Ferroglobe (GSM) Rating Lowered to D+ at TheStreet

TheStreet cut shares of Ferroglobe (NASDAQ:GSM) from a c- rating to a d+ rating in a research report sent to investors on Friday.

GSM has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price objective on shares of Ferroglobe from $13.50 to $15.00 and gave the company an overweight rating in a report on Wednesday, May 23rd. Zacks Investment Research raised shares of Ferroglobe from a sell rating to a hold rating in a report on Tuesday, May 29th. BidaskClub lowered shares of Ferroglobe from a sell rating to a strong sell rating in a report on Tuesday, June 5th. B. Riley cut their price objective on shares of Ferroglobe from $20.00 to $18.00 and set a buy rating for the company in a report on Wednesday, May 23rd. Finally, Oppenheimer set a $20.00 price objective on shares of Ferroglobe and gave the company a buy rating in a report on Thursday, March 29th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $18.50.

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Ferroglobe opened at $8.25 on Friday, MarketBeat Ratings reports. The company has a market capitalization of $1.47 billion, a P/E ratio of 63.46 and a beta of 1.58. Ferroglobe has a 12-month low of $8.38 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.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Monday, May 21st. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.03. Ferroglobe had a net margin of 3.59% and a return on equity of 6.86%. The company had revenue of $560.70 million during the quarter, compared to analyst estimates of $559.12 million. analysts forecast that Ferroglobe will post 0.95 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 29th. Investors of record on Friday, June 8th were given a $0.06 dividend. The ex-dividend date of this dividend was Thursday, June 7th. This represents a $0.24 dividend on an annualized basis and a yield of 2.91%. Ferroglobe’s dividend payout ratio is presently 184.62%.

A number of institutional investors and hedge funds have recently modified their holdings of GSM. Millennium Management LLC lifted its position in shares of Ferroglobe by 44.8% during the first quarter. Millennium Management LLC now owns 5,602,338 shares of the basic materials company’s stock worth $60,113,000 after purchasing an additional 1,733,468 shares during the last quarter. Park West Asset Management LLC bought a new stake in shares of Ferroglobe during the first quarter worth $10,730,000. Paradice Investment Management LLC lifted its position in shares of Ferroglobe by 26.6% during the first quarter. Paradice Investment Management LLC now owns 4,446,354 shares of the basic materials company’s stock worth $47,709,000 after purchasing an additional 933,319 shares during the last quarter. OppenheimerFunds Inc. lifted its position in shares of Ferroglobe by 43.2% during the first quarter. OppenheimerFunds Inc. now owns 1,789,400 shares of the basic materials company’s stock worth $19,201,000 after purchasing an additional 539,680 shares during the last quarter. Finally, Castleark Management LLC bought a new stake in shares of Ferroglobe during the fourth quarter worth $7,340,000. Institutional investors own 42.71% of the company’s stock.

Ferroglobe Company Profile

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.