I sold out of CENX (5th largest position).
UPDATE: I sold out of MGM, EK and some of TTWO and BBRG
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Century Aluminum (NASDAQ:CENX) Gets “Sell” Rating from Goldman (NYSE:GS)
Goldman Sachs (NYSE:GS) has begun coverage on Century Aluminum (NASDAQ:CENX), and started the company off with a “Sell” rating and a price target of $14.
Cited for 2011 is the weak fundamentals related to aluminum supply and demand, along with the heavy leverage Century has to aluminum.
Also noted was the loss of the power contract refund which was one-time event for the company; which they won’t have in 2011.
It appears those heavily exposed to aluminum will be range bound for some time, and there are few if any catalysts that can be seen to change that assessment at this time.
Century Aluminum closed Friday at $16.11, down $0.02, or 0.12 percent.
http://everythinggold.blogspot.com/2010/12/century-aluminum-nasdaqcenx-gets-sell.html
Ahem, FIRST!
… ” there are few if any catalysts that can be seen to change that assessment at this time.”
Except China shutting down production to save on energy with the intent to import the metal from others.
I’ll be a happy buyer if we see 14 ….
PM’s making a final rally into the EOY.
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