Ferroglobe (NASDAQ:GSM) Trading 7% Higher – Should You Buy?

Ferroglobe PLC (NASDAQ:GSM) shares were up 7% during trading on Wednesday . The company traded as high as $5.26 and last traded at $5.32. 343,757 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 718,377 shares. The stock had previously closed at $4.97.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Ferroglobe from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. B. Riley decreased their price objective on shares of Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Finally, Zacks Research upgraded shares of Ferroglobe from a “strong sell” rating to a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.00.

Ferroglobe Trading Down 7.2%

The company has a market capitalization of $920.09 million, a P/E ratio of -6.66 and a beta of 1.08. The company has a quick ratio of 0.91, a current ratio of 1.66 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average price is $4.51 and its 200 day moving average price is $4.49.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $311.70 million for the quarter, compared to the consensus estimate of $393.80 million. As a group, equities research analysts predict that Ferroglobe PLC will post 0.33 earnings per share for the current year.

Ferroglobe Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 22nd were paid a $0.014 dividend. The ex-dividend date was Monday, December 22nd. This represents a $0.06 annualized dividend and a dividend yield of 1.1%. Ferroglobe’s dividend payout ratio is presently -8.11%.

Institutional Investors Weigh In On Ferroglobe

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System bought a new position in shares of Ferroglobe in the second quarter worth $27,000. State of Alaska Department of Revenue bought a new position in Ferroglobe in the 3rd quarter worth about $32,000. BNP Paribas Financial Markets grew its holdings in Ferroglobe by 1,017,300.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock valued at $37,000 after buying an additional 10,173 shares in the last quarter. R Squared Ltd bought a new stake in shares of Ferroglobe during the second quarter valued at about $38,000. Finally, Spire Wealth Management lifted its holdings in shares of Ferroglobe by 49.0% in the fourth quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock worth $39,000 after buying an additional 2,740 shares in the last quarter. Institutional investors own 89.64% of the company’s stock.

Ferroglobe Company Profile

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.