benzinga.com/quote/CLF/analyst-ratings">$22 price target</a>.
6. Morgan Stanley analyst Carlos De Alba downgraded MP Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) from Overweight to Equal-Weight and announced a <a href="https://www.benzinga.com/quote/MP/analyst-ratings">$15.50 price target</a>.
Now Read:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37569351/gold-rises-to-all-time-highs-marks-longest-winning-streak-since-july-2000-driven-by"> </a><a href="https://www.benzinga.com/news/24/03/37623431/lithium-mining-causes-pollution-but-new-methods-could-showcase-more-eco-friendly-approach">Lithium Mining Causes Pollution, But New Methods Could Showcase More Eco-Friendly Approach</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
Image created using artificial intelligence with Midjourney.

AMSYF

MX Holdings, Century Aluminum Form Joint Venture; TMC Supports Seafloor Legislation And More: Wednesday's Top Mining Stories

Top Stories for Feb. 22, 2024:
1. Century Aluminum Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cenx#NASDAQ">CENX</a>) announced fourth-quarter and full-year <a href="https://www.benzinga.com/quote/CENX/earnings">2023 financial results.</a>
Century reported fourth-quarter net sales of $512.3 million, with a net income of $30 million ($0.30 per diluted share) and an adjusted net income of $40 million ($0.39 per share).
The quarter also saw an ending cash balance of $88.8 million, strong liquidity of $312.5 million and a significant $59.3 million credit from the Inflation Reduction Act.
For the full year, Century&#39;s net sales reached $2.2 billion, despite a net loss of $43.1 million ($0.47 per share), but achieved an adjusted net income of $30.7 million ($0.33 per share).
2023 also saw net cash from operating activities at $105.6 million, reinvestment in capital projects, debt reduction, the acquisition of a 55% stake in Jamalco, a new power agreement for Mt. Holly and a five-year union labor contract for the Sebree smelter.
2. Gold Fields (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gfi#NYSE">GFI</a>) reported full-year 2023 financial results.
The company met its original cost guidance despite inflation and operational challenges, with production at 2.244Moz (99.7% of the 2.250Moz &ndash; 2.300Moz target) and group all-in sustaining costs (AISC) at $1,295/oz, which was better than the forecasted $1,300/oz to $1,340/oz. All-in costs (AIC) were within the expected range at $1,512/oz.
Financially, favorable exchange rates and a strong gold price ($1,942/oz) led to steady normalized earnings of $900 million and free cash flow from operations of $1,002 million, maintaining dividends at R 7.45/share, in line with their policy.
Despite these financial achievements, the company reported three fatalities, underscoring a need for improved safety.
3. Coeur Mining, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cde#NYSE">CDE</a>) announced fourth-quarter and full-year 2023 financial results.
A strong Q4 led to a 35% revenue increase and a more-than-doubling of adjusted EBITDA, driven by production boosts at Rochester, Kensington and Wharf.
The company met its full-year gold and silver production guidance for 2023, with gold up 29% and silver up 34% quarter-over-quarter, totaling 317,671 ounces and 10.3 million ounces, respectively.
Rochester&#39;s expansion is on track, expecting to triple throughput to 32 million tons annually by the first half of 2024, with a notable year-over-year production increase and significant cost reductions also anticipated.
Wharf achieved a record annual free cash flow of $82 million, exceeding four times the initial investment since its 2015 acquisition.
At Silvertip, drilling in the Southern Silver Zone uncovered one of the highest-grade intercepts ever, marking a significant find in this expanding area.
4. Kaiser Aluminum Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kalu#NASDAQ">KALU</a>) reported fourth-quarter and full-year 2023 financial results.
The company reported fourth-quarter net sales of $722 million and net income of $8 million ($0.47 per diluted share), with adjusted net income at $10 million ($0.60 per diluted share) and adjusted EBITDA of $52 million (14.3% margin).
The Aerospace/High Strength sectors also achieved record net sales and conversion revenue during this period.
For the full year, net sales reached $3.1 billion with net income of $47 million ($2.92 per diluted share) while adjusted net income stood at $44 million ($2.74 per diluted share).
Adjusted EBITDA was $210 million (14.3% margin), and the company maintained strong liquidity, with $599 million as of Dec. 31, 2023.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/02/37268177/the-goat-jim-cramer-says-nvidias-jensen-huang-is-a-bigger-visionary-than-teslas-elon-musk">&#39;The GOAT&#39;: Jim Cramer Says Nvidia&#39;s Jensen Huang Is A Bigger Visionary Than Tesla&#39;s Elon Musk</a>
Photo: Shutterstock

Century Aluminum, Gold Fields, Coeur Mining And Kaiser Aluminum Announce Financial Results: Thursday's Top Mining Stories

Guidance

Century Aluminum Sees Q1 2024 Adj. EBITDA $5M-$15M Vs $24.3M Estimate

Copper selloff accelerates but JPM analysts say slip could be healthy long term

Aluminium to outperform other base metals as supply risks worsen, ANZ says

Century Aluminum: Looming Capex Requirements And Weak Fundamentals

Copper drops to two-month low on more concerns over China demand recovery

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The current market rally has been one of the strongest to date. The Nasdaq index has returned almost 20% year-to-date (YTD), and that is after it gained 37% in 2023. The S&amp;P 500 also gained 21.9% in 2023 and is up 14.5% halfway through 2024. You may argue that the Covid-19 recovery has had a lot to do with these numbers, but even if you compare returns since Feb. 2020, the rally so far has been solid.



Nevertheless, it&rsquo;s wise keep an eye out for stocks to sell. Circumstances can head south quickly, and certain businesses are in a very vulnerable position. It makes sense to trim your positions in these stocks and invest in stocks that provide more quality and value.



I&rsquo;m not a doomer by any means, and I still think you should invest in solid businesses with solid fundamentals. As long as Wall Street holds up the premium as the underlying business grows, there&rsquo;s not much to worry about in the long run. However, when a business is expected to slow down or is in a cyclical market, you shouldn&rsquo;t let the euphoria bring your guard down.



<h2>AudioEye (AEYE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/06/aeye-1600-300x169.png" alt="AudioEye logo on their website. AEYE stock."><div>Source: Pavel Kapysh / Shutterstock</div></div>AudioEye (NASDAQ:<a href="https://investorplace.com/stock-quotes/aeye-stock-quote/">AEYE</a>) provides digital accessibility solutions to make websites accessible for people with disabilities. While AEYE stock has soared 254% over the past year, riding the AI hype wave, I believe the momentum is reversing, and shares could tumble much further.



The company is facing intensifying competition as bigger, smarter AI models emerge that can provide similar accessibility services for free. Look into OpenAI&rsquo;s GPT-4o model, and you&rsquo;ll be surprised at what it can do. AudioEye&rsquo;s first quarter results were lackluster at best, with revenue inching up just <a href="https://www.nasdaq.com/articles/audioeye-moves-into-the-top-100-stocks-to-buy.-should-investors-jump-on-the-bandwagon" target="_blank">4% year-over-year (YOY) to $8.1 million</a>. You&rsquo;re paying <a href="https://seekingalpha.com/symbol/AEYE/earnings/estimates" target="_blank">almost 50 times forward earnings</a> for very sluggish growth. Even EPS growth is expected to slow down.



<div><a href="https://investorplace.com/wp-content/uploads/2024/06/chart-60.png"><img width="1200" height="628" src="https://investorplace.com/wp-content/uploads/2024/06/chart-60.png" alt="Stocks to sell: AEYE EPS estimates chart"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div>Management is hyping up potential tailwinds from new accessibility regulations in the U.S. and Europe. However, with AudioEye&rsquo;s single-digit penetration among key reseller partners today, I&rsquo;m skeptical they can fully capitalize on any demand surge. AudioEye&rsquo;s first-mover advantage is rapidly eroding as the AI arms race heats up.



I think it&rsquo;s prudent for investors to take some chips off the table. Trimming positions into this AI-driven euphoria seems like the best move.



<h2>Williams-Sonoma (WSM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/WSM1600-300x169.jpg" alt="Williams-Sonoma (WSM) store in a shopping mall"><div>Source: designs by Jack / Shutterstock.com</div></div>Williams-Sonoma (NYSE:<a href="https://investorplace.com/stock-quotes/wsm-stock-quote/">WSM</a>) is a leading specialty retailer of high-quality home products. The stock has been on an absolute tear, soaring 148% over the past year and hitting fresh highs after posting <a href="https://www.fool.com/earnings/call-transcripts/2024/05/22/williams-sonoma-wsm-q1-2024-earnings-call-transcri/" target="_blank">strong Q1 results</a>.



However, the peak euphoria might be upon us, and this could be an ideal time to take some chips off the table. The company&rsquo;s comparable sales declined 4.9% in Q1, signaling that the pandemic-fueled home goods boom is rapidly cooling off.



<div><a href="https://investorplace.com/wp-content/uploads/2024/06/chart-61.png"><img width="1026" height="651" src="https://investorplace.com/wp-content/uploads/2024/06/chart-61.png" alt="Williams-Sonoma store sales chart"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div>Also, management benefited from a one-time $49 million reversal of freight accruals in the quarter, artificially inflating operating margins to 19.5%. Excluding this, margins would&rsquo;ve been materially lower at 17% to 17.4%. Thus, future margins could struggle.



Regardless, it&rsquo;s hard to justify chasing it at these levels. The risk-reward seems skewed to the downside, especially as consumers tighten discretionary spending.



<h2>Century Aluminum Company (CENX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/09/aluminum-stocks-4-1600-300x169.jpg" alt="stack of aluminum framing construction material"><div>Source: shutterstock.com/happylemon</div></div>Century Aluminum (NASDAQ:<a href="https://investorplace.com/stock-quotes/cenx-stock-quote/">CENX</a>) produces primary aluminum in the U.S. and Iceland. While CENX stock has soared over 65% in the past year, I believe it&rsquo;s time for investors to take profits and sell. The current earnings multiple of 35 times forward earnings is simply too stretched. Even when zooming out, it trades at <a href="https://seekingalpha.com/symbol/CENX/earnings/estimates" target="_blank">11 times 2025 estimated earnings</a>. Production has also gone down in the long run.



<div><a href="https://investorplace.com/wp-content/uploads/2024/06/chart-62.png"><img width="1026" height="364" src="https://investorplace.com/wp-content/uploads/2024/06/chart-62.png" alt="CENX production chart"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div>Despite the company&rsquo;s progress on new initiatives and improving market conditions, I don&rsquo;t see anything exceptional that justifies the current premium valuation. <a href="https://finance.yahoo.com/news/century-aluminum-company-nasdaq-cenx-180949493.html" target="_blank">Adjusted EBITDA of just $25 million</a> in Q1 is good but not great. And while alumina prices have risen, driving some near-term tailwinds, this is a cyclical business that has seen many ups and downs over its history.



So, CENX may be at another cyclical high. The growth and profit potential ahead simply doesn&rsquo;t hint at anything interesting enough to maintain this overvalued stock price. It could be wise to sell into this strength before the pullback gets worse.



<h2>MicroStrategy (MSTR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/mstr1600-2-300x169.png" alt="In this photo illustration, the MicroStrategy (MSTR) Incorporated logo is displayed on a smartphone screen"><div>Source: rafapress / Shutterstock.com</div></div>MicroStrategy (NASDAQ:<a href="https://investorplace.com/stock-quotes/mstr-stock-quote/">MSTR</a>) provides enterprise analytics and business intelligence software. I&rsquo;m very bearish on MSTR stock right now, even though I remain bullish on crypto in the long term. That&rsquo;s because MSTR tends to get extremely overvalued during crypto bull markets. So it would be prudent to take profits here with the stock up a staggering 377% in the past year alone.



While MicroStrategy&rsquo;s subscription services revenue <a target="_blank" href="https://www.investorsobserver.com/news/qm-news/7411922478312219">grew an impressive 22% to $23 million</a>, I believe the downside risks far outweigh any remaining upside potential. The company holds 214,400 Bitcoins at an average purchase price of $35,180 per BTC.



However, this massive Bitcoin position also makes MSTR incredibly vulnerable to any crypto market downturn. If Bitcoin prices pull back, MSTR shares will likely plummet, given how much the stock has run up. Quite frankly, MSTR is only a buy when crypto markets are struggling &ndash; not when they&rsquo;re booming. For now, it&rsquo;s time to lock in gains and steer clear. Insiders are doing just that.



<div><a href="https://investorplace.com/wp-content/uploads/2024/06/chart-63.png"><img width="1200" height="628" src="https://investorplace.com/wp-content/uploads/2024/06/chart-63.png" alt="MSTR insider trades chart"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div><h2>Abercrombie &amp; Fitch (ANF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/11/anf-stock-300x169.jpg" alt="Abercrombie &amp; Fitch (ANF) location with doors open)"><div>Source: Jonathan Weiss / Shutterstock.com</div></div>Abercrombie &amp; Fitch (NYSE:<a href="https://investorplace.com/stock-quotes/anf-stock-quote/">ANF</a>) operates as a specialty retailer of apparel and accessories. ANF delivered record <a href="https://abercrombieandfitchcompany.gcs-web.com/static-files/c328358b-ffb3-41f6-a0ec-b438c6b0aba6" target="_blank">Q1 sales of $1 billion and operating income of $130 million</a> But the stock&rsquo;s 413% surge over the past year has left it overvalued and vulnerable to a steep correction.



The apparel market is notoriously cyclical. And, discretionary stocks like ANF tend to be the first to stumble when economic headwinds intensify. The company had strong sales growth across regions and brands. Yet, analysts are <a href="https://seekingalpha.com/symbol/ANF/earnings/estimates" target="_blank">forecasting a sharp deceleration</a> to just 4% annual revenue growth going forward. I doubt the market will pay a premium for the stock when that happens.



<div><a href="https://investorplace.com/wp-content/uploads/2024/06/chart-65.png"><img width="1200" height="628" src="https://investorplace.com/wp-content/uploads/2024/06/chart-65.png" alt="ANF revenue price chart"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div>With such mediocre growth on the horizon, ANF&rsquo;s valuation of 20 times forward earnings and two times sales is very lofty. Given the challenging macro backdrop for consumer spending, the market is pricing in an unrealistic level of optimism.



<h2>Wingstop (WING)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/06/shutterstock_483096271-1-300x169.jpg" alt="A close-up of a Wingstop (WING) sign on a green circle background."><div>Source: Ken Wolter / Shutterstock.com</div></div>Wingstop (NASDAQ:<a href="https://investorplace.com/stock-quotes/wing-stock-quote/">WING</a>) operates and franchises restaurants specializing in cooked-to-order chicken wings and fries. The stock has been on an absolute tear, soaring 110% over the past year to trade at a staggering 21 times forward sales and 116 times forward earnings.



Truly, Wingstop&rsquo;s growth has been undeniably impressive. Its Q1 <a href="https://www.morningstar.com/company-reports/1220762-wingstop-earnings-firm-cant-stop-beating-street-estimates-but-shares-look-strikingly-expensive" target="_blank">same-store sales surged 21.6%</a>, and 65 net new restaurants opened. However, the current valuation has gotten ahead of itself. The company is now trading more like a high-flying software stock than a restaurant chain.



Yes, management raised their full-year same-store sales guidance to low-double-digits. But how much of this momentum is sustainable? As consumers eventually pull back on discretionary spending amidst economic uncertainty, Wingstop&rsquo;s premium valuation leaves little margin for error. Analysts see little upside.



<div><a href="https://investorplace.com/wp-content/uploads/2024/06/chart-64.png"><img width="1226" height="455" src="https://investorplace.com/wp-content/uploads/2024/06/chart-64.png" alt="Wingstop price targets"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div>It&rsquo;s hard to justify paying such a lofty multiple for a restaurant stock. Wingstop seems priced to perfection.



<h2>Encore Wire (WIRE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/lightning-volt-bolt-electric-1600-300x169.png" alt="neon pink and blue graphic of a lightning bolt"><div>Source: shutterstock.com/wacomka</div></div>Encore Wire (NASDAQ:<a href="https://investorplace.com/stock-quotes/wire-stock-quote/">WIRE</a>) manufactures a wide range of electrical building wire and cable products. The stock has been a standout performer, soaring 437% over the past five years, but I believe the market&rsquo;s exuberance has gone too far. While Encore Wire&rsquo;s underlying business remains solid, there are mounting headwinds that could send the shares lower from here.



For one, EPS has <a target="_blank" href="https://seekingalpha.com/symbol/WIRE/earnings/estimates">struggled to get back to the $37 range</a> seen back in 2022 and is projected to still be around $20 in 2025. Additionally, sales growth has decelerated to the mid-single digits and remains well below the $3 billion peak reached in 2022.



Encore Wire has also <a href="https://www.businesswire.com/news/home/20240414157751/en/Encore-Wire-to-Be-Acquired-by-Prysmian-for-290.00-Per-Share-in-Cash" target="_blank">agreed to be acquired for $290 per share</a>, and the stock is currently trading just a hair below that level.



<div><a href="https://investorplace.com/wp-content/uploads/2024/06/chart-66.png"><img width="1226" height="455" src="https://investorplace.com/wp-content/uploads/2024/06/chart-66.png" alt="Encore wire price targets"> Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div>In my view, this puts a firm ceiling on the upside potential and leaves the stock vulnerable to downside risk if the deal encounters any hiccups. I think it&rsquo;s time for investors to take profits.



On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>
<div>Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on <a href="https://www.linkedin.com/in/omor-ibne-ehsan-56068022b/">LinkedIn</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/7-booming-stocks-to-sell-before-the-bust/">7 Booming Stocks to Sell Before the Bust</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Booming Stocks to Sell Before the Bust

Crude oil scores fourth straight weekly gain as U.S. data indicates solid demand

U.S. imposes tariffs on foreign-made steel, aluminum imports sent via Mexico

Aluminum drops to three-month low as China's economic growth slowed in Q2

Cocoa grinding data indicates resilient demand in Q2, defying expectations, BMI says

Copper futures see longest stretch of session losses since 2020

AAUKF

BOIL

CLNE

COPX

CPER

CRML

CSCCF

DRIP

ESEA

FLNC

FQVLF

GLCNF

GLNCY

GPRE

GUSH

JJCTF

KOLD

METC

MSTR

MTAL

NGLOY

NRGU

SBSW

TECK

TPIC

USAU

USOI

VALE

WING

Press Releases

Century Aluminum Company Reports Fourth Quarter 2023 Results

Jesse Gary, Century's President and CEO, to participate in BMO 2024 Global Metals, Mining & Critical Minerals Conference

MX Holdings and Century Aluminum Announce Their Intent to form a New Joint Venture, Focusing on the Casting of Low Carbon Secondary Billet

Century Aluminum Selected by U.S. Department of Energy to Receive $500 Million Investment to Build New Green Aluminum Smelter to Accelerate Industrial Decarbonization

Century Aluminum Sets Date for First Quarter 2024 Earnings Announcement

Century Aluminum Company Reports First Quarter 2024 Results

Century Aluminum Company Applauds Biden Administration Decision To Triple Chinese Aluminum Tariffs

Century Applauds Biden Administration for Actions to Address Unfair Trade from Mexico

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Century Aluminum

Century Aluminum (CENX) Forecast

Century Aluminum (NASDAQ:CENX) Stock, Quote.Headers.trade-ideas