Ferroglobe (NASDAQ:GSM) Upgraded 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 Wednesday, ValuEngine reports.

Separately, Zacks Investment Research lowered shares of Ferroglobe from a buy rating to a hold rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $2.82.

GSM stock traded down $0.15 during mid-day trading on Wednesday, reaching $1.00. The company had a trading volume of 24,206 shares, compared to its average volume of 408,044. The stock’s 50-day simple moving average is $0.86 and its two-hundred day simple moving average is $1.08. The stock has a market capitalization of $186.04 million, a P/E ratio of 3.57 and a beta of 2.32. The company has a quick ratio of 0.96, a current ratio of 1.76 and a debt-to-equity ratio of 0.74. Ferroglobe has a one year low of $0.51 and a one year high of $3.01.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings data on Monday, December 2nd. The basic materials company reported ($0.10) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.08. The business had revenue of $381.75 million for the quarter, compared to analysts’ expectations of $397.30 million. Ferroglobe had a negative net margin of 11.96% and a negative return on equity of 8.27%. On average, research analysts forecast that Ferroglobe will post -0.61 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in GSM. Russell Investments Group Ltd. grew its holdings in Ferroglobe by 25.0% during the second quarter. Russell Investments Group Ltd. now owns 38,418 shares of the basic materials company’s stock worth $65,000 after acquiring an additional 7,676 shares during the period. Parametric Portfolio Associates LLC grew its stake in shares of 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 purchasing an additional 8,033 shares during the last quarter. Wells Fargo & Company MN grew 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 worth $165,000 after purchasing an additional 11,947 shares during the last quarter. United Services Automobile Association grew its stake in shares of Ferroglobe by 3.7% in the 2nd quarter. United Services Automobile Association now owns 550,965 shares of the basic materials company’s stock worth $937,000 after purchasing an additional 19,574 shares during the last quarter. Finally, Citadel Advisors LLC raised its holdings 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 worth $123,000 after purchasing an additional 137,735 shares in the last quarter. Institutional investors own 30.88% of the company’s stock.

Ferroglobe Company Profile

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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