Ferroglobe PLC (GSM) Given Consensus Rating of “Hold” by Brokerages

Shares of Ferroglobe PLC (NASDAQ:GSM) have been assigned an average rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $20.33.

Several brokerages recently issued reports on GSM. Zacks Investment Research downgraded shares of Ferroglobe from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. BidaskClub raised shares of Ferroglobe from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine lowered shares of Ferroglobe from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Stifel Nicolaus set a $23.00 price target on shares of Ferroglobe and gave the stock a “buy” rating in a research report on Thursday, November 30th. Finally, B. Riley reaffirmed a “buy” rating and set a $20.00 price target (up previously from $16.00) on shares of Ferroglobe in a research report on Wednesday, November 29th.

A number of hedge funds have recently modified their holdings of GSM. Legal & General Group Plc increased its position in Ferroglobe by 108.3% during the third quarter. Legal & General Group Plc now owns 10,385 shares of the basic materials company’s stock worth $137,000 after purchasing an additional 5,400 shares during the last quarter. Invictus RG acquired a new position in Ferroglobe during the third quarter worth approximately $146,000. Caxton Associates LP acquired a new position in Ferroglobe during the third quarter worth approximately $151,000. Quantbot Technologies LP increased its position in Ferroglobe by 77.1% during the third quarter. Quantbot Technologies LP now owns 15,913 shares of the basic materials company’s stock worth $209,000 after purchasing an additional 6,926 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in Ferroglobe by 30.6% during 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 last quarter. 39.42% of the stock is owned by hedge funds and other institutional investors.

Ferroglobe (GSM) opened at $15.52 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.09 and a current ratio of 1.80. The stock has a market cap of $2,577.57, a P/E ratio of -57.48 and a beta of 1.54. Ferroglobe has a one year low of $8.54 and a one year high of $17.61.

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

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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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