Ferroglobe (NASDAQ:GSM) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Ferroglobe (NASDAQ:GSM) from a hold rating to a buy rating in a research report released on Saturday morning.

Separately, Weiss Ratings downgraded shares of Ferroglobe from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.00.

Ferroglobe Stock Up 8.7%

Shares of GSM stock opened at $4.49 on Friday. The stock’s fifty day moving average price is $3.60 and its 200 day moving average price is $4.23. Ferroglobe has a 1-year low of $3.08 and a 1-year high of $5.74. The company has a market cap of $837.97 million, a price-to-earnings ratio of -20.41 and a beta of 1.02. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.80.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) EPS for the quarter. The business had revenue of $347.75 million during the quarter. Ferroglobe had a negative net margin of 2.96% and a negative return on equity of 3.73%. On average, research analysts expect that Ferroglobe will post -0.18 earnings per share for the current fiscal year.

Ferroglobe Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd will be paid a $0.015 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a $0.06 dividend on an annualized basis and a yield of 1.3%. Ferroglobe’s dividend payout ratio (DPR) is -27.27%.

Institutional Trading of Ferroglobe

Large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System acquired a new position in shares of Ferroglobe in the second quarter valued at about $27,000. Quadrant Capital Group LLC lifted its holdings in shares of Ferroglobe by 66.1% during the fourth quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 3,146 shares during the period. BNP Paribas Financial Markets boosted its position in Ferroglobe by 1,017,300.0% in the second quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock valued at $37,000 after buying an additional 10,173 shares during the last quarter. R Squared Ltd acquired a new position in Ferroglobe in the 1st quarter worth approximately $44,000. Finally, PFG Investments LLC acquired a new position in Ferroglobe in the 1st quarter worth approximately $45,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Ferroglobe Company Profile

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.