Ferroglobe (GSM) Given a $23.00 Price Target by Stifel Nicolaus Analysts

Ferroglobe (NASDAQ:GSM) received a $23.00 price objective from investment analysts at Stifel Nicolaus in a report released on Thursday. The brokerage presently has a “buy” rating on the basic materials company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 40.93% from the company’s previous close.

A number of other research analysts have also commented on the stock. B. Riley reiterated a “buy” rating and set a $20.00 price objective (up previously from $16.00) on shares of Ferroglobe in a research note on Wednesday. Jefferies Group set a $18.00 price objective on shares of Ferroglobe and gave the company a “buy” rating in a research note on Tuesday. BidaskClub upgraded shares of Ferroglobe from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 20th. Finally, Zacks Investment Research lowered shares of Ferroglobe from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $19.25.

Ferroglobe (GSM) traded up $0.37 during midday trading on Thursday, hitting $16.32. 448,900 shares of the company were exchanged, compared to its average volume of 789,578. Ferroglobe has a fifty-two week low of $8.54 and a fifty-two week high of $16.50. The company has a current ratio of 1.80, a quick ratio of 1.42 and a debt-to-equity ratio of 0.45.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Monday, November 27th. The basic materials company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. Ferroglobe had a negative net margin of 2.84% and a negative return on equity of 0.75%. The business had revenue of $451.60 million for the quarter, compared to analyst estimates of $435.15 million. The company’s quarterly revenue was up 23.8% compared to the same quarter last year. sell-side analysts predict that Ferroglobe will post 0.1 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC grew its position in Ferroglobe by 0.4% during the 2nd quarter. HighTower Advisors LLC now owns 41,492 shares of the basic materials company’s stock worth $498,000 after purchasing an additional 150 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Ferroglobe by 10.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,659 shares of the basic materials company’s stock worth $127,000 after purchasing an additional 1,011 shares in the last quarter. Budros Ruhlin & Roe Inc. grew its position in Ferroglobe by 17.2% during the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 13,603 shares of the basic materials company’s stock worth $163,000 after purchasing an additional 2,000 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Ferroglobe by 30.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 15,912 shares of the basic materials company’s stock worth $209,000 after purchasing an additional 3,725 shares in the last quarter. Finally, Chicago Equity Partners LLC grew its position in Ferroglobe by 2.6% during the 3rd quarter. Chicago Equity Partners LLC now owns 196,555 shares of the basic materials company’s stock worth $2,587,000 after purchasing an additional 4,990 shares in the last quarter. Hedge funds and other institutional investors own 36.62% of the company’s stock.

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About Ferroglobe

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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