Old West Investment Management LLC Purchases 146,395 Shares of Ferroglobe PLC $GSM

Old West Investment Management LLC raised its position in Ferroglobe PLC (NASDAQ:GSM) by 4.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,237,914 shares of the basic materials company’s stock after purchasing an additional 146,395 shares during the period. Ferroglobe makes up about 3.4% of Old West Investment Management LLC’s investment portfolio, making the stock its 10th biggest holding. Old West Investment Management LLC’s holdings in Ferroglobe were worth $14,733,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GSM. State of Alaska Department of Revenue bought a new stake in shares of Ferroglobe during the third quarter valued at approximately $32,000. California State Teachers Retirement System bought a new stake in Ferroglobe in the 2nd quarter valued at $27,000. BNP Paribas Financial Markets raised its stake in shares of Ferroglobe by 1,017,300.0% in the 2nd 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 in the last quarter. Truist Financial Corp acquired a new position in shares of Ferroglobe in the 3rd quarter valued at $46,000. Finally, R Squared Ltd bought a new position in shares of Ferroglobe during the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

Ferroglobe Stock Performance

NASDAQ:GSM opened at $5.16 on Friday. The stock has a market capitalization of $963.01 million, a P/E ratio of -6.97 and a beta of 1.09. The company has a current ratio of 1.66, a quick ratio of 0.91 and a debt-to-equity ratio of 0.07. Ferroglobe PLC has a 1 year low of $2.97 and a 1 year high of $5.74. The firm has a 50 day moving average of $4.81 and a 200-day moving average of $4.55.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). Ferroglobe had a negative net margin of 9.92% and a negative return on equity of 6.13%. The business had revenue of $311.70 million for the quarter, compared to analyst estimates of $393.80 million. As a group, sell-side analysts anticipate that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on GSM shares. Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a research note on Thursday, January 22nd. B. Riley Financial decreased their price objective on Ferroglobe from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Wall Street Zen cut Ferroglobe from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Finally, Zacks Research upgraded Ferroglobe from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Ferroglobe 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.