Analysts Set Ferroglobe PLC (NASDAQ:GSM) PT at $6.00

Ferroglobe PLC (NASDAQ:GSM) has earned an average rating of “Reduce” from the four brokerages that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $6.00.

GSM has been the topic of several analyst reports. Zacks Research downgraded Ferroglobe from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 12th. Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a research report on Wednesday, October 8th. Wall Street Zen downgraded Ferroglobe from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Finally, B. Riley dropped their price objective on Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th.

Institutional Investors Weigh In On Ferroglobe

Large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new position in shares of Ferroglobe during the third quarter valued at about $32,000. California State Teachers Retirement System purchased a new position in Ferroglobe during the 2nd quarter valued at about $27,000. BNP Paribas Financial Markets raised its position in Ferroglobe by 1,017,300.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 10,173 shares during the last quarter. Truist Financial Corp bought a new position in Ferroglobe during the 3rd quarter valued at approximately $46,000. Finally, R Squared Ltd purchased a new stake in Ferroglobe in the 2nd quarter worth approximately $38,000. Institutional investors own 89.64% of the company’s stock.

Ferroglobe Price Performance

Shares of Ferroglobe stock opened at $4.59 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 1.66. Ferroglobe has a 52-week low of $2.97 and a 52-week high of $5.74. The company has a fifty day moving average of $4.44 and a 200-day moving average of $4.40. The stock has a market capitalization of $856.63 million, a price-to-earnings ratio of -6.20 and a beta of 1.08.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). Ferroglobe had a negative return on equity of 6.13% and a negative net margin of 9.92%.The business had revenue of $311.70 million during the quarter, compared to analysts’ expectations of $393.80 million. Equities research analysts expect that Ferroglobe will post 0.33 EPS for the current year.

Ferroglobe Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 22nd were issued a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, December 22nd. Ferroglobe’s dividend payout ratio is currently -8.11%.

About Ferroglobe

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.