Ferroglobe (NASDAQ:GSM) Raised to “Hold” at Zacks Research

Ferroglobe (NASDAQ:GSM) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also recently commented on GSM. Wall Street Zen cut shares of Ferroglobe from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. B. Riley dropped their price objective on Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Ferroglobe has a consensus rating of “Hold” and a consensus target price of $6.00.

Ferroglobe Trading Up 7.1%

NASDAQ:GSM traded up $0.36 on Monday, hitting $5.33. 964,879 shares of the stock were exchanged, compared to its average volume of 802,841. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 1.66. Ferroglobe has a 52 week low of $2.97 and a 52 week high of $5.74. The stock has a market capitalization of $993.78 million, a price-to-earnings ratio of -7.20 and a beta of 1.08. The company’s 50-day moving average price is $4.45 and its 200 day moving average price is $4.47.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). Ferroglobe had a negative return on equity of 6.13% and a negative net margin of 9.92%.The business had revenue of $311.70 million for the quarter, compared to analyst estimates of $393.80 million. On average, equities research analysts forecast that Ferroglobe will post 0.33 earnings per share for the current year.

Institutional Trading of Ferroglobe

Several hedge funds have recently bought and sold shares of the stock. Hosking Partners LLP boosted its holdings in shares of Ferroglobe by 0.9% in the third quarter. Hosking Partners LLP now owns 10,874,422 shares of the basic materials company’s stock valued at $49,479,000 after buying an additional 95,636 shares during the period. Donald Smith & CO. Inc. increased its holdings in Ferroglobe by 19.8% during the 2nd quarter. Donald Smith & CO. Inc. now owns 7,811,120 shares of the basic materials company’s stock worth $28,667,000 after purchasing an additional 1,288,610 shares in the last quarter. Grizzlyrock Capital LLC raised its stake in shares of Ferroglobe by 4.3% in the 2nd quarter. Grizzlyrock Capital LLC now owns 4,540,272 shares of the basic materials company’s stock valued at $16,663,000 after purchasing an additional 187,000 shares during the period. Old West Investment Management LLC raised its stake in shares of Ferroglobe by 4.7% in the 3rd quarter. Old West Investment Management LLC now owns 3,237,914 shares of the basic materials company’s stock valued at $14,733,000 after purchasing an additional 146,395 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Ferroglobe by 1.1% in the second quarter. Russell Investments Group Ltd. now owns 2,216,431 shares of the basic materials company’s stock valued at $8,134,000 after purchasing an additional 23,575 shares in the last quarter. 89.64% of the stock is currently owned by institutional investors and hedge funds.

About Ferroglobe

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.