Ferroglobe (GSM) Hits New 1-Year Low at $5.50

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Shares of Ferroglobe PLC (NASDAQ:GSM) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $5.50 and last traded at $5.48, with a volume of 1268836 shares traded. The stock had previously closed at $6.64.

Several analysts recently issued reports on GSM shares. BidaskClub upgraded Ferroglobe from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 21st. Zacks Investment Research lowered Ferroglobe from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 25th. Finally, Jefferies Financial Group set a $10.00 target price on Ferroglobe and gave the stock a “buy” rating in a report on Thursday, August 16th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $15.20.

The firm has a market capitalization of $1.13 billion, a PE ratio of 42.12 and a beta of 1.67. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.75 and a quick ratio of 0.68.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings data on Tuesday, August 21st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.05). The business had revenue of $583.00 million during the quarter, compared to the consensus estimate of $608.91 million. Ferroglobe had a net margin of 6.44% and a return on equity of 8.53%. Ferroglobe’s quarterly revenue was up 36.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 EPS. Equities analysts expect that Ferroglobe PLC will post 0.66 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Fox Run Management L.L.C. bought a new stake in Ferroglobe in the third quarter valued at approximately $114,000. Stevens Capital Management LP bought a new stake in Ferroglobe in the second quarter valued at approximately $118,000. Paloma Partners Management Co bought a new stake in Ferroglobe in the second quarter valued at approximately $161,000. Trellus Management Company LLC bought a new stake in Ferroglobe in the second quarter valued at approximately $163,000. Finally, Bank of Montreal Can raised its stake in Ferroglobe by 25.8% in the third quarter. Bank of Montreal Can now owns 81,302 shares of the basic materials company’s stock valued at $664,000 after buying an additional 16,694 shares during the period. Hedge funds and other institutional investors own 42.66% of the company’s stock.

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About Ferroglobe (NASDAQ:GSM)

Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. The company offers silicone chemicals used in a range of applications, including personal care items, construction-related products, health care products, and electronics, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.

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