Ferroglobe PLC (GSM) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Ferroglobe PLC (NASDAQ:GSM) from a hold rating to a buy rating in a research note issued to investors on Wednesday. Zacks Investment Research 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 subject of a number of other reports. BidaskClub upgraded Ferroglobe PLC from a hold rating to a buy rating in a research note on Wednesday, June 28th. Jefferies Group LLC reiterated a buy rating and issued a $13.00 price target on shares of Ferroglobe PLC in a research note on Thursday, May 11th. ValuEngine upgraded Ferroglobe PLC from a sell rating to a hold rating in a research note on Tuesday, May 16th. B. Riley reiterated a buy rating and issued a $14.25 price target on shares of Ferroglobe PLC in a research note on Tuesday, May 23rd. Finally, TheStreet cut Ferroglobe PLC from a c- rating to a d rating in a research note on Thursday, May 18th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $13.21.

Ferroglobe PLC (NASDAQ:GSM) opened at 12.54 on Wednesday. The company’s market cap is $2.15 billion. The company’s 50 day moving average price is $10.40 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 $12.68.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Frontier Capital Management Co. LLC raised 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 valued at $43,306,000 after buying an additional 358,583 shares during the period. Boston Partners raised 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 valued at $41,349,000 after buying an additional 525,827 shares during the period. Dimensional Fund Advisors LP raised 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 valued at $36,671,000 after buying an additional 657,529 shares during the period. Massachusetts Financial Services Co. MA raised 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 valued at $19,658,000 after buying an additional 30,153 shares during the period. Finally, FMR LLC raised 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 valued at $17,636,000 after buying an additional 593,168 shares during the period. 40.00% of the stock is 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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