BidaskClub Lowers Ferroglobe (GSM) to Buy

BidaskClub downgraded shares of Ferroglobe (NASDAQ:GSM) from a strong-buy rating to a buy rating in a research report released on Wednesday morning.

GSM has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Ferroglobe from a buy rating to a hold rating in a research report on Wednesday, October 18th. Jefferies Group reiterated a buy rating and issued a $16.75 price objective (down previously from $17.00) on shares of Ferroglobe in a research report on Thursday, August 31st. ValuEngine downgraded shares of Ferroglobe from a hold rating to a sell rating in a research report on Friday, December 1st. Stifel Nicolaus reiterated a buy rating on shares of Ferroglobe in a research report on Sunday, September 3rd. Finally, B. Riley reiterated a buy rating and issued a $20.00 price objective (up previously from $16.00) on shares of Ferroglobe in a research report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $19.25.

Ferroglobe (NASDAQ:GSM) opened at $16.73 on Wednesday. Ferroglobe has a 1 year low of $8.54 and a 1 year high of $16.75. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.09 and a current ratio of 1.80.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings data on Monday, November 27th. The basic materials company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. analysts forecast that Ferroglobe will post 0.13 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its position in shares of Ferroglobe by 0.4% during the 2nd quarter. HighTower Advisors LLC now owns 41,492 shares of the basic materials company’s stock worth $498,000 after purchasing an additional 150 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Ferroglobe by 10.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,659 shares of the basic materials company’s stock worth $127,000 after purchasing an additional 1,011 shares during the last quarter. Budros Ruhlin & Roe Inc. raised its position in shares of Ferroglobe by 17.2% during the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 13,603 shares of the basic materials company’s stock worth $163,000 after purchasing an additional 2,000 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Ferroglobe by 30.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 15,912 shares of the basic materials company’s stock worth $209,000 after purchasing an additional 3,725 shares during the last quarter. Finally, Chicago Equity Partners LLC raised its position in shares of Ferroglobe by 2.6% during the 3rd quarter. Chicago Equity Partners LLC now owns 196,555 shares of the basic materials company’s stock worth $2,587,000 after purchasing an additional 4,990 shares during the last quarter. Hedge funds and other institutional investors own 36.61% of the company’s stock.

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About Ferroglobe

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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