Ferroglobe PLC (GSM) Receives $13.05 Consensus Price Target from Analysts

Ferroglobe PLC (NASDAQ:GSM) has received a consensus rating of “Buy” from the seven analysts that are currently covering the firm. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $13.05.

A number of equities research analysts recently commented on the company. B. Riley reiterated a “buy” rating and issued a $14.25 target price on shares of Ferroglobe PLC in a research report on Wednesday, March 22nd. Zacks Investment Research upgraded Ferroglobe PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, March 15th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $13.00 target price (down previously from $14.50) on shares of Ferroglobe PLC in a research report on Saturday, March 11th.

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A number of hedge funds have recently modified their holdings of the stock. FMR LLC boosted its stake in shares of Ferroglobe PLC by 58.2% in the fourth quarter. FMR LLC now owns 1,114,100 shares of the basic materials company’s stock valued at $12,066,000 after buying an additional 410,000 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Ferroglobe PLC during the fourth quarter valued at about $412,000. Federated Investors Inc. PA boosted its position in Ferroglobe PLC by 13,058.0% in the fourth quarter. Federated Investors Inc. PA now owns 660,663 shares of the basic materials company’s stock worth $7,155,000 after buying an additional 655,642 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Ferroglobe PLC by 17.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,892,401 shares of the basic materials company’s stock worth $31,326,000 after buying an additional 438,379 shares in the last quarter. Finally, State Street Corp boosted its position in Ferroglobe PLC by 5.7% in the fourth quarter. State Street Corp now owns 1,134,153 shares of the basic materials company’s stock worth $12,282,000 after buying an additional 60,663 shares in the last quarter. Institutional investors own 41.01% of the company’s stock.

Ferroglobe PLC (NASDAQ:GSM) traded down 6.46% during midday trading on Tuesday, hitting $9.56. 1,087,283 shares of the stock traded hands. The company’s market capitalization is $1.64 billion. The stock’s 50-day moving average price is $10.20 and its 200 day moving average price is $10.41. Ferroglobe PLC has a 52 week low of $7.67 and a 52 week high of $12.53.

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.