Ferroglobe PLC (NASDAQ:GSM) Receives Average “Buy” Rating from Brokerages

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Ferroglobe PLC (NASDAQ:GSM – Get Rating) received an average “Buy” rating from the four analysts who cover the company, Marketbeat Ratings reports. Two investment analysts gave the stock a buy rating and one gave the company a strong buy rating. The 1-year average price target among analysts who have covered the stock over the past year is $12.00.

GSM has been the subject of several analyst reports. B. Riley initiated Ferroglobe coverage in a research report on Wednesday, September 14. They set a “buy” rating and a price target of $12.00 on the stock. StockNews.com began covering Ferroglobe in a research report on Wednesday, October 12. They set a “Strong Buy” rating on the stock.

Ferroglobe is trading down 6.9%

NASDAQ:GSM shares opened at $5.56 on Thursday. Ferroglobe has a 52-week low of $4.53 and a 52-week high of $9.81. The stock has a market capitalization of $1.04 billion, a price-earnings ratio of 3.50 and a beta of 2.28. The company has a quick ratio of 1.28, a current ratio of 1.91 and a debt ratio of 0.68. The company has a 50-day moving average price of $6.04 and a 200-day moving average price of $6.39.

Ferroglobe (NASDAQ:GSM – Get Rating) last released its results on Monday August 15th. The basic materials company reported EPS of $1.14 for the quarter, beating the consensus estimate of $0.84 by $0.30. The company posted revenue of $840.81 million for the quarter, versus analyst estimates of $738.00 million. Ferroglobe had a return on equity of 84.00% and a net margin of 11.98%. Stock analysts predict that Ferroglobe will post an EPS of 2.93 for the current year.

Ferroglobe institutional trading

Several institutional investors and hedge funds have recently increased or reduced their stake in the stock. Cannell & Co. increased its position in Ferroglobe by 7.2% in the third quarter. Cannell & Co. now owns 4,696,380 shares of the basic materials company worth $24,797,000 after purchasing an additional 317,275 shares during the period. SummerHaven Investment Management LLC acquired a new position in Ferroglobe during Q3 worth approximately $745,000. Confluence Investment Management LLC increased its position in Ferroglobe by 7.2% during the third quarter. Confluence Investment Management LLC now owns 60,412 shares of the basic materials company worth $319,000 after purchasing an additional 4,077 shares during the period. Goldman Sachs Group Inc. increased its position in Ferroglobe by 38.2% during the second quarter. Goldman Sachs Group Inc. now owns 207,098 shares of the basic materials company worth $1,230,000 after purchasing an additional 57,271 shares during the period. Finally, Wolf Hill Capital Management LP increased its holdings of Ferroglobe shares by 15.0% in the second quarter. Wolf Hill Capital Management LP now owns 4,957,800 shares of the basic materials company worth $29,449,000 after acquiring an additional 645,540 shares during the period. 40.06% of the shares are held by hedge funds and other institutional investors.

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, healthcare and electronics products, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as a deoxidizing agent in the steelmaking process; and ferromanganese which is used as a deoxidizing, desulfurizing and degassing agent in the removal of nitrogen and other harmful elements from steel.

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