Ferroglobe (GSM) Lowered to Sell at BidaskClub

BidaskClub cut shares of Ferroglobe (NASDAQ:GSM) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

Several other research analysts have also recently weighed in on GSM. Jefferies Group set a $17.00 target price on Ferroglobe and gave the company a buy rating in a research note on Thursday, October 5th. Stifel Nicolaus set a $19.00 target price on Ferroglobe and gave the company a buy rating in a research note on Friday, October 6th. Zacks Investment Research raised Ferroglobe from a hold rating to a buy rating and set a $16.00 target price for the company in a research note on Wednesday, October 11th. B. Riley reaffirmed a buy rating and set a $20.00 target price (up previously from $16.00) on shares of Ferroglobe in a research note on Wednesday, November 22nd. Finally, ValuEngine cut Ferroglobe from a hold rating to a sell rating in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $19.25.

Shares of Ferroglobe (NASDAQ GSM) traded up $0.29 during mid-day trading on Friday, reaching $15.64. The company had a trading volume of 411,017 shares, compared to its average volume of 363,807. Ferroglobe has a fifty-two week low of $8.54 and a fifty-two week high of $17.61. The company has a market capitalization of $2,637.72, a PE ratio of -57.92 and a beta of 1.76. 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 (NASDAQ:GSM) last announced its earnings results on Monday, November 27th. The basic materials company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.02. Ferroglobe had a negative return on equity of 0.75% and a negative net margin of 2.84%. The business had revenue of $451.60 million during the quarter, compared to analysts’ expectations of $435.15 million. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. sell-side analysts expect that Ferroglobe will post 0.13 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. acquired a new position in shares of Ferroglobe in the 4th quarter valued at $733,000. Acadian Asset Management LLC boosted its position in shares of Ferroglobe by 62.0% in the 4th quarter. Acadian Asset Management LLC now owns 395,408 shares of the basic materials company’s stock valued at $6,405,000 after purchasing an additional 151,258 shares during the period. Bank of Montreal Can boosted its position in shares of Ferroglobe by 8.2% in the 4th quarter. Bank of Montreal Can now owns 164,028 shares of the basic materials company’s stock valued at $2,657,000 after purchasing an additional 12,385 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Ferroglobe in the 3rd quarter valued at $526,000. Finally, Caxton Associates LP acquired a new position in shares of Ferroglobe in the 3rd quarter valued at $151,000. Institutional investors and hedge funds 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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