Ferroglobe PLC (GSM) Downgraded to Buy at BidaskClub

BidaskClub downgraded shares of Ferroglobe PLC (NASDAQ:GSM) from a strong-buy rating to a buy rating in a research report released on Saturday.

A number of other research analysts have also issued reports on GSM. B. Riley restated a buy rating and issued a $14.25 target price on shares of Ferroglobe PLC in a report on Tuesday, May 23rd. Jefferies Group LLC reiterated a positive rating and set a $17.00 price objective (up from $12.00) on shares of Ferroglobe PLC in a report on Friday, August 18th. Zacks Investment Research upgraded shares of Ferroglobe PLC from a hold rating to a buy rating and set a $15.00 price objective on the stock in a report on Wednesday, August 23rd. Finally, Stifel Nicolaus reiterated a buy rating on shares of Ferroglobe PLC in a report on Sunday, September 3rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $14.44.

Ferroglobe PLC (NASDAQ:GSM) traded up 0.15% during midday trading on Friday, reaching $13.09. 1,246,221 shares of the company traded hands. The firm’s market capitalization is $2.25 billion. The company’s 50-day moving average price is $13.19 and its 200 day moving average price is $11.23. Ferroglobe PLC has a 12 month low of $8.17 and a 12 month high of $14.46.

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Several hedge funds have recently made changes to their positions in the company. Boston Partners lifted its holdings in shares of Ferroglobe PLC by 8.3% during the 2nd quarter. Boston Partners now owns 4,335,985 shares of the basic materials company’s stock worth $51,814,000 after acquiring an additional 333,141 shares during the period. Frontier Capital Management Co. LLC lifted its holdings in shares of Ferroglobe PLC by 9.4% during the 1st quarter. Frontier Capital Management Co. LLC now owns 4,192,298 shares of the basic materials company’s stock worth $43,306,000 after acquiring an additional 358,583 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Ferroglobe PLC by 16.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,139,899 shares of the basic materials company’s stock worth $49,471,000 after acquiring an additional 589,969 shares during the period. Thompson Siegel & Walmsley LLC lifted its holdings in shares of Ferroglobe PLC by 15.5% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 3,222,024 shares of the basic materials company’s stock worth $27,493,000 after acquiring an additional 431,473 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its holdings in shares of Ferroglobe PLC by 684.5% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,693,853 shares of the basic materials company’s stock worth $32,192,000 after acquiring an additional 2,350,450 shares during the period. Institutional investors and hedge funds own 38.15% of the company’s stock.

Ferroglobe PLC Company Profile

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.

Analyst Recommendations for Ferroglobe PLC (NASDAQ:GSM)

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