Ferroglobe (GSM) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of Ferroglobe (NASDAQ:GSM) from a hold rating to a buy rating in a research note published on Friday, December 22nd.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Ferroglobe from a buy rating to a hold rating in a report on Wednesday, September 6th. B. Riley restated a buy rating and set a $16.00 price target on shares of Ferroglobe in a research note on Sunday, September 3rd. Jefferies Group set a $18.00 price target on shares of Ferroglobe and gave the company a buy rating in a research note on Tuesday, November 28th. Stifel Nicolaus set a $23.00 target price on shares of Ferroglobe and gave the stock a buy rating in a report on Thursday, November 30th. Finally, ValuEngine lowered shares of Ferroglobe from a hold rating to a sell rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $19.25.

Shares of Ferroglobe (NASDAQ:GSM) traded down $0.10 during trading on Friday, reaching $16.52. 372,900 shares of the company’s stock were exchanged, compared to its average volume of 395,317. The firm has a market capitalization of $2,840.00, a price-to-earnings ratio of -11.55 and a beta of 1.75. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.80 and a quick ratio of 1.09. Ferroglobe has a 1 year low of $8.54 and a 1 year high of $17.61.

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

Several institutional investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. increased its stake in Ferroglobe by 10.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,659 shares of the basic materials company’s stock valued at $127,000 after purchasing an additional 1,011 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Ferroglobe by 108.3% in the third quarter. Legal & General Group Plc now owns 10,385 shares of the basic materials company’s stock worth $137,000 after acquiring an additional 5,400 shares during the period. Invictus RG purchased a new position in shares of Ferroglobe in the third quarter worth approximately $146,000. Caxton Associates LP purchased a new position in shares of Ferroglobe in the third quarter worth approximately $151,000. Finally, Budros Ruhlin & Roe Inc. boosted its holdings in shares of Ferroglobe by 17.2% in the second quarter. Budros Ruhlin & Roe Inc. now owns 13,603 shares of the basic materials company’s stock worth $163,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 36.50% of the company’s stock.

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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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