Ferroglobe (NASDAQ:GSM) has been given a $4.00 target price by research analysts at B. Riley in a note issued to investors on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. B. Riley’s price target would indicate a potential upside of 119.78% from the stock’s previous close.
Several other brokerages also recently commented on GSM. Zacks Investment Research raised Ferroglobe from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th. ValuEngine raised Ferroglobe from a “strong sell” rating to a “sell” rating in a research report on Monday, February 4th. Jefferies Financial Group downgraded Ferroglobe from a “buy” rating to a “hold” rating and set a $2.70 price objective on the stock. in a research report on Thursday, February 14th. Finally, BidaskClub raised Ferroglobe from a “sell” rating to a “hold” rating in a research report on Thursday, February 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Ferroglobe has a consensus rating of “Hold” and a consensus price target of $8.74.
Shares of NASDAQ GSM traded up $0.02 during trading hours on Friday, hitting $1.82. 719,800 shares of the company traded hands, compared to its average volume of 899,861. The company has a market cap of $311.18 million, a P/E ratio of 6.50 and a beta of 2.12. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 1.77. Ferroglobe has a 12 month low of $1.47 and a 12 month high of $13.00.
Ferroglobe (NASDAQ:GSM) last released its earnings results on Monday, February 25th. The basic materials company reported ($0.05) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). The firm had revenue of $603.50 million for the quarter, compared to the consensus estimate of $486.22 million. Ferroglobe had a return on equity of 5.67% and a net margin of 3.94%. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS. As a group, equities analysts predict that Ferroglobe will post -0.22 EPS for the current year.
Several hedge funds have recently modified their holdings of the business. BlueMountain Capital Management LLC purchased a new stake in shares of Ferroglobe in the 1st quarter worth $225,000. Morgan Stanley lifted its holdings in shares of Ferroglobe by 339.7% in the 1st quarter. Morgan Stanley now owns 470,347 shares of the basic materials company’s stock worth $964,000 after buying an additional 363,368 shares during the period. Formula Growth Ltd. purchased a new stake in shares of Ferroglobe in the 1st quarter worth $2,044,000. OppenheimerFunds Inc. lifted its holdings in shares of Ferroglobe by 1.6% in the 1st quarter. OppenheimerFunds Inc. now owns 1,270,000 shares of the basic materials company’s stock worth $2,604,000 after buying an additional 20,000 shares during the period. Finally, State of Tennessee Treasury Department purchased a new stake in shares of Ferroglobe in the 1st quarter worth $31,000. Institutional investors and hedge funds own 39.23% of the company’s stock.
Ferroglobe Company Profile
Ferroglobe PLC engages in the production of silicon metal, silicon-based specialty alloys, and ferroalloys. It operates through the following segments: Electrometallurgy-North America, Electrometallurgy-Europe, Electrometallurgy-South Africa, and Other. The company was founded on February 5, 2015 and is headquartered in London, the United Kingdom.
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