BidaskClub Lowers Ferroglobe (GSM) to Hold

BidaskClub cut shares of Ferroglobe (NASDAQ:GSM) from a buy rating to a hold rating in a report issued on Thursday morning.

GSM has been the subject of a number of other reports. ValuEngine cut Ferroglobe from a hold rating to a sell rating in a research report on Friday, December 1st. Stifel Nicolaus set a $23.00 price objective on Ferroglobe and gave the company a buy rating in a research report on Thursday, November 30th. B. Riley reaffirmed a buy rating and issued a $20.00 price objective (up from $16.00) on shares of Ferroglobe in a research report on Wednesday, November 29th. Jefferies Group set a $18.00 price objective on Ferroglobe and gave the company a buy rating in a research report on Tuesday, November 28th. Finally, Zacks Investment Research cut Ferroglobe from a buy rating to a hold rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $19.25.

Ferroglobe (NASDAQ:GSM) opened at $16.20 on Thursday. Ferroglobe has a 52-week low of $8.54 and a 52-week high of $17.61. The company has a quick ratio of 1.09, a current ratio of 1.80 and a debt-to-equity ratio of 0.45.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its holdings in Ferroglobe by 10.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,659 shares of the basic materials company’s stock worth $127,000 after purchasing an additional 1,011 shares during the last quarter. Legal & General Group Plc lifted its holdings in Ferroglobe by 108.3% during the 3rd 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 stake in Ferroglobe during the 3rd quarter worth approximately $146,000. Caxton Associates LP acquired a new stake in Ferroglobe during the 3rd quarter worth approximately $151,000. Finally, Budros Ruhlin & Roe Inc. lifted its holdings in Ferroglobe by 17.2% during the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 13,603 shares of the basic materials company’s stock worth $163,000 after purchasing an additional 2,000 shares during the last quarter. 36.50% of the stock is owned by institutional investors.

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Ferroglobe Company Profile

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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