Ferroglobe (NASDAQ:GSM) Trading 5.2% Higher - Time to Buy?

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) shot up 5.2% during trading on Wednesday . The company traded as high as $3.85 and last traded at $3.86. 174,409 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,132,353 shares. The stock had previously closed at $3.67.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GSM. Seaport Res Ptn lowered Ferroglobe from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 24th. Wall Street Zen upgraded Ferroglobe from a "sell" rating to a "hold" rating in a research report on Saturday, May 31st.

Ferroglobe Trading Up 4.4%

The company has a current ratio of 1.82, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average of $3.60 and a 200 day moving average of $3.84. The company has a market cap of $752.10 million, a P/E ratio of 201.50 and a beta of 1.69.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.08). Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. The firm had revenue of $307.18 million for the quarter, compared to analyst estimates of $336.00 million. On average, analysts predict that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Wednesday, June 18th will be given a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Wednesday, June 18th. Ferroglobe's payout ratio is -15.15%.

Institutional Trading of Ferroglobe

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cooper Creek Partners Management LLC increased its position in shares of Ferroglobe by 2.0% during 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 acquiring an additional 291,201 shares during the last quarter. Hosking Partners LLP raised its stake 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 buying an additional 1,629,431 shares during the period. Wolf Hill Capital Management LP raised its stake in shares of Ferroglobe by 11.0% in 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. raised its stake in shares of Ferroglobe by 9.6% in the first quarter. Donald Smith & CO. Inc. now owns 6,522,510 shares of the basic materials company's stock valued at $24,199,000 after buying an additional 571,459 shares during the period. Finally, Old West Investment Management LLC raised its stake in shares of Ferroglobe by 58.7% in the first quarter. Old West Investment Management LLC now owns 3,435,932 shares of the basic materials company's stock valued at $12,747,000 after buying an additional 1,270,625 shares during the period. 89.64% of the stock is owned by hedge funds and other institutional investors.

About Ferroglobe

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.