Ferroglobe (NASDAQ:GSM) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Ferroglobe (NASDAQ:GSM) from a sell rating to a hold rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “Ferroglobe PLC provides silicon and specialty metals. It produces silicon metal and silicon and manganese based alloy, serves in the specialty chemical, aluminum, solar, steel and ductile iron foundry industries. Ferroglobe PLC is headquartered in London, the United Kingdom. “

Separately, ValuEngine raised Ferroglobe from a hold rating to a buy rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Ferroglobe currently has a consensus rating of Hold and an average target price of $2.88.

NASDAQ GSM opened at $1.01 on Wednesday. The firm has a market capitalization of $170.81 million, a P/E ratio of -0.77 and a beta of 2.34. Ferroglobe has a 1-year low of $0.51 and a 1-year high of $3.01. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.76 and a quick ratio of 0.96. The business’s 50-day simple moving average is $0.93 and its 200-day simple moving average is $0.96.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings data on Monday, December 2nd. The basic materials company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.08. The business had revenue of $381.75 million for the quarter, compared to analyst estimates of $397.30 million. Ferroglobe had a negative return on equity of 8.27% and a negative net margin of 11.96%. On average, equities research analysts expect that Ferroglobe will post -0.61 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC grew its position in shares of Ferroglobe by 69.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 19,561 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 8,033 shares in the last quarter. Invesco Ltd. grew its position in shares of Ferroglobe by 255.3% in the 2nd quarter. Invesco Ltd. now owns 1,757,843 shares of the basic materials company’s stock worth $2,988,000 after acquiring an additional 1,263,094 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Ferroglobe by 8.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,163,398 shares of the basic materials company’s stock worth $4,705,000 after acquiring an additional 307,818 shares in the last quarter. Millennium Management LLC boosted its position in Ferroglobe by 1,557.9% during the 3rd quarter. Millennium Management LLC now owns 397,262 shares of the basic materials company’s stock valued at $448,000 after purchasing an additional 373,300 shares during the period. Finally, Royce & Associates LP boosted its position in Ferroglobe by 16.0% during the 4th quarter. Royce & Associates LP now owns 2,601,978 shares of the basic materials company’s stock valued at $2,446,000 after purchasing an additional 359,178 shares during the period. Institutional investors and hedge funds own 30.87% of the company’s stock.

About Ferroglobe

Ferroglobe PLC engages in the production of silicon metal, silicon-based specialty alloys, and ferroalloys. It operates through the following segments: Electrometallurgy-North America, Electrometallurgy-Europe, Electrometallurgy-South Africa, and Other. The company was founded on February 5, 2015 and is headquartered in London, the United Kingdom.

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