Ferroglobe (NASDAQ:GSM) Upgraded at Zacks Research

Zacks Research upgraded shares of Ferroglobe (NASDAQ:GSM) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks.com reports.

GSM has been the topic of a number of other research reports. B. Riley dropped their price objective on shares of Ferroglobe from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Wall Street Zen downgraded shares of Ferroglobe from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ferroglobe in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $6.00.

Ferroglobe Price Performance

Shares of GSM opened at $5.29 on Monday. The business’s 50-day moving average is $4.47 and its two-hundred day moving average is $4.47. The company has a market capitalization of $987.27 million, a P/E ratio of -7.15 and a beta of 1.08. Ferroglobe has a fifty-two week low of $2.97 and a fifty-two week high of $5.74. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 1.66.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). The company had revenue of $311.70 million during the quarter, compared to analyst estimates of $393.80 million. Ferroglobe had a negative net margin of 9.92% and a negative return on equity of 6.13%. Research analysts predict that Ferroglobe will post 0.33 earnings per share for the current year.

Ferroglobe Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 22nd were given a dividend of $0.014 per share. The ex-dividend date was Monday, December 22nd. This represents a $0.06 dividend on an annualized basis and a yield of 1.1%. Ferroglobe’s dividend payout ratio is currently -8.11%.

Institutional Trading of Ferroglobe

Institutional investors and hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue acquired a new stake in Ferroglobe in the 3rd quarter worth about $32,000. California State Teachers Retirement System acquired a new stake in shares of Ferroglobe in the second quarter worth approximately $27,000. Spire Wealth Management boosted its stake in shares of Ferroglobe by 49.0% in the fourth quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 2,740 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Ferroglobe by 1,017,300.0% during the second quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 10,173 shares in the last quarter. Finally, Truist Financial Corp acquired a new position in Ferroglobe in the 3rd quarter valued at $46,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Ferroglobe Company Profile

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.