5 Industrial Stocks Under $10 That Are Poised To Explode

2. Century Aluminum Co (NASDAQ:CENX)

Investors with Long Positions (as of June 30): 24

Aggregate Value of Investors’ Holdings (as of June 30): $93.58 Million

There was one more hedge fund that owned Century Aluminum Co (NASDAQ:CENX) at the end of the June quarter compared to the prior one. At the same time, the value of hedge funds’ stakes in the stock grew by $22.27 million. Just recently, Century Aluminum of Kentucky, a subsidiary of Century Aluminum, announced the curtailment of one potline at its Kentucky aluminum smelter. Century Aluminum previously announced its plans to curtail its plant operations on October 24, 2015 should the current pricing environment remain unchanged. Sinking aluminum prices and an increasing oversupply of the metal have worsened the industry’s crisis, but this environment will most likely come to an end sooner or later. Given that the shares of Century Aluminum have slipped by more than 76% year-to-date, the stock’s downside is significantly lower than its upside potential. Robert Bishop of Impala Asset Management believes in Century Aluminum Co (NASDAQ:CENX)’s turnaround, having added a 1.88 million share-position in the stock to his portfolio in the second quarter.