Aluminum Shares Mostly Rise Despite Downgrade for Century, Which Slipped After Bullish Week

Shares of Century Aluminum Co. traded down as much as 1.5 percent Friday after an analyst downgraded the stock, but rebounded to end the week high, along with other aluminum stocks.

BMO Capital Markets analyst Victor Lazarovici cut Century's rating from "Outperform" to "Market Perform" and reduced his target price by $2 to $55, after the company announced a public offering of 7.25 million shares. Lazarovici lowered his earnings estimates as a result of the offering.

"However, we continue to believe aluminum's fundamentals remain solid and prices are rising, underpinning higher earnings and cash flow for producers," he wrote in a note to investors.

Shares of Century Aluminum, ended up 7 cents, at $54.50.

Aluminum Corp. of China Ltd. was the biggest percentage gainer Friday, rising $3.76, or 9.7 percent, to $42.51, after hitting an annual high of $42.64 during the session. The stock had previously traded between $15.52 and $39.63 over the past year.

Here's how some other aluminum stocks did Friday:

Superior Essex Inc., gained 66 cents, to $36.27.

Tredegar Corp. rose 71 cents, or 3.3 percent, to $22.19.

Alcoa Inc. gained 44 cents to $41.60, just off a new year high of $41.69 hit during the session, surpassing the previous high of $41.55.

Alcan Inc. rose 32 cents to $82.85.