Ferroglobe PLC (NASDAQ:GSM – Get Rating) – Investment analysts at B. Riley dropped their FY2022 earnings per share estimates for Ferroglobe in a research report issued to clients and investors on Tuesday, September 27th. B. Riley analyst L. Pipes now forecasts that the basic materials company will earn $2.76 per share for the year, down from their prior forecast of $2.86. B. Riley has a "Buy" rating and a $12.00 price objective on the stock. The consensus estimate for Ferroglobe's current full-year earnings is $2.93 per share.
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Separately, StockNews.com upgraded Ferroglobe from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 25th.
Ferroglobe Price Performance
NASDAQ:GSM opened at $5.28 on Thursday. Ferroglobe has a 52 week low of $4.53 and a 52 week high of $9.94. The company has a quick ratio of 1.28, a current ratio of 1.91 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $989.01 million, a PE ratio of 3.32 and a beta of 2.25. The stock's 50-day moving average price is $6.40 and its 200-day moving average price is $6.73.
Hedge Funds Weigh In On Ferroglobe
Several institutional investors have recently modified their holdings of the business. State Street Corp grew its stake in shares of Ferroglobe by 4.6% during the first quarter. State Street Corp now owns 33,691 shares of the basic materials company's stock worth $259,000 after purchasing an additional 1,477 shares in the last quarter. GSA Capital Partners LLP lifted its position in Ferroglobe by 5.1% in the first quarter. GSA Capital Partners LLP now owns 69,576 shares of the basic materials company's stock valued at $536,000 after acquiring an additional 3,406 shares during the last quarter. Confluence Investment Management LLC lifted its position in Ferroglobe by 13.9% in the first quarter. Confluence Investment Management LLC now owns 45,771 shares of the basic materials company's stock valued at $352,000 after acquiring an additional 5,603 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Ferroglobe in the first quarter valued at $66,000. Finally, UBS Group AG raised its holdings in shares of Ferroglobe by 28.6% in the second quarter. UBS Group AG now owns 43,250 shares of the basic materials company's stock valued at $257,000 after buying an additional 9,623 shares during the last quarter. Institutional investors and hedge funds own 40.06% of the company's stock.
About Ferroglobe
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Ferroglobe PLC is a holding company, which engages 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 Other.
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