Ferroglobe (NASDAQ:GSM) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Ferroglobe (NASDAQ:GSM) from a hold rating to a buy rating in a research report released on Friday morning, ValuEngine reports.

Other research analysts have also issued reports about the company. B. Riley set a $5.00 target price on Ferroglobe and gave the stock a buy rating in a research report on Wednesday, June 5th. Zacks Investment Research lowered Ferroglobe from a hold rating to a sell rating in a research report on Monday, September 9th. BidaskClub raised Ferroglobe from a strong sell rating to a sell rating in a research report on Tuesday, June 11th. Finally, Stifel Nicolaus lowered Ferroglobe from a buy rating to a hold rating in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $5.57.

GSM stock opened at $1.25 on Friday. Ferroglobe has a 52-week low of $1.11 and a 52-week high of $8.52. The stock’s fifty day simple moving average is $1.28 and its 200-day simple moving average is $1.75. The company has a quick ratio of 0.68, a current ratio of 1.38 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $211.40 million, a price-to-earnings ratio of 4.46 and a beta of 2.27.



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

Large investors have recently added to or reduced their stakes in the business. Royce & Associates LP raised 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 valued at $3,216,000 after purchasing an additional 705,800 shares during the period. Acadian Asset Management LLC raised its position in Ferroglobe by 49.0% in the second quarter. Acadian Asset Management LLC now owns 1,029,301 shares of the basic materials company’s stock valued at $1,749,000 after purchasing an additional 338,515 shares during the period. Ardsley Advisory Partners LP raised its position in Ferroglobe by 150.0% in the second quarter. Ardsley Advisory Partners LP now owns 200,000 shares of the basic materials company’s stock valued at $340,000 after purchasing an additional 120,000 shares during the period. Adirondack Research & Management Inc. raised its position in Ferroglobe by 13.8% in the first quarter. Adirondack Research & Management Inc. now owns 578,771 shares of the basic materials company’s stock valued at $1,186,000 after purchasing an additional 70,400 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Ferroglobe by 89.3% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 242,071 shares of the basic materials company’s stock valued at $496,000 after purchasing an additional 114,179 shares during the period. 34.59% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Ferroglobe (NASDAQ:GSM)

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