Ferroglobe (NASDAQ:GSM) Upgraded to Buy by StockNews.com

Ferroglobe (NASDAQ:GSM) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Ferroglobe Stock Performance

Shares of GSM stock opened at $4.94 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.32 and a current ratio of 2.10. The company has a market capitalization of $925.90 million, a P/E ratio of 10.74 and a beta of 2.00. The company’s 50 day moving average price is $4.93 and its two-hundred day moving average price is $5.26. Ferroglobe has a 52 week low of $3.95 and a 52 week high of $6.78.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Wednesday, February 21st. The basic materials company reported $0.09 EPS for the quarter, topping 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 firm had revenue of $375.95 million for the quarter, compared to the consensus estimate of $318.80 million. On average, analysts expect that Ferroglobe will post 0.26 earnings per share for the current fiscal year.

Institutional Trading of Ferroglobe

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wolf Hill Capital Management LP raised its holdings in shares of Ferroglobe by 12.8% in the second quarter. Wolf Hill Capital Management LP now owns 10,576,354 shares of the basic materials company’s stock valued at $50,449,000 after purchasing an additional 1,199,124 shares during the last quarter. Millennium Management LLC grew its stake in shares of Ferroglobe by 32.5% in the fourth quarter. Millennium Management LLC now owns 5,408,473 shares of the basic materials company’s stock valued at $20,823,000 after buying an additional 1,327,742 shares in the last quarter. Hosking Partners LLP grew its stake in shares of Ferroglobe by 19.3% in the third quarter. Hosking Partners LLP now owns 5,195,665 shares of the basic materials company’s stock valued at $27,017,000 after buying an additional 840,629 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Ferroglobe by 3.4% in the fourth quarter. Marshall Wace LLP now owns 4,610,322 shares of the basic materials company’s stock valued at $17,750,000 after buying an additional 150,728 shares in the last quarter. Finally, Boston Partners grew its stake in shares of Ferroglobe by 5.8% in the third quarter. Boston Partners now owns 4,252,458 shares of the basic materials company’s stock valued at $22,113,000 after buying an additional 233,114 shares in the last quarter. 89.64% of the stock is currently owned by institutional investors and hedge funds.

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.