Analysts Set Ferroglobe PLC (GSM) Price Target at $16.25
Shares of Ferroglobe PLC (NASDAQ:GSM) have been assigned a consensus rating of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $16.25.
GSM has been the topic of a number of research reports. TheStreet downgraded shares of Ferroglobe from a “c-” rating to a “d+” rating in a report on Friday, June 29th. ValuEngine upgraded shares of Ferroglobe from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research downgraded shares of Ferroglobe from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 25th. Stifel Nicolaus cut their price target on shares of Ferroglobe from $19.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, July 13th. Finally, BidaskClub upgraded shares of Ferroglobe from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 23rd.
GSM stock traded down $0.17 during mid-day trading on Tuesday, hitting $7.35. The company had a trading volume of 286,944 shares, compared to its average volume of 740,772. The stock has a market cap of $1.29 billion, a P/E ratio of 56.54 and a beta of 1.50. Ferroglobe has a 12-month low of $7.41 and a 12-month high of $17.61. The company has a quick ratio of 0.66, a current ratio of 1.54 and a debt-to-equity ratio of 0.49.
A number of large investors have recently modified their holdings of the stock. Millennium Management LLC grew its stake in Ferroglobe by 44.8% in the 1st quarter. Millennium Management LLC now owns 5,602,338 shares of the basic materials company’s stock worth $60,113,000 after acquiring an additional 1,733,468 shares in the last quarter. Park West Asset Management LLC bought a new position in Ferroglobe in the 1st quarter worth about $10,730,000. Paradice Investment Management LLC grew its stake in Ferroglobe by 26.6% in the 1st quarter. Paradice Investment Management LLC now owns 4,446,354 shares of the basic materials company’s stock worth $47,709,000 after acquiring an additional 933,319 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Ferroglobe by 53.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,580,156 shares of the basic materials company’s stock worth $13,542,000 after acquiring an additional 548,803 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its stake in Ferroglobe by 43.2% in the 1st quarter. OppenheimerFunds Inc. now owns 1,789,400 shares of the basic materials company’s stock worth $19,201,000 after acquiring an additional 539,680 shares in the last quarter. Institutional investors own 43.20% of the company’s stock.
Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. The company offers silicone chemicals used in a range of applications, including personal care items, construction-related products, health care products, and electronics, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.
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