ValuEngine Downgrades Ferroglobe (GSM) to Sell

Ferroglobe (NASDAQ:GSM) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Friday.

GSM has been the topic of several other research reports. Zacks Investment Research raised shares of Ferroglobe from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Wednesday, October 11th. Stifel Nicolaus raised their price target on shares of Ferroglobe from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Jefferies Group reissued a “positive” rating and issued a $17.00 price target (up previously from $12.00) on shares of Ferroglobe in a report on Friday, August 18th. B. Riley reaffirmed a “buy” rating and issued a $16.00 target price (up from $14.25) on shares of Ferroglobe in a research report on Tuesday, August 29th. Finally, BidaskClub cut shares of Ferroglobe from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $19.25.

Ferroglobe (NASDAQ GSM) traded down $0.25 during trading on Friday, hitting $16.07. 510,409 shares of the stock were exchanged, compared to its average volume of 546,474. Ferroglobe has a 1 year low of $8.54 and a 1 year high of $16.50. The company has a quick ratio of 1.42, a current ratio of 1.80 and a debt-to-equity ratio of 0.45.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Monday, November 27th. The basic materials company reported $0.05 earnings per share 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 firm had revenue of $451.60 million during the quarter, compared to the consensus estimate of $435.15 million. Ferroglobe’s quarterly revenue was up 23.8% compared to the same quarter last year. equities analysts expect that Ferroglobe will post 0.13 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in GSM. HighTower Advisors LLC grew its position in Ferroglobe by 0.4% during the second quarter. HighTower Advisors LLC now owns 41,492 shares of the basic materials company’s stock valued at $498,000 after buying an additional 150 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Ferroglobe by 10.5% in the second 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 during the period. Budros Ruhlin & Roe Inc. boosted its position in shares of Ferroglobe by 17.2% in the second 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 during the period. Oppenheimer & Co. Inc. boosted its position in shares of Ferroglobe by 30.6% in the third 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 during the period. Finally, Chicago Equity Partners LLC boosted its position in shares of Ferroglobe by 2.6% in the third 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 during the period. Hedge funds and other institutional investors own 36.62% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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