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.

COPYRIGHT VIOLATION WARNING: “Ferroglobe (GSM) Rating Reiterated by B. Riley” was first posted by Daily Political and is the property of of Daily Political. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark laws. The legal version of this news story can be read at https://www.dailypolitical.com/2017/11/29/ferroglobe-gsm-price-target-raised-to-20-00.html.

About Ferroglobe

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.

Receive News & Ratings for Ferroglobe PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferroglobe PLC and related companies with MarketBeat.com's FREE daily email newsletter.