Alcoa and Century Aluminum Fall Amid J.P. Morgan Downgrades

Shares of Alcoa Inc (NYSE: AA) and Century Aluminum Co (NASDAQ: CENX) fell Monday amid downgrades from J.P. Morgan.

Analyst Michael F. Gambardella made the downgrades due to “deteriorating aluminum fundamentals.”

Alcoa was downgraded from Overweight to Neutral and its price target was cut from $20.00 to $18.50 over concerns that the U.S. may soon see premiums decline as they have in Europe.

Alcoa Inc recently traded at $15.58, down 5.97 percent

Century Aluminum was also impacted by the same challenges as Alcoa. The stock was downgraded from Neutral to Underweight and the price target was cut from $20.00 to $17.50.

Century Aluminum Co. recently traded at $23.22, down 8.11 percent.

Constellium NV (NYSE: CSTM) also fell amid the news and recently traded at $18.65, down 3.07 percent.

Shares of Kaiser Aluminum Corp. (NASDAQ: KALU) traded higher Monday morning but fell by mid-day and recently traded at $72.13, down 0.37 percent.