Ferroglobe PLC (GSM) Receives $20.00 Consensus Target Price from Analysts

Shares of Ferroglobe PLC (NASDAQ:GSM) have earned a consensus recommendation of “Buy” from the seven research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $20.33.

A number of research firms have commented on GSM. ValuEngine downgraded shares of Ferroglobe from a “hold” rating to a “sell” rating in a research report on Friday. Stifel Nicolaus set a $23.00 target price on shares of Ferroglobe and gave the company a “buy” rating in a research report on Thursday. B. Riley reissued a “buy” rating and set a $20.00 target price (up previously from $16.00) on shares of Ferroglobe in a research report on Wednesday. Jefferies Group set a $18.00 target price on shares of Ferroglobe and gave the company a “buy” rating in a research report on Tuesday, November 28th. Finally, BidaskClub raised shares of Ferroglobe from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 20th.

Large investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of Ferroglobe by 10.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,659 shares of the basic materials company’s stock valued at $127,000 after buying an additional 1,011 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Ferroglobe by 108.3% in the 3rd quarter. Legal & General Group Plc now owns 10,385 shares of the basic materials company’s stock valued at $137,000 after buying an additional 5,400 shares in the last quarter. Invictus RG bought a new stake in shares of Ferroglobe in the 3rd quarter valued at about $146,000. Caxton Associates LP bought a new stake in shares of Ferroglobe in the 3rd quarter valued at about $151,000. Finally, Budros Ruhlin & Roe Inc. boosted its holdings in shares of Ferroglobe by 17.2% in the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 13,603 shares of the basic materials company’s stock valued at $163,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 36.62% of the company’s stock.

Ferroglobe (NASDAQ:GSM) traded down $0.25 during midday trading on Thursday, reaching $16.07. 510,409 shares of the company’s stock were exchanged, compared to its average volume of 546,474. The company has a current ratio of 1.80, a quick ratio of 1.42 and a debt-to-equity ratio of 0.45. Ferroglobe has a 1-year low of $8.54 and a 1-year high of $16.50.

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

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About Ferroglobe

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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