Ferroglobe (NASDAQ:GSM) Upgraded to Buy by StockNews.com

Ferroglobe (NASDAQ:GSMGet Free Report) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Ferroglobe Stock Performance

Shares of GSM opened at $4.75 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.10 and a quick ratio of 1.32. The firm’s 50 day moving average is $4.98 and its 200-day moving average is $5.26. Ferroglobe has a 12-month low of $3.95 and a 12-month high of $6.78. The stock has a market capitalization of $890.29 million, a P/E ratio of 10.33 and a beta of 2.00.

Ferroglobe (NASDAQ:GSMGet Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $375.95 million for the quarter, compared to analyst estimates of $318.80 million. Ferroglobe had a net margin of 5.29% and a return on equity of 16.74%. Equities research analysts anticipate that Ferroglobe will post 0.26 EPS for the current fiscal year.

Institutional Trading of Ferroglobe

A number of hedge funds have recently modified their holdings of the business. Orchard Capital Management LLC acquired a new position in shares of Ferroglobe in the 4th quarter valued at about $6,777,000. Grizzlyrock Capital LLC purchased a new position in Ferroglobe during the fourth quarter valued at approximately $19,467,000. Masters Capital Management LLC increased its stake in Ferroglobe by 9.8% in the 4th quarter. Masters Capital Management LLC now owns 2,300,000 shares of the basic materials company’s stock valued at $14,973,000 after buying an additional 205,000 shares during the period. Appian Way Asset Management LP purchased a new stake in Ferroglobe in the 4th quarter worth approximately $5,435,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Ferroglobe during the 4th quarter valued at $1,687,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

About Ferroglobe

(Get Free Report)

Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.

Further Reading

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