UBS Initiates Coverage on Century Aluminum (NASDAQ:CENX) with a Buy Rating: CENX Outlook

• UBS has started coverage on Century Aluminum (NASDAQ:CENX) with a Buy rating and a price target of $60.00.
• The company's recent operational successes, including bringing its Mt. Holly smelter to full capacity and an early restart at Grundartangi, support the positive outlook for the aluminum producer.
• Future growth is anticipated from a new smelter project in Oklahoma, backed by a $500 million grant, and potential beneficial changes in tariff policies impacting the aluminum industry.

On August 10, 2026, UBS started its coverage on Century Aluminum with a Buy rating. The bank set a price target of $60.00 for the stock. At the time, Century Aluminum was trading at $51.88, which suggests a potential increase of about 15.65% from its current price.

Century Aluminum is a company that produces primary aluminum. It operates smelters, which are industrial plants for producing metals, in the United States and Iceland. The company's performance is closely tied to global aluminum prices and its ability to run its facilities efficiently.

The positive rating from UBS is supported by the company's recent operational successes. As highlighted by Zacks, Century Aluminum brought its Mt. Holly smelter back to full capacity. It also completed the restart of a production line at its Grundartangi facility in Iceland ahead of schedule.

Financially, the company's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by $96 million from the prior quarter to $327 million. This metric helps show a company's operating profitability. For the third quarter, Century Aluminum expects adjusted EBITDA to be between $325 million and $345 million.

Future growth plans also contribute to the positive outlook. The company is moving forward with a new smelter project in Oklahoma, helped by a $500 million grant from the Department of Energy. As detailed by Seeking Alpha, potential changes in tariff policies could also significantly lower costs and increase earnings.