Zacks Investment Research upgraded shares of Ferroglobe PLC (NASDAQ:GSM) from a hold rating to a buy rating in a report released on Wednesday morning. The brokerage currently has $14.00 price objective on the basic materials company’s stock.

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. “

GSM has been the topic of several other reports. TheStreet cut Ferroglobe PLC from a c- rating to a d rating in a research report on Thursday, May 18th. BidaskClub raised Ferroglobe PLC from a buy rating to a strong-buy rating in a research report on Thursday, July 6th. ValuEngine raised Ferroglobe PLC from a sell rating to a hold rating in a research report on Tuesday, May 16th. Jefferies Group LLC reissued a buy rating and issued a $13.00 target price on shares of Ferroglobe PLC in a research report on Thursday, May 11th. Finally, B. Riley reissued a buy rating and issued a $14.25 target price on shares of Ferroglobe PLC in a research report on Sunday, May 28th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Ferroglobe PLC has a consensus rating of Buy and an average target price of $13.21.

Ferroglobe PLC (NASDAQ GSM) traded up 0.24% during midday trading on Wednesday, reaching $12.54. 359,727 shares of the company’s stock traded hands. The stock’s market cap is $2.15 billion. Ferroglobe PLC has a one year low of $7.67 and a one year high of $12.68. The stock’s 50 day moving average price is $10.40 and its 200-day moving average price is $10.41.

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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Frontier Capital Management Co. LLC boosted its position in Ferroglobe PLC by 9.4% in the first quarter. Frontier Capital Management Co. LLC now owns 4,192,298 shares of the basic materials company’s stock worth $43,306,000 after buying an additional 358,583 shares during the last quarter. Boston Partners boosted its position in Ferroglobe PLC by 15.1% in the first quarter. Boston Partners now owns 4,002,844 shares of the basic materials company’s stock worth $41,349,000 after buying an additional 525,827 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Ferroglobe PLC by 22.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,549,930 shares of the basic materials company’s stock worth $36,671,000 after buying an additional 657,529 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Ferroglobe PLC by 1.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,902,999 shares of the basic materials company’s stock worth $19,658,000 after buying an additional 30,153 shares during the last quarter. Finally, FMR LLC boosted its position in Ferroglobe PLC by 53.2% in the first quarter. FMR LLC now owns 1,707,268 shares of the basic materials company’s stock worth $17,636,000 after buying an additional 593,168 shares during the last quarter. 40.00% of the stock is currently owned by hedge funds and other institutional investors.

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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