B. Riley Reaffirms Buy Rating for Ferroglobe (GSM)

Ferroglobe (NASDAQ:GSM)‘s stock had its “buy” rating reissued by equities research analysts at B. Riley in a research note issued on Wednesday, November 22nd, Marketbeat reports. They presently have a $20.00 target price on the basic materials company’s stock, up from their previous target price of $16.00. B. Riley’s price objective would suggest a potential upside of 23.08% from the company’s current price. B. Riley also issued estimates for Ferroglobe’s Q4 2017 earnings at $0.06 EPS, FY2017 earnings at $0.10 EPS, Q1 2018 earnings at $0.22 EPS, Q2 2018 earnings at $0.22 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.27 EPS and FY2018 earnings at $0.98 EPS.

Other research analysts also recently issued reports about the stock. Jefferies Group reiterated a “positive” rating and set a $17.00 price objective (up from $12.00) on shares of Ferroglobe in a research note on Friday, August 18th. Stifel Nicolaus set a $19.00 price objective on shares of Ferroglobe and gave the company a “buy” rating in a research note on Friday, October 6th. BidaskClub upgraded shares of Ferroglobe from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 19th. Finally, Zacks Investment Research raised shares of Ferroglobe from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $19.25.

Ferroglobe (NASDAQ GSM) opened at $16.25 on Wednesday. The company has a current ratio of 1.80, a quick ratio of 1.09 and a debt-to-equity ratio of 0.45. Ferroglobe has a 52 week low of $8.54 and a 52 week high of $16.50.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Monday, November 27th. The basic materials company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The business had revenue of $451.60 million during the quarter, compared to the consensus estimate of $435.15 million. Ferroglobe had a negative net margin of 2.84% and a negative return on equity of 0.75%. Ferroglobe’s revenue for the quarter was up 23.8% compared to the same quarter last year. sell-side analysts forecast that Ferroglobe will post 0.13 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Hosking Partners LLP increased its holdings in shares of Ferroglobe by 1.6% in the 2nd quarter. Hosking Partners LLP now owns 450,794 shares of the basic materials company’s stock worth $5,387,000 after acquiring an additional 7,283 shares during the period. Comerica Bank acquired a new stake in shares of Ferroglobe in the 2nd quarter worth about $2,899,000. Geode Capital Management LLC increased its holdings in shares of Ferroglobe by 5.3% in the 1st quarter. Geode Capital Management LLC now owns 149,294 shares of the basic materials company’s stock worth $1,542,000 after acquiring an additional 7,523 shares during the period. Chicago Equity Partners LLC acquired a new stake in shares of Ferroglobe in the 2nd quarter worth about $2,289,000. Finally, BlueCrest Capital Management Ltd increased its holdings in shares of Ferroglobe by 356.3% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 54,334 shares of the basic materials company’s stock worth $649,000 after acquiring an additional 42,427 shares during the period. 36.61% of the stock is currently owned by institutional investors and hedge funds.

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Ferroglobe Company Profile

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.

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