Ferroglobe PLC (NASDAQ:GSM – Get a rating) received a consensus “Buy” rating from the four rating agencies that currently cover the stock, Marketbeat reports. Two investment analysts gave the stock a buy rating and one gave the company a strong buy rating. The average 1-year price target among brokers who have hedged the stock over the past year is $12.00.
A number of stock analysts have recently released reports on the stock. B. Riley began covering Ferroglobe shares in a research note on Wednesday. They issued a “buy” rating and a price target of $12.00 for the company. StockNews.com upgraded Ferroglobe shares from a “hold” rating to a “strong-buy” rating in a research report on Thursday, Aug. 25.
Institutional investors weigh in on Ferroglobe
Hedge funds have recently changed their positions in the business. Counterpoint Mutual Funds LLC acquired a new equity stake in Ferroglobe during Q1 worth approximately $66,000. The Royal Bank of Canada increased its holdings in Ferroglobe by 1,379.7% during the 1st quarter. Royal Bank of Canada now owns 11,379 shares of the basic materials company worth $88,000 after acquiring 10,610 more shares in the last quarter. Keebeck Alpha LP purchased a new stake in Ferroglobe during Q1 worth approximately $91,000. Virtu Financial LLC purchased a new stake in Ferroglobe during Q1 worth approximately $144,000. Finally, Qube Research & Technologies Ltd took a new stake in Ferroglobe during the 1st quarter for a value of approximately $168,000. Institutional investors and hedge funds hold 40.06% of the company’s shares.
Ferroglobe is trading down 2.6%
GSM shares opened at $6.80 on Wednesday. Ferroglobe has a 52-week low of $4.53 and a 52-week high of $9.94. The stock has a market capitalization of $1.27 billion, a price-earnings ratio of 4.28 and a beta of 2.25. The company has a debt ratio of 0.68, a quick ratio of 1.28 and a current ratio of 1.91. The company has a fifty-day moving average of $6.30 and a 200-day moving average of $6.92.
Ferroglobe Company Profile
Ferroglobe PLC is a holding company engaged in the production of silicon and specialty metals. Its products include silicon metal, manganese alloys, ferrosilicon, calcium-silicon and electrodes. It operates through the following segments: Electrometallurgy-North America, Electrometallurgy-Europe, Electrometallurgy-South Africa and Others.
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