Ferroglobe PLC (NASDAQ:GSM) shares reached a new 52-week high during trading on Thursday after Stifel Nicolaus raised their price target on the stock from $19.00 to $22.00. Stifel Nicolaus currently has a buy rating on the stock. Ferroglobe PLC traded as high as $15.75 and last traded at $15.72, with a volume of 385,301 shares trading hands. The stock had previously closed at $15.02.
Other research analysts have also issued reports about the stock. BidaskClub upgraded shares of Ferroglobe PLC from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Jefferies Group LLC reiterated a “buy” rating and set a $12.00 price target on shares of Ferroglobe PLC in a research note on Wednesday, July 19th. B. Riley reiterated a “buy” rating and set a $16.00 price target (up from $14.25) on shares of Ferroglobe PLC in a research note on Tuesday, August 29th. Finally, Zacks Investment Research lowered shares of Ferroglobe PLC from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Ferroglobe PLC has an average rating of “Buy” and a consensus target price of $16.20.
Institutional investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. acquired a new position in shares of Ferroglobe PLC during the first quarter worth about $100,000. Budros Ruhlin & Roe Inc. increased its stake in shares of Ferroglobe PLC by 17.2% during the second quarter. Budros Ruhlin & Roe Inc. now owns 13,603 shares of the basic materials company’s stock worth $163,000 after acquiring an additional 2,000 shares during the period. American International Group Inc. increased its stake in shares of Ferroglobe PLC by 7.1% during the first quarter. American International Group Inc. now owns 40,274 shares of the basic materials company’s stock worth $416,000 after acquiring an additional 2,664 shares during the period. Balter Liquid Alternatives LLC acquired a new position in shares of Ferroglobe PLC during the second quarter worth about $437,000. Finally, HighTower Advisors LLC increased its stake in shares of Ferroglobe PLC by 0.4% during the second quarter. HighTower Advisors LLC now owns 41,492 shares of the basic materials company’s stock worth $498,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 38.30% of the company’s stock.
The stock has a 50-day moving average price of $13.80 and a 200 day moving average price of $11.97. The stock’s market cap is $2.72 billion.
COPYRIGHT VIOLATION WARNING: “Ferroglobe PLC (GSM) Sets New 52-Week High Following Analyst Upgrade” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://www.dispatchtribunal.com/2017/10/27/ferroglobe-plc-gsm-sets-new-52-week-high-following-analyst-upgrade.html.
About Ferroglobe PLC
Ferroglobe PLC, formerly VeloNewco Limited, is engaged in silicon and specialty metals industry. The Company produces silicon metal and silicon- and manganese-based alloy, which serves customers in the chemical, aluminum, solar, steel and ductile iron foundry industries. It operates through two segments: Electrometallurgy and Energy.
Receive News & Ratings for Ferroglobe PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferroglobe PLC and related companies with MarketBeat.com's FREE daily email newsletter.