Ferroglobe PLC (NASDAQ:GSM) Given Consensus Recommendation of “Reduce” by Analysts

Ferroglobe PLC (NASDAQ:GSM) has earned an average rating of “Reduce” from the four analysts that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $6.00.

Several brokerages have recently issued reports on GSM. B. Riley reduced their price objective on Ferroglobe from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a report on Wednesday, October 8th. Zacks Research downgraded shares of Ferroglobe from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 12th. Finally, Wall Street Zen lowered shares of Ferroglobe from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th.

Institutional Investors Weigh In On Ferroglobe

A number of hedge funds and other institutional investors have recently made changes to their positions in GSM. Hosking Partners LLP grew its holdings in Ferroglobe by 0.9% in the 3rd quarter. Hosking Partners LLP now owns 10,874,422 shares of the basic materials company’s stock valued at $49,479,000 after buying an additional 95,636 shares during the period. Donald Smith & CO. Inc. grew its holdings in Ferroglobe by 19.8% in the second quarter. Donald Smith & CO. Inc. now owns 7,811,120 shares of the basic materials company’s stock valued at $28,667,000 after purchasing an additional 1,288,610 shares during the period. Grizzlyrock Capital LLC grew its holdings in Ferroglobe by 4.3% in the second quarter. Grizzlyrock Capital LLC now owns 4,540,272 shares of the basic materials company’s stock valued at $16,663,000 after purchasing an additional 187,000 shares during the period. Old West Investment Management LLC raised its stake in Ferroglobe by 58.7% during the first quarter. Old West Investment Management LLC now owns 3,435,932 shares of the basic materials company’s stock worth $12,747,000 after purchasing an additional 1,270,625 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Ferroglobe by 1.1% during the second quarter. Russell Investments Group Ltd. now owns 2,216,431 shares of the basic materials company’s stock worth $8,134,000 after purchasing an additional 23,575 shares during the period. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Ferroglobe Trading Down 0.4%

Shares of GSM opened at $4.66 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.66 and a quick ratio of 0.91. Ferroglobe has a 1-year low of $2.97 and a 1-year high of $5.74. The stock has a market cap of $869.70 million, a price-to-earnings ratio of -6.30 and a beta of 1.13. The firm has a 50 day simple moving average of $4.60 and a 200-day simple moving average of $4.29.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The company had revenue of $311.70 million for the quarter, compared to analyst estimates of $393.80 million. Ferroglobe had a negative net margin of 9.92% and a negative return on equity of 6.13%. Equities analysts forecast that Ferroglobe will post 0.33 EPS for the current fiscal year.

Ferroglobe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Monday, December 22nd will be issued a $0.014 dividend. The ex-dividend date is Monday, December 22nd. This represents a $0.06 annualized dividend and a yield of 1.2%. Ferroglobe’s payout ratio is -8.11%.

About Ferroglobe

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics; and silicon metal for primary and secondary aluminum producers.