ValuEngine upgraded shares of Ferroglobe (NASDAQ:GSM) from a sell rating to a hold rating in a research note published on Thursday, ValuEngine reports.
A number of other research analysts have also weighed in on GSM. BidaskClub upgraded shares of Ferroglobe from a strong sell rating to a sell rating in a research note on Tuesday, June 11th. Zacks Investment Research lowered shares of Ferroglobe from a hold rating to a strong sell rating in a research report on Friday, June 7th. Finally, B. Riley set a $5.00 price target on shares of Ferroglobe and gave the company a buy rating in a research report on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Ferroglobe has a consensus rating of Hold and a consensus price target of $5.57.
Ferroglobe stock traded down $0.02 during mid-day trading on Thursday, reaching $1.45. The company’s stock had a trading volume of 310,160 shares, compared to its average volume of 293,184. Ferroglobe has a 12-month low of $1.41 and a 12-month high of $8.64. The firm has a market cap of $255.38 million, a P/E ratio of 5.18 and a beta of 2.27. The company has a quick ratio of 0.81, a current ratio of 1.74 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average of $1.63.
Ferroglobe (NASDAQ:GSM) last released its quarterly earnings data on Monday, June 3rd. The basic materials company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Ferroglobe had a net margin of 1.20% and a negative return on equity of 0.37%. The business had revenue of $456.79 million during the quarter, compared to analysts’ expectations of $481.09 million. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The firm’s quarterly revenue was down 18.5% on a year-over-year basis. Equities analysts expect that Ferroglobe will post -0.52 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in GSM. Formula Growth Ltd. purchased a new position in shares of Ferroglobe during the 1st quarter valued at $2,044,000. Royce & Associates LP grew its position in Ferroglobe by 81.8% in the first quarter. Royce & Associates LP now owns 1,568,900 shares of the basic materials company’s stock worth $3,216,000 after acquiring an additional 705,800 shares in the last quarter. Acadian Asset Management LLC grew its position in Ferroglobe by 308.6% in the first quarter. Acadian Asset Management LLC now owns 690,786 shares of the basic materials company’s stock worth $1,414,000 after acquiring an additional 521,718 shares in the last quarter. Norges Bank purchased a new position in Ferroglobe in the fourth quarter worth $746,000. Finally, Dimensional Fund Advisors LP grew its position in Ferroglobe by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,397,692 shares of the basic materials company’s stock worth $6,993,000 after acquiring an additional 199,408 shares in the last quarter. Hedge funds and other institutional investors own 37.59% of the company’s stock.
Ferroglobe PLC engages in the production of silicon metal, silicon-based specialty alloys, and ferroalloys. It operates through the following segments: Electrometallurgy-North America, Electrometallurgy-Europe, Electrometallurgy-South Africa, and Other. The company was founded on February 5, 2015 and is headquartered in London, the United Kingdom.
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