Ferroglobe (GSM) Rating Reiterated by B. Riley
Ferroglobe (NASDAQ:GSM)‘s stock had its “buy” rating reissued by B. Riley in a note issued to investors on Wednesday. They currently have a $20.00 target price on the basic materials company’s stock, up from their prior target price of $16.00. B. Riley’s price target points to a potential upside of 25.79% from the stock’s previous close. B. Riley also issued estimates for Ferroglobe’s Q3 2017 earnings at $0.04 EPS.
A number of other research firms have also recently issued reports on GSM. Zacks Investment Research cut Ferroglobe from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. Jefferies Group set a $18.00 price target on Ferroglobe and gave the company a “buy” rating in a report on Tuesday. Stifel Nicolaus lifted their price target on Ferroglobe from $19.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Finally, BidaskClub raised Ferroglobe from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 19th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Ferroglobe presently has a consensus rating of “Buy” and a consensus price target of $19.00.
Ferroglobe (NASDAQ:GSM) traded down $0.07 during trading on Wednesday, hitting $15.90. The company had a trading volume of 1,234,400 shares, compared to its average volume of 792,481. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.51 and a quick ratio of 1.42. Ferroglobe has a fifty-two week low of $8.54 and a fifty-two week high of $16.50.
Ferroglobe (NASDAQ:GSM) last released its quarterly earnings results on Monday, November 27th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. Ferroglobe had a negative return on equity of 3.16% and a negative net margin of 4.60%. The business had revenue of $451.60 million during the quarter, compared to analysts’ expectations of $435.15 million. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. sell-side analysts predict that Ferroglobe will post 0.09 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in GSM. Geode Capital Management LLC increased its position in Ferroglobe by 5.3% in the first quarter. Geode Capital Management LLC now owns 149,294 shares of the basic materials company’s stock worth $1,542,000 after purchasing an additional 7,523 shares during the period. Morgan Stanley increased its position in Ferroglobe by 35.7% in the first quarter. Morgan Stanley now owns 495,664 shares of the basic materials company’s stock worth $5,120,000 after purchasing an additional 130,489 shares during the period. Russell Investments Group Ltd. increased its position in Ferroglobe by 65.7% in the second quarter. Russell Investments Group Ltd. now owns 1,705,167 shares of the basic materials company’s stock worth $20,377,000 after purchasing an additional 676,104 shares during the period. SG Capital Management LLC acquired a new stake in Ferroglobe in the second quarter worth about $7,693,000. Finally, Boston Partners increased its position in Ferroglobe by 8.3% in the second quarter. Boston Partners now owns 4,335,985 shares of the basic materials company’s stock worth $51,814,000 after purchasing an additional 333,141 shares during the period. Hedge funds and other institutional investors own 36.62% of the company’s stock.
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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