Ferroglobe PLC (GSM) Upgraded by Zacks Investment Research to Hold
According to Zacks, “Globe Specialty Metals, Inc., together with its subsidiary companies, is among the world’s largest producers of silicon metal and silicon-based specialty alloys – critical ingredients in a host of industrial and consumer products with growing markets. The Company’s customers include major silicone chemical, aluminum and steel manufacturers, producers of photovoltaic solar cells and computer chips, the auto industry, ductile iron foundries and concrete producers. Headquartered in New York City, the company has major manufacturing facilities in the U.S. states of Ohio, West Virginia, Alabama and New York, as well as in the Brazilian state of Pará, Mendoza province Argentina and Ningxia province China. Its principal operating subsidiaries are Globe Metallurgical, Inc. and Solsil, Inc. in the U.S.; Globe Metais Indústria e Comércio S.A. in Brazil; Globe Metales S.A. in Argentina; and Ningxia Yonvey Coal Industry Co., Ltd., in China. “
Other analysts have also issued reports about the company. B. Riley reaffirmed a buy rating and issued a $12.50 price objective on shares of Ferroglobe PLC in a research note on Wednesday, May 25th. Jefferies Group raised Ferroglobe PLC from a hold rating to a buy rating and cut their price target for the company from $19.00 to $11.00 in a research note on Monday, June 13th. Oppenheimer Holdings Inc. reissued an outperform rating and set a $12.00 price target (down from $14.00) on shares of Ferroglobe PLC in a research note on Monday, August 29th. Robert W. Baird raised Ferroglobe PLC from a neutral rating to a buy rating in a research note on Monday. Finally, Stifel Nicolaus cut their price target on Ferroglobe PLC from $17.00 to $16.00 and set a buy rating on the stock in a research note on Monday, August 29th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $12.38.
Shares of Ferroglobe PLC (NASDAQ:GSM) opened at 9.07 on Thursday. The company’s market capitalization is $1.56 billion. The company’s 50-day moving average price is $8.91 and its 200-day moving average price is $9.05. Ferroglobe PLC has a 1-year low of $6.90 and a 1-year high of $14.48.
Ferroglobe PLC (NASDAQ:GSM) last released its quarterly earnings data on Friday, August 26th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by $0.03. On average, equities analysts expect that Ferroglobe PLC will post ($0.09) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 28th. Investors of record on Wednesday, September 14th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Monday, September 12th.
About Ferroglobe PLC
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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