NEW YORK (TheStreet) -- Shares of Century Aluminum(CENX) - Get Report were gaining 12.7% to $14.43 on heavy trading volume Friday after the aluminum producer beat analysts' estimates for earnings in the first quarter.
Century Aluminum reported earnings of 76 cents a share for the first quarter, above analysts' estimates of 63 cents a share. Revenue grew 39.7% year over year to $587.9 million for the quarter, compared to analysts' estimates of $579.93 million.
"We are pleased with the company's performance during the quarter," President and CEO Michael Bliss said in a statement. "Safety results were generally good. Management at Hawesville have done a very good job returning the plant to stability after the power modulations we endured last year."
About 4.7 million shares of Century Aluminum were traded by 12:33 p.m. Friday, above the company's average trading volume of about 2.2 million shares a day.
TheStreet Ratings team rates CENTURY ALUMINUM CO as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CENTURY ALUMINUM CO (CENX) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."
You can view the full analysis from the report here: CENX Ratings Report