Ferroglobe (NASDAQ:GSM) Announces Quarterly Earnings Results

Ferroglobe (NASDAQ:GSM) posted its quarterly earnings data on Tuesday. The basic materials company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02), FiscalAI reports. The firm had revenue of $369.76 million for the quarter, compared to analysts’ expectations of $382.80 million. Ferroglobe had a negative net margin of 2.96% and a negative return on equity of 3.73%.

Ferroglobe Trading Up 0.5%

Ferroglobe stock traded up $0.02 during mid-day trading on Tuesday, hitting $3.86. The stock had a trading volume of 1,221,366 shares, compared to its average volume of 1,391,707. The stock has a 50-day simple moving average of $4.16 and a two-hundred day simple moving average of $4.23. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $720.38 million, a PE ratio of -17.55 and a beta of 1.06. Ferroglobe has a 12 month low of $3.08 and a 12 month high of $5.66.

Insider Buying and Selling at Ferroglobe

In other news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $4.30, for a total transaction of $138,855.60. Following the completion of the transaction, the insider directly owned 31,693 shares in the company, valued at approximately $136,279.90. The trade was a 50.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on GSM. Wall Street Zen upgraded shares of Ferroglobe from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ferroglobe in a research report on Monday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ferroglobe currently has an average rating of “Hold” and a consensus price target of $6.00.

Ferroglobe Company Profile

Ferroglobe PLC (NASDAQ:GSM) is a global producer of silicon and manganese-based alloys. The company manufactures silicon metal, ferrosilicon, manganese alloys, calcium silicon and other specialty alloy products used in the production of steel, aluminum, silicones, solar materials and other industrial goods.

Ferroglobe also operates quartz resources and produces related raw materials used in its alloy manufacturing processes. Its products support several industries, including automotive, construction, energy, chemicals, electronics and renewable energy.