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 (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.
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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