Glencore purchased 13,454,538 shares of Century Aluminum Company in Q4 for an estimated $420.38 million. The quarter-end position value increased by $920.51 million, making Glencore’s total holding 53,511,894 CENX shares valued at $2.10 billion, representing 48.39% of fund assets. Century Aluminum shares rose 133.7% to $47.75 per share.

Glencore disclosed a substantial purchase of Century Aluminum Company shares, totaling $420.38 million in transaction value. The quarter-end position value surged by $920.51 million, with Glencore now holding 53,511,894 CENX shares worth $2.10 billion, equivalent to 48.39% of fund assets. Century Aluminum’s stock price rose to $47.75 per share, up 133.7% in a year.

Century Aluminum is a major producer of primary aluminum with operations in the US, Iceland, and the Netherlands. Generating revenue primarily from selling aluminum products, the company reported $632.2 million in revenue and $14.9 million in net income in their latest quarterly release. Adjusted EBITDA was $101.1 million with guidance for $170-$180 million in Q4.

Glencore’s concentrated position in Century Aluminum, accounting for 48.39% of fund assets, reflects a significant bet on the aluminum market. Century Aluminum’s strong financial performance, with revenue of $632.2 million and net income of $14.9 million in the latest quarter, supports Glencore’s strategy. The company’s focus on operational efficiency and product quality is key to maintaining a competitive edge.

Read more at Yahoo Finance: This $420 Million Bet Concentrates Assets in a Stock Up 134% in One Year