Why Century Aluminum Co. (CENX) Went Up On Tuesday

We recently published a list of These 10 Companies Led Tuesday’s Charge. In this article, we are going to take a look at where Century Aluminum Co. (NASDAQ:CENX) stands against other companies that led Tuesday’s charge.

Wall Street’s main indices finished mixed on Tuesday, with the Nasdaq as the sole loser, as investors largely brushed off President Donald Trump’s tariff threats in hopes that countries would eventually reach a negotiated settlement.

Additionally, investors cheered signals from the Federal Reserve that a rate interest cut was not imminent, saying it would wait as necessary before implementing any rate adjustments.

The Dow Jones eked out a 0.28 percent gain, while the S&P 500 inched up 0.03 percent. The tech-heavy Nasdaq dropped 0.36 percent.

Ten companies on Tuesday led the charge amid a flurry of positive news sparking buying appetite. This article detailed the reasons behind their performance.

To come up with Tuesday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A warehouse of aluminum ingots, neatly lined up ready to be shipped.

Century Aluminum Co. (NASDAQ:CENX)

Century Aluminum rose for a second day on Tuesday, adding 5.63 percent to finish at $21.76 apiece as funds flocked into the company’s shares following President Donald Trump’s slapping of 25 percent tariffs on all steel and aluminum imports.

CENX lauded the new taxes, saying it supports Trump’s decisive action to strengthen tariffs and fight back against unfair trade practices that have allegedly disadvantaged the US primary aluminum industry for years.

“We strongly support today’s Executive Order…President Trump’s decisive action will protect national security and help level the playing field for America’s aluminum workers,” CENX CEO Jesse Gary said in a statement.

He added that the move will help drive the resurgence of domestic aluminum production.

CENX is one the largest domestic producers of primary aluminum in the US.

Overall, CENX ranks 8th on our list of companies that led Tuesday’s charge. While we acknowledge the potential of CENX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as CENX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.