Ferroglobe (GSM) Downgraded by BidaskClub to “Buy”

BidaskClub downgraded shares of Ferroglobe (NASDAQ:GSM) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday.

A number of other research firms have also issued reports on GSM. Stifel Nicolaus set a $23.00 target price on Ferroglobe and gave the company a buy rating in a research note on Thursday, November 30th. ValuEngine lowered Ferroglobe from a hold rating to a sell rating in a research note on Friday, December 1st. Jefferies Group set a $18.00 price target on Ferroglobe and gave the stock a buy rating in a research note on Tuesday, November 28th. B. Riley reissued a buy rating and set a $20.00 price target (up previously from $16.00) on shares of Ferroglobe in a research note on Wednesday, November 29th. Finally, Zacks Investment Research lowered Ferroglobe from a buy rating to a hold rating in a research note on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $19.25.

Ferroglobe (NASDAQ:GSM) traded down $0.01 during mid-day trading on Wednesday, reaching $15.61. The company had a trading volume of 360,800 shares, compared to its average volume of 783,488. Ferroglobe has a 12-month low of $8.54 and a 12-month high of $16.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.09 and a current ratio of 1.80.

Ferroglobe (NASDAQ:GSM) last posted its earnings results on Monday, November 27th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Ferroglobe had a negative return on equity of 0.75% and a negative net margin of 2.84%. The firm had revenue of $451.60 million for the quarter, compared to analyst estimates of $435.15 million. The business’s revenue was up 23.8% on a year-over-year basis. analysts expect that Ferroglobe will post 0.13 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of Ferroglobe by 5.3% during the 1st quarter. Geode Capital Management LLC now owns 149,294 shares of the basic materials company’s stock worth $1,542,000 after buying an additional 7,523 shares during the last quarter. Morgan Stanley increased its holdings in shares of Ferroglobe by 35.7% during the 1st quarter. Morgan Stanley now owns 495,664 shares of the basic materials company’s stock worth $5,120,000 after buying an additional 130,489 shares during the last quarter. Boston Partners increased its holdings in shares of Ferroglobe by 8.3% during the 2nd quarter. Boston Partners now owns 4,335,985 shares of the basic materials company’s stock worth $51,814,000 after buying an additional 333,141 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of Ferroglobe during the 2nd quarter worth $2,224,000. Finally, Comerica Bank acquired a new stake in shares of Ferroglobe during the 2nd quarter worth $2,899,000. 36.61% of the stock is currently owned by institutional investors.

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Ferroglobe 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.

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