Ferroglobe (NASDAQ:GSM) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

A number of other equities analysts have also recently issued reports on the company. B. Riley reiterated a “buy” rating and issued a $16.00 target price on shares of Ferroglobe in a report on Sunday, September 3rd. Stifel Nicolaus reiterated a “buy” rating on shares of Ferroglobe in a report on Sunday, September 3rd. Jefferies Group reiterated a “buy” rating and issued a $16.75 target price (down from $17.00) on shares of Ferroglobe in a report on Thursday, August 31st. Finally, Zacks Investment Research upgraded Ferroglobe from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $19.25.

Ferroglobe (GSM) traded up $0.48 during trading on Wednesday, hitting $16.73. The company’s stock had a trading volume of 1,073,856 shares, compared to its average volume of 489,431. Ferroglobe has a 52-week low of $8.54 and a 52-week high of $16.75. The company has a current ratio of 1.80, a quick ratio of 1.09 and a debt-to-equity ratio of 0.45.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings results on Monday, November 27th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $451.60 million for the quarter, compared to analysts’ expectations of $435.15 million. Ferroglobe had a negative return on equity of 0.75% and a negative net margin of 2.84%. Ferroglobe’s revenue was up 23.8% compared to the same quarter last year. sell-side analysts forecast that Ferroglobe will post 0.13 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of GSM. Hosking Partners LLP raised its position in Ferroglobe by 1.6% in the 2nd quarter. Hosking Partners LLP now owns 450,794 shares of the basic materials company’s stock valued at $5,387,000 after buying an additional 7,283 shares during the last quarter. Comerica Bank purchased a new stake in Ferroglobe in the 2nd quarter valued at $2,899,000. Geode Capital Management LLC raised its position in Ferroglobe by 5.3% in the 1st quarter. Geode Capital Management LLC now owns 149,294 shares of the basic materials company’s stock valued at $1,542,000 after buying an additional 7,523 shares during the last quarter. Chicago Equity Partners LLC purchased a new stake in Ferroglobe in the 2nd quarter valued at $2,289,000. Finally, Goldman Sachs Group Inc. raised its position in Ferroglobe by 335.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 546,437 shares of the basic materials company’s stock valued at $6,530,000 after buying an additional 420,922 shares during the last quarter. Institutional investors own 36.61% 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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