Wall Street Zen Upgrades Ferroglobe (NASDAQ:GSM) to "Buy"

Key Points

• Wall Street Zen upgraded Ferroglobe to “Buy” from “Hold,” while Weiss Ratings lowered its already-negative rating to “Sell (D-).” Overall analyst sentiment remains “Hold,” with a consensus target price of $6.00.
• Ferroglobe shares rose 8.7%, opening at $4.49, but the company reported a quarterly loss of $0.07 per share on $347.75 million in revenue. Analysts expect a full-year loss of $0.14 per share.
• Institutional investors increased their positions, and hedge funds and other institutions now own 89.64% of Ferroglobe’s stock, led by holdings from Hosking Partners and Goldman Sachs.

Ferroglobe (NASDAQ:GSM - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings downgraded shares of Ferroglobe from a "sell (d)" rating to a "sell (d-)" rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $6.00.

Ferroglobe Trading Up 8.7%

Shares of GSM opened at $4.49 on Friday. Ferroglobe has a one year low of $3.08 and a one year high of $5.74. The stock has a 50-day moving average price of $3.60 and a 200 day moving average price of $4.23. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.80 and a current ratio of 1.29. The company has a market capitalization of $837.97 million, a P/E ratio of -20.41 and a beta of 1.02.

Ferroglobe (NASDAQ:GSM - Get Free Report) last announced its earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter. Ferroglobe had a negative net margin of 2.96% and a negative return on equity of 3.73%. The business had revenue of $347.75 million during the quarter. Sell-side analysts forecast that Ferroglobe will post -0.14 EPS for the current fiscal year.

Institutional Trading of Ferroglobe

Institutional investors have recently modified their holdings of the company. Hosking Partners LLP grew its holdings in Ferroglobe by 3.1% during the fourth quarter. Hosking Partners LLP now owns 11,215,616 shares of the basic materials company's stock worth $52,040,000 after acquiring an additional 341,194 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Ferroglobe by 87.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,871,942 shares of the basic materials company's stock valued at $22,606,000 after acquiring an additional 2,277,344 shares during the last quarter. Old West Investment Management LLC lifted its holdings in Ferroglobe by 17.3% in the 4th quarter. Old West Investment Management LLC now owns 3,798,781 shares of the basic materials company's stock valued at $17,626,000 after acquiring an additional 560,867 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Ferroglobe by 13.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,141,909 shares of the basic materials company's stock valued at $9,746,000 after purchasing an additional 250,982 shares in the last quarter. Finally, Ardsley Advisory Partners LP bought a new stake in Ferroglobe during the fourth quarter worth approximately $9,837,000. Institutional investors and hedge funds own 89.64% of the company's stock.

About Ferroglobe

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.

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