BidaskClub Downgrades Ferroglobe (GSM) to Hold

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.

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 the consensus estimate 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 company had revenue of $451.60 million for the quarter, compared to analyst estimates of $435.15 million. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. analysts forecast that Ferroglobe will post 0.13 EPS for the current year.

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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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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