Ferroglobe (NASDAQ:GSM) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Ferroglobe PLC (NASDAQ:GSM) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.52 and traded as high as $5.30. Ferroglobe shares last traded at $4.94, with a volume of 1,361,819 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GSM shares. Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a report on Thursday. B. Riley decreased their price target on shares of Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Wall Street Zen downgraded Ferroglobe from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Finally, Zacks Research upgraded Ferroglobe from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ferroglobe currently has a consensus rating of “Hold” and an average price target of $6.00.

Ferroglobe Price Performance

The company has a fifty day simple moving average of $4.66 and a two-hundred day simple moving average of $4.52. The stock has a market capitalization of $921.95 million, a price-to-earnings ratio of -6.68 and a beta of 1.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 1.66.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). The firm had revenue of $311.70 million during the quarter, compared to the consensus estimate of $393.80 million. Ferroglobe had a negative net margin of 9.92% and a negative return on equity of 6.13%. As a group, equities research analysts expect that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 22nd were paid a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, December 22nd. Ferroglobe’s payout ratio is presently -8.11%.

Institutional Investors Weigh In On Ferroglobe

Several large investors have recently modified their holdings of the stock. Unison Advisors LLC bought a new stake in shares of Ferroglobe in the 4th quarter worth approximately $724,000. Spire Wealth Management raised its stake in shares of Ferroglobe by 49.0% in the fourth quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock valued at $39,000 after buying an additional 2,740 shares during the period. SG Americas Securities LLC raised its stake in shares of Ferroglobe by 22.0% in the fourth quarter. SG Americas Securities LLC now owns 14,509 shares of the basic materials company’s stock valued at $67,000 after buying an additional 2,617 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of Ferroglobe during the 3rd quarter valued at $373,000. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Ferroglobe during the 3rd quarter worth $58,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Ferroglobe Company Profile

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.