Ferroglobe PLC (NASDAQ:GSM) Given Average Recommendation of “Buy” by Brokerages

Shares of Ferroglobe PLC (NASDAQ:GSMGet Rating) have been given an average recommendation of “Buy” by the four research firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $10.00.

A number of research firms recently weighed in on GSM. StockNews.com lowered shares of Ferroglobe from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 17th. B. Riley lowered their target price on Ferroglobe from $12.00 to $10.00 in a research note on Friday, November 25th. Finally, TheStreet raised Ferroglobe from a “c+” rating to a “b-” rating in a research note on Tuesday, November 15th.

Hedge Funds Weigh In On Ferroglobe

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Ferroglobe by 96.8% during the 1st quarter. BlackRock Inc. now owns 188,581 shares of the basic materials company’s stock valued at $1,452,000 after acquiring an additional 92,757 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Ferroglobe by 49.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 181,863 shares of the basic materials company’s stock valued at $1,400,000 after buying an additional 60,002 shares during the period. UBS Group AG raised its holdings in Ferroglobe by 1,187.9% during the 1st quarter. UBS Group AG now owns 33,627 shares of the basic materials company’s stock valued at $259,000 after buying an additional 31,016 shares during the period. Engineers Gate Manager LP purchased a new stake in Ferroglobe during the 1st quarter valued at $598,000. Finally, State Street Corp raised its holdings in Ferroglobe by 4.6% during the 1st quarter. State Street Corp now owns 33,691 shares of the basic materials company’s stock valued at $259,000 after buying an additional 1,477 shares during the period. 42.59% of the stock is owned by institutional investors.

Ferroglobe Stock Up 1.3 %

Ferroglobe stock opened at $4.84 on Tuesday. Ferroglobe has a fifty-two week low of $3.64 and a fifty-two week high of $9.81. The stock has a market cap of $906.59 million, a PE ratio of 1.83 and a beta of 2.16. The firm’s 50-day simple moving average is $4.44 and its 200 day simple moving average is $5.49. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.09 and a current ratio of 1.90.

Ferroglobe (NASDAQ:GSMGet Rating) last announced its quarterly earnings results on Tuesday, November 15th. The basic materials company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.04). The business had revenue of $593.22 million for the quarter, compared to analysts’ expectations of $694.65 million. Ferroglobe had a net margin of 18.41% and a return on equity of 101.74%. Research analysts predict that Ferroglobe will post 3.1 EPS for the current fiscal year.

Ferroglobe Company Profile

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Ferroglobe PLC operates in the silicon and specialty metals industry 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, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.

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