Ferroglobe PLC $GSM Stock Holdings Lifted by Old West Investment Management LLC

Old West Investment Management LLC grew its position in Ferroglobe PLC (NASDAQ:GSM) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,237,914 shares of the basic materials company’s stock after purchasing an additional 146,395 shares during the period. Ferroglobe comprises about 3.4% of Old West Investment Management LLC’s holdings, making the stock its 10th largest position. Old West Investment Management LLC owned approximately 1.73% of Ferroglobe worth $14,733,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Millennium Management LLC grew its stake in shares of Ferroglobe by 168.8% in the 1st quarter. Millennium Management LLC now owns 1,110,759 shares of the basic materials company’s stock valued at $4,121,000 after buying an additional 697,476 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Ferroglobe by 32.6% in the first quarter. Goldman Sachs Group Inc. now owns 331,778 shares of the basic materials company’s stock worth $1,231,000 after acquiring an additional 81,611 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Ferroglobe by 19.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 17,474 shares of the basic materials company’s stock worth $64,000 after purchasing an additional 2,838 shares during the last quarter. R Squared Ltd acquired a new position in shares of Ferroglobe during the 2nd quarter worth $38,000. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Ferroglobe by 14.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 329,477 shares of the basic materials company’s stock valued at $1,209,000 after purchasing an additional 40,731 shares in the last quarter. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Ferroglobe Price Performance

Shares of NASDAQ:GSM opened at $5.16 on Friday. The company has a market cap of $963.01 million, a price-to-earnings ratio of -6.97 and a beta of 1.09. The business has a 50 day moving average price of $4.81 and a 200 day moving average price of $4.55. The company has a quick ratio of 0.91, a current ratio of 1.66 and a debt-to-equity ratio of 0.07. Ferroglobe PLC has a twelve month low of $2.97 and a twelve month high of $5.74.

Ferroglobe (NASDAQ:GSM) last issued its quarterly 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). The business had revenue of $311.70 million for the quarter, compared to analyst estimates of $393.80 million. Ferroglobe had a negative return on equity of 6.13% and a negative net margin of 9.92%. Research analysts predict that Ferroglobe PLC will post 0.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on GSM shares. Wall Street Zen downgraded shares of Ferroglobe from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Zacks Research upgraded Ferroglobe from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a research note on Thursday, January 22nd. Finally, B. Riley Financial decreased their target price on Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.00.

Ferroglobe 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.