Ferroglobe (NASDAQ:GSM) Share Price Passes Above 200-Day Moving Average - Here's Why

Shares of Ferroglobe PLC (NASDAQ:GSM - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.82 and traded as high as $4.77. Ferroglobe shares last traded at $4.74, with a volume of 2,363,817 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Ferroglobe from a "sell" rating to a "hold" rating in a research note on Saturday, May 31st.

Ferroglobe Trading Down 1.8%

The company has a market cap of $837.60 million, a price-to-earnings ratio of -13.59 and a beta of 1.57. The firm has a 50 day moving average price of $4.04 and a two-hundred day moving average price of $3.84. The company has a quick ratio of 1.00, a current ratio of 1.66 and a debt-to-equity ratio of 0.04.

Ferroglobe (NASDAQ:GSM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.08). The company had revenue of $307.18 million during the quarter, compared to analyst estimates of $336.00 million. Ferroglobe had a negative net margin of 3.80% and a positive return on equity of 1.93%. As a group, equities analysts forecast that Ferroglobe PLC will post 0.33 earnings per share for the current year.

Ferroglobe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Wednesday, June 18th were given a dividend of $0.014 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.06 annualized dividend and a dividend yield of 1.25%. Ferroglobe's payout ratio is -18.18%.

Institutional Investors Weigh In On Ferroglobe

Institutional investors and hedge funds have recently made changes to their positions in the business. Cooper Creek Partners Management LLC lifted its holdings in shares of Ferroglobe by 2.0% in the fourth quarter. Cooper Creek Partners Management LLC now owns 14,990,483 shares of the basic materials company's stock valued at $56,964,000 after purchasing an additional 291,201 shares in the last quarter. Hosking Partners LLP grew its position in shares of Ferroglobe by 18.1% in the first quarter. Hosking Partners LLP now owns 10,633,729 shares of the basic materials company's stock valued at $39,451,000 after purchasing an additional 1,629,431 shares in the last quarter. Wolf Hill Capital Management LP boosted its stake in Ferroglobe by 11.0% during the fourth quarter. Wolf Hill Capital Management LP now owns 7,236,693 shares of the basic materials company's stock valued at $27,499,000 after buying an additional 714,726 shares during the period. Donald Smith & CO. Inc. lifted its stake in Ferroglobe by 9.6% during the first quarter. Donald Smith & CO. Inc. now owns 6,522,510 shares of the basic materials company's stock worth $24,199,000 after purchasing an additional 571,459 shares during the last quarter. Finally, Old West Investment Management LLC lifted its stake in Ferroglobe by 58.7% during the first quarter. Old West Investment Management LLC now owns 3,435,932 shares of the basic materials company's stock worth $12,747,000 after purchasing an additional 1,270,625 shares during the last quarter. Institutional investors 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.