Ferroglobe (NASDAQ:GSM) Downgraded to “Hold” at Stifel Nicolaus

Stifel Nicolaus lowered shares of Ferroglobe (NASDAQ:GSM) from a buy rating to a hold rating in a report released on Monday, The Fly reports.

A number of other equities analysts have also recently commented on the stock. BidaskClub raised shares of Ferroglobe from a strong sell rating to a sell rating in a research note on Tuesday, June 11th. ValuEngine raised shares of Ferroglobe from a sell rating to a hold rating in a research note on Thursday, August 1st. B. Riley set a $5.00 price target on shares of Ferroglobe and gave the stock a buy rating in a research note on Wednesday, June 5th. Finally, Zacks Investment Research cut shares of Ferroglobe from a hold rating to a sell rating in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $5.57.

Shares of NASDAQ:GSM opened at $1.28 on Monday. The company has a 50 day moving average of $1.30 and a 200 day moving average of $1.78. The stock has a market cap of $213.09 million, a P/E ratio of 4.57 and a beta of 2.27. Ferroglobe has a 12 month low of $1.11 and a 12 month high of $8.59. The company has a current ratio of 1.38, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44.



Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings data on Tuesday, September 3rd. The basic materials company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $409.47 million for the quarter, compared to analysts’ expectations of $446.01 million. Ferroglobe had a negative net margin of 4.12% and a negative return on equity of 5.69%. Ferroglobe’s revenue was down 29.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 EPS. On average, equities analysts forecast that Ferroglobe will post -0.59 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC grew its stake in Ferroglobe by 69.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 19,561 shares of the basic materials company’s stock worth $33,000 after buying an additional 8,033 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Ferroglobe by 25.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 38,418 shares of the basic materials company’s stock valued at $65,000 after purchasing an additional 7,676 shares in the last quarter. Miracle Mile Advisors LLC purchased a new stake in shares of Ferroglobe in the 1st quarter valued at $126,000. Citadel Advisors LLC boosted its stake in shares of Ferroglobe by 211.6% in the 2nd quarter. Citadel Advisors LLC now owns 72,635 shares of the basic materials company’s stock valued at $123,000 after purchasing an additional 137,735 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Ferroglobe by 14.0% in the 2nd quarter. Wells Fargo & Company MN now owns 97,018 shares of the basic materials company’s stock valued at $165,000 after purchasing an additional 11,947 shares in the last quarter. 34.59% of the stock is owned by institutional investors and hedge funds.

About Ferroglobe

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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