Globe Specialty Metals Inc. (NASDAQ:GSM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Globe Specialty Metals, Inc., together with its subsidiary companies, is among the world’s largest producers of silicon metal and silicon-based specialty alloys – critical ingredients in a host of industrial and consumer products with growing markets. The Company’s customers include major silicone chemical, aluminum and steel manufacturers, producers of photovoltaic solar cells and computer chips, the auto industry, ductile iron foundries and concrete producers. Headquartered in New York City, the company has major manufacturing facilities in the U.S. states of Ohio, West Virginia, Alabama and New York, as well as in the Brazilian state of Pará, Mendoza province Argentina and Ningxia province China. Its principal operating subsidiaries are Globe Metallurgical, Inc. and Solsil, Inc. in the U.S.; Globe Metais Indústria e Comércio S.A. in Brazil; Globe Metales S.A. in Argentina; and Ningxia Yonvey Coal Industry Co., Ltd., in China. “

Other equities research analysts have also issued reports about the stock. Jefferies Group set a $11.00 target price on shares of Globe Specialty Metals and gave the stock a “buy” rating in a report on Monday, August 29th. Stifel Nicolaus reduced their target price on shares of Globe Specialty Metals from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, August 29th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $12.00 target price (down from $14.00) on shares of Globe Specialty Metals in a report on Monday, August 29th. Robert W. Baird upgraded shares of Globe Specialty Metals from a “neutral” rating to a “buy” rating in a research report on Monday, September 19th. Finally, JPMorgan Chase & Co. downgraded shares of Globe Specialty Metals from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $12.00 to $10.00 in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $12.79.

Analyst Recommendations for Globe Specialty Metals (NASDAQ:GSM)

Shares of Globe Specialty Metals (NASDAQ:GSM) opened at 11.56 on Wednesday. Globe Specialty Metals has a 12 month low of $6.90 and a 12 month high of $13.17. The stock’s 50 day moving average is $9.42 and its 200 day moving average is $9.04. The company’s market cap is $1.99 billion.

Globe Specialty Metals 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.

5 Day Chart for NASDAQ:GSM

Receive News & Stock Ratings for Globe Specialty Metals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globe Specialty Metals Inc. and related stocks with our FREE daily email newsletter.