Ferroglobe (NASDAQ:GSM) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Ferroglobe (NASDAQ:GSM) from a hold rating to a buy rating in a report issued on Tuesday.

Ferroglobe Stock Performance

NASDAQ GSM opened at $4.98 on Tuesday. The company has a fifty day simple moving average of $4.91 and a 200 day simple moving average of $5.26. Ferroglobe has a 12-month low of $3.95 and a 12-month high of $6.78. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22. The company has a market cap of $933.40 million, a P/E ratio of 10.83 and a beta of 2.00.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings results on Wednesday, February 21st. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. Ferroglobe had a net margin of 5.29% and a return on equity of 16.74%. The business had revenue of $375.95 million during the quarter, compared to the consensus estimate of $318.80 million. Sell-side analysts predict that Ferroglobe will post 0.26 earnings per share for the current fiscal year.

Ferroglobe Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.013 per share. This represents a $0.05 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, March 21st. Ferroglobe’s dividend payout ratio is 10.87%.

Hedge Funds Weigh In On Ferroglobe

A number of hedge funds have recently bought and sold shares of GSM. Royal Bank of Canada raised its stake in shares of Ferroglobe by 44,350.0% during the 3rd quarter. Royal Bank of Canada now owns 5,334 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 5,322 shares during the period. Osaic Holdings Inc. raised its stake in shares of Ferroglobe by 38.1% during the 2nd quarter. Osaic Holdings Inc. now owns 7,554 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 2,083 shares during the period. Verition Fund Management LLC bought a new stake in shares of Ferroglobe during the 4th quarter worth $39,000. HighTower Advisors LLC bought a new stake in shares of Ferroglobe during the 4th quarter worth $44,000. Finally, CI Private Wealth LLC bought a new stake in shares of Ferroglobe during the 4th quarter worth $46,000. 89.64% of the stock is owned by hedge funds and other institutional investors.

About Ferroglobe

Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. It provides silicone chemicals that are 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.