Ferroglobe (NASDAQ:GSM) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
A number of other research firms also recently commented on GSM. Jefferies Group reaffirmed a “buy” rating and set a $16.75 target price (down previously from $17.00) on shares of Ferroglobe in a report on Thursday, August 31st. Stifel Nicolaus reaffirmed a “buy” rating on shares of Ferroglobe in a report on Sunday, September 3rd. B. Riley reaffirmed a “buy” rating and set a $16.00 target price on shares of Ferroglobe in a report on Sunday, September 3rd. Finally, Zacks Investment Research downgraded Ferroglobe from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $19.25.
Ferroglobe (GSM) opened at $16.28 on Thursday. The company has a market capitalization of $2,830.00, a price-to-earnings ratio of -11.38 and a beta of 1.75. 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 has a 52 week low of $8.54 and a 52 week high of $17.61.
Institutional investors have recently bought and sold shares of the company. Hosking Partners LLP increased its position in shares of Ferroglobe by 1.6% during the second quarter. Hosking Partners LLP now owns 450,794 shares of the basic materials company’s stock worth $5,387,000 after purchasing an additional 7,283 shares in the last quarter. Comerica Bank purchased a new stake in Ferroglobe in the 2nd quarter valued at $2,899,000. Geode Capital Management LLC grew its holdings in Ferroglobe by 5.3% in the 1st quarter. Geode Capital Management LLC now owns 149,294 shares of the basic materials company’s stock valued at $1,542,000 after buying an additional 7,523 shares in the last quarter. Chicago Equity Partners LLC purchased a new stake in Ferroglobe in the 2nd quarter valued at $2,289,000. Finally, Ninepoint Partners LP purchased a new stake in Ferroglobe in the 3rd quarter valued at $3,611,000. Institutional investors and hedge funds own 36.50% of the company’s stock.
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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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