NEW YORK (TheStreet) -- Shares of Century Aluminum (CENX) - Get Report were falling 17.5% to $3.54 with heavy trading volume on Friday after the aluminum producer missed analysts' estimates for earnings in the third quarter.

Century Aluminum reported a loss of 48 cents a share for the third quarter, missing analysts' estimates of a loss of 27 cents a share for the quarter. Revenue fell 9.2% year over year to $454.5 million for the quarter, but above analysts' estimates of $443.64 million.

Shipments of primary aluminum grew to 231,040 tonnes in the third quarter, compared to 218,214 tonnes in the year-ago quarter.

"Sentiment toward a broad range of commodities, brought about by a number of factors, has deteriorated markedly during the last few months," President and CEO Michael Bless said in a statement.

Bless continued, "The issues in the primary aluminum sector are straightforward. Demand in most developed markets remains reasonably good. There is a supply deficit in the world excluding China and, given a lack of new capacity projects at any stage of gestation, this western world supply deficit is likely to persist for the foreseeable future."

About 8.2 million shares of Century Aluminum were traded by 12:36 p.m. Friday, above the company's average trading volume of about 3.3 million shares a day.

TheStreet Ratings team rates CENTURY ALUMINUM CO as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

We rate CENTURY ALUMINUM CO (CENX) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, poor profit margins and weak operating cash flow.

You can view the full analysis from the report here: CENX

CENX data by YCharts

Image placeholder title