BidaskClub Upgrades Ferroglobe (NASDAQ:GSM) to “Hold”

BidaskClub upgraded shares of Ferroglobe (NASDAQ:GSM) from a sell rating to a hold rating in a research report sent to investors on Tuesday, February 13th.

A number of other research analysts have also commented on the stock. Stifel Nicolaus raised their price objective on shares of Ferroglobe from $19.00 to $22.00 and gave the company a buy rating in a research note on Thursday, October 26th. B. Riley reiterated a buy rating and set a $20.00 price objective (up previously from $16.00) on shares of Ferroglobe in a research note on Wednesday, November 22nd. Zacks Investment Research lowered shares of Ferroglobe from a buy rating to a hold rating in a research report on Wednesday, October 18th. Jefferies Group set a $18.00 price target on shares of Ferroglobe and gave the stock a buy rating in a research report on Tuesday, November 28th. Finally, ValuEngine lowered shares of Ferroglobe from a hold rating to a sell rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Ferroglobe currently has an average rating of Hold and a consensus price target of $19.25.

Shares of Ferroglobe (NASDAQ GSM) opened at $15.55 on Tuesday. Ferroglobe has a 52 week low of $8.54 and a 52 week high of $17.61. The company has a quick ratio of 1.09, a current ratio of 1.80 and a debt-to-equity ratio of 0.45.

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

A number of institutional investors have recently added to or reduced their stakes in GSM. HighTower Advisors LLC increased its holdings 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 period. California Public Employees Retirement System boosted its position in Ferroglobe by 0.9% in the fourth quarter. California Public Employees Retirement System now owns 435,800 shares of the basic materials company’s stock valued at $7,060,000 after buying an additional 3,700 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in Ferroglobe by 30.6% in the third quarter. Oppenheimer & Co. Inc. now owns 15,912 shares of the basic materials company’s stock valued at $209,000 after buying an additional 3,725 shares in the last quarter. Chicago Equity Partners LLC boosted its position in Ferroglobe by 2.6% in the third quarter. Chicago Equity Partners LLC now owns 196,555 shares of the basic materials company’s stock valued at $2,587,000 after buying an additional 4,990 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Ferroglobe by 108.3% during the third quarter. Legal & General Group Plc now owns 10,385 shares of the basic materials company’s stock worth $137,000 after purchasing an additional 5,400 shares in the last quarter. 40.05% of the stock is owned by hedge funds and other institutional investors.

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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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