Ferroglobe (NASDAQ:GSM) Upgraded to “Buy” at StockNews.com

Ferroglobe (NASDAQ:GSM) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Ferroglobe Stock Down 0.7 %

Shares of GSM opened at $5.36 on Thursday. The firm has a market cap of $1.00 billion, a P/E ratio of 11.65 and a beta of 1.99. Ferroglobe has a 12 month low of $4.03 and a 12 month high of $6.78. The stock’s 50 day moving average is $4.92 and its two-hundred day moving average is $5.27. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Wednesday, February 21st. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $375.95 million for the quarter, compared to analyst estimates of $318.80 million. Ferroglobe had a return on equity of 16.74% and a net margin of 5.29%. Analysts predict that Ferroglobe will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. New York State Common Retirement Fund acquired a new position in shares of Ferroglobe during the third quarter valued at approximately $47,000. Covestor Ltd raised its stake in Ferroglobe by 12,965.3% in the 3rd quarter. Covestor Ltd now owns 9,407 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 9,335 shares during the last quarter. Mutual Advisors LLC purchased a new position in Ferroglobe in the 3rd quarter valued at $52,000. Banco Santander S.A. acquired a new stake in Ferroglobe during the 3rd quarter worth $77,000. Finally, Fox Run Management L.L.C. acquired a new stake in Ferroglobe during the 3rd quarter worth $79,000. 89.64% of the stock is owned by hedge funds and other institutional investors.

About Ferroglobe

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.