Ferroglobe (GSM) Rating Lowered to Sell at BidaskClub

Ferroglobe (NASDAQ:GSM) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday.

Several other equities research analysts have also recently weighed in on GSM. Jefferies Group set a $18.00 price objective on Ferroglobe and gave the stock a “buy” rating in a report on Tuesday, November 28th. Zacks Investment Research cut Ferroglobe from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. B. Riley reiterated a “buy” rating and issued a $20.00 price objective (up previously from $16.00) on shares of Ferroglobe in a report on Wednesday, November 22nd. ValuEngine cut Ferroglobe from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, Stifel Nicolaus set a $23.00 price objective on Ferroglobe and gave the stock a “buy” rating in a report on Thursday, November 30th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company presently has an average 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 52 week low of $8.54 and a 52 week high of $17.61. 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 issued its earnings results on Monday, November 27th. The basic materials company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The company had revenue of $451.60 million during 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%. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. equities research analysts expect that Ferroglobe will post 0.13 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GSM. Oppenheimer Asset Management Inc. lifted its holdings in Ferroglobe by 10.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,659 shares of the basic materials company’s stock worth $127,000 after buying an additional 1,011 shares during the period. JPMorgan Chase & Co. raised its position in shares of Ferroglobe by 134.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 210,974 shares of the basic materials company’s stock worth $2,521,000 after acquiring an additional 120,877 shares in the last quarter. Thrivent Financial For Lutherans bought a new position in shares of Ferroglobe in the 2nd quarter worth approximately $2,143,000. GSA Capital Partners LLP raised its position in shares of Ferroglobe by 921.1% in the 2nd quarter. GSA Capital Partners LLP now owns 118,726 shares of the basic materials company’s stock worth $1,419,000 after acquiring an additional 107,099 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Ferroglobe by 2.2% in the 2nd quarter. California Public Employees Retirement System now owns 432,100 shares of the basic materials company’s stock worth $5,164,000 after acquiring an additional 9,400 shares in the last quarter. Institutional investors and hedge funds own 36.50% 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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