Ferroglobe (NASDAQ:GSM) Upgraded by Zacks Research to “Hold” Rating

Ferroglobe (NASDAQ:GSM) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a research report on Wednesday, October 8th. Wall Street Zen cut Ferroglobe from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Finally, B. Riley dropped their price target on Ferroglobe from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ferroglobe has an average rating of “Hold” and an average price target of $6.00.

Ferroglobe Price Performance

Shares of GSM opened at $4.97 on Monday. The company has a current ratio of 1.66, a quick ratio of 0.91 and a debt-to-equity ratio of 0.07. The stock has a market cap of $927.53 million, a P/E ratio of -6.72 and a beta of 1.08. The stock’s 50-day moving average price is $4.45 and its two-hundred day moving average price is $4.47. Ferroglobe has a 1 year low of $2.97 and a 1 year high of $5.74.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The firm had revenue of $311.70 million during the quarter, compared to analyst estimates of $393.80 million. Ferroglobe had a negative net margin of 9.92% and a negative return on equity of 6.13%. On average, equities analysts predict that Ferroglobe will post 0.33 earnings per share for the current year.

Institutional Investors Weigh In On Ferroglobe

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hosking Partners LLP grew its holdings in shares of Ferroglobe by 0.9% in the 3rd quarter. Hosking Partners LLP now owns 10,874,422 shares of the basic materials company’s stock valued at $49,479,000 after acquiring an additional 95,636 shares in the last quarter. Donald Smith & CO. Inc. increased its position in shares of Ferroglobe by 19.8% during the 2nd quarter. Donald Smith & CO. Inc. now owns 7,811,120 shares of the basic materials company’s stock worth $28,667,000 after purchasing an additional 1,288,610 shares during the last quarter. Grizzlyrock Capital LLC raised its stake in shares of Ferroglobe by 4.3% during the 2nd quarter. Grizzlyrock Capital LLC now owns 4,540,272 shares of the basic materials company’s stock worth $16,663,000 after purchasing an additional 187,000 shares in the last quarter. Old West Investment Management LLC boosted its holdings in shares of Ferroglobe by 4.7% in the 3rd quarter. Old West Investment Management LLC now owns 3,237,914 shares of the basic materials company’s stock valued at $14,733,000 after buying an additional 146,395 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Ferroglobe by 1.1% in the second quarter. Russell Investments Group Ltd. now owns 2,216,431 shares of the basic materials company’s stock valued at $8,134,000 after buying an additional 23,575 shares in the last quarter. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Ferroglobe Company Profile

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.