Ferroglobe (NASDAQ:GSM) Reaches New 52-Week High - Here's Why

Key Points

• Ferroglobe's stock reached a new 52-week high of $4.87 during trading, closing at $4.84 with a total volume of 687,854 shares.
• Despite this price surge, analysts have downgraded Ferroglobe's rating to sell, indicating a consensus rating of "Reduce."
• The company recently announced a quarterly dividend of $0.014 per share, translating to an annual dividend yield of 1.1%.

Ferroglobe PLC (NASDAQ:GSM - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The company traded as high as $4.87 and last traded at $4.84, with a volume of 687854 shares traded. The stock had previously closed at $4.54.

Analysts Set New Price Targets

GSM has been the topic of a number of recent research reports. Weiss Ratings reissued a "sell (d)" rating on shares of Ferroglobe in a report on Saturday, September 27th. Wall Street Zen cut shares of Ferroglobe from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce".

Ferroglobe Stock Performance

The company has a quick ratio of 0.98, a current ratio of 1.56 and a debt-to-equity ratio of 0.14. The stock has a market cap of $940.60 million, a price-to-earnings ratio of -8.84 and a beta of 1.85. The company's 50-day simple moving average is $4.25 and its 200-day simple moving average is $3.97.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Ferroglobe had a negative return on equity of 2.85% and a negative net margin of 6.99%.The business had revenue of $386.86 million during the quarter, compared to analyst estimates of $398.00 million. Analysts predict that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Ferroglobe Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 22nd were paid a dividend of $0.014 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.1%. Ferroglobe's dividend payout ratio (DPR) is -8.77%.

Institutional Investors Weigh In On Ferroglobe

A number of institutional investors have recently modified their holdings of GSM. California State Teachers Retirement System acquired a new stake in shares of Ferroglobe in the 2nd quarter valued at $27,000. Creative Financial Designs Inc. ADV acquired a new position in Ferroglobe during the 1st quarter worth $37,000. BNP Paribas Financial Markets lifted its position in Ferroglobe by 1,017,300.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company's stock worth $37,000 after acquiring an additional 10,173 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in Ferroglobe during the 1st quarter worth $38,000. Finally, R Squared Ltd bought a new position in shares of Ferroglobe during the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 89.64% of the company's stock.

Ferroglobe Company Profile

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys 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; and silicon metal for primary and secondary aluminum producers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.