Analysts Set Ferroglobe PLC (NASDAQ:GSM) Price Target at $6.00

Ferroglobe PLC (NASDAQ:GSM) has received a consensus recommendation of “Reduce” from the four brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $6.00.

GSM has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ferroglobe in a research report on Wednesday, October 8th. Zacks Research downgraded Ferroglobe from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 12th. B. Riley reduced their target price on Ferroglobe from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Finally, Wall Street Zen downgraded shares of Ferroglobe from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th.

Ferroglobe Stock Down 1.1%

NASDAQ:GSM opened at $4.59 on Wednesday. Ferroglobe has a one year low of $2.97 and a one year high of $5.74. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.66 and a quick ratio of 0.91. The company has a market cap of $856.61 million, a PE ratio of -6.20 and a beta of 1.08. The firm’s 50 day simple moving average is $4.44 and its 200 day simple moving average is $4.41.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). The business had revenue of $311.70 million for the quarter, compared to the consensus estimate of $393.80 million. Ferroglobe had a negative net margin of 9.92% and a negative return on equity of 6.13%. On average, research analysts anticipate that Ferroglobe will post 0.33 earnings per share for the current year.

Ferroglobe Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 22nd were paid a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, December 22nd. Ferroglobe’s dividend payout ratio (DPR) is currently -6.76%.

Institutional Trading of Ferroglobe

A number of large investors have recently bought and sold shares of GSM. FNY Investment Advisers LLC bought a new position in shares of Ferroglobe in the 3rd quarter worth about $373,000. CIBC Bancorp USA Inc. bought a new stake in Ferroglobe in the third quarter worth approximately $58,000. Coldstream Capital Management Inc. acquired a new position in Ferroglobe in the third quarter valued at approximately $52,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Ferroglobe during the 3rd quarter worth approximately $3,231,000. Finally, Verition Fund Management LLC grew its position in shares of Ferroglobe by 50.3% during the 3rd quarter. Verition Fund Management LLC now owns 176,466 shares of the basic materials company’s stock worth $803,000 after buying an additional 59,045 shares during the period. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Ferroglobe Company Profile

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.