A number of other equities research analysts also recently issued reports on GSM. Zacks Investment Research downgraded shares of Ferroglobe from a “hold” rating to a “sell” rating in a research note on Wednesday, April 17th. ValuEngine raised shares of Ferroglobe from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, B. Riley set a $5.00 price target on shares of Ferroglobe and gave the company a “buy” rating in a research note on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $7.43.
Ferroglobe stock opened at $1.55 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.74 and a debt-to-equity ratio of 0.63. Ferroglobe has a 52-week low of $1.44 and a 52-week high of $10.11.
Ferroglobe (NASDAQ:GSM) last released its quarterly earnings results on Monday, June 3rd. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.02). The business had revenue of $456.79 million for the quarter, compared to analysts’ expectations of $481.09 million. Ferroglobe had a net margin of 1.20% and a negative return on equity of 0.37%. Ferroglobe’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 EPS. On average, sell-side analysts forecast that Ferroglobe will post -0.43 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the company. State of Tennessee Treasury Department purchased a new stake in shares of Ferroglobe in the first quarter valued at $31,000. IHT Wealth Management LLC bought a new position in shares of Ferroglobe in the fourth quarter worth about $59,000. Legal & General Group Plc grew its holdings in shares of Ferroglobe by 339.8% in the fourth quarter. Legal & General Group Plc now owns 65,900 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 50,915 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Ferroglobe in the fourth quarter worth about $112,000. Finally, Miracle Mile Advisors LLC bought a new position in shares of Ferroglobe in the first quarter worth about $126,000. 37.61% of the stock is currently owned by institutional investors and hedge funds.
Ferroglobe Company Profile
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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