BidaskClub Downgrades Ferroglobe (GSM) to Hold

Ferroglobe (NASDAQ:GSM) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other research firms also recently commented on GSM. Zacks Investment Research downgraded Ferroglobe from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. Jefferies Group set a $18.00 price objective on Ferroglobe and gave the stock a “buy” rating in a report on Tuesday, November 28th. Stifel Nicolaus lifted their price objective on Ferroglobe from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. B. Riley reiterated a “buy” rating and issued a $20.00 price objective (up previously from $16.00) on shares of Ferroglobe in a report on Wednesday, November 22nd. Finally, ValuEngine downgraded Ferroglobe from a “hold” rating to a “sell” rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $19.25.

Ferroglobe (NASDAQ GSM) opened at $16.20 on Thursday. The company has a market capitalization of $2,797.53, a PE ratio of -60.00 and a beta of 1.76. The company has a quick ratio of 1.09, a current ratio of 1.80 and a debt-to-equity ratio of 0.45. Ferroglobe has a twelve month low of $8.54 and a twelve month high of $17.61.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings data on Monday, November 27th. The basic materials company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The firm had revenue of $451.60 million for the quarter, compared to the consensus estimate of $435.15 million. Ferroglobe had a negative return on equity of 0.75% and a negative net margin of 2.84%. The company’s quarterly revenue was up 23.8% on a year-over-year basis. research analysts expect that Ferroglobe will post 0.13 EPS for the current year.

A number of large investors have recently made changes to their positions in GSM. HighTower Advisors LLC boosted its position in Ferroglobe by 0.4% during the 2nd quarter. HighTower Advisors LLC now owns 41,492 shares of the basic materials company’s stock valued at $498,000 after acquiring an additional 150 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in Ferroglobe by 10.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,659 shares of the basic materials company’s stock valued at $127,000 after acquiring an additional 1,011 shares in the last quarter. Budros Ruhlin & Roe Inc. boosted its position in Ferroglobe by 17.2% during the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 13,603 shares of the basic materials company’s stock valued at $163,000 after acquiring an additional 2,000 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in Ferroglobe by 30.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 15,912 shares of the basic materials company’s stock valued at $209,000 after acquiring an additional 3,725 shares in the last quarter. Finally, Chicago Equity Partners LLC boosted its position in Ferroglobe by 2.6% during the 3rd quarter. Chicago Equity Partners LLC now owns 196,555 shares of the basic materials company’s stock valued at $2,587,000 after acquiring an additional 4,990 shares in the last quarter. Institutional investors own 36.50% of the company’s stock.

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Ferroglobe 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.

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