Ferroglobe (NASDAQ:GSM) Releases Earnings Results, Beats Estimates By $0.01 EPS

Ferroglobe (NASDAQ:GSM) announced its earnings results on Tuesday. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01, Zacks reports. Ferroglobe had a negative net margin of 9.92% and a negative return on equity of 6.13%.

Ferroglobe Stock Down 8.7%

Ferroglobe stock traded down $0.46 during midday trading on Tuesday, hitting $4.82. 1,949,960 shares of the stock were exchanged, compared to its average volume of 1,202,564. Ferroglobe has a 1 year low of $2.97 and a 1 year high of $5.74. The firm has a market cap of $899.54 million, a P/E ratio of -6.51 and a beta of 1.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.66 and a quick ratio of 0.91. The company has a 50 day moving average price of $4.89 and a two-hundred day moving average price of $4.58.

Hedge Funds Weigh In On Ferroglobe

Several institutional investors and hedge funds have recently made changes to their positions in GSM. Quadrant Capital Group LLC raised its holdings in Ferroglobe by 66.1% in the fourth quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 3,146 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Ferroglobe by 11.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 70,707 shares of the basic materials company’s stock valued at $329,000 after purchasing an additional 7,399 shares in the last quarter. California State Teachers Retirement System bought a new position in shares of Ferroglobe during the second quarter worth about $27,000. Intech Investment Management LLC lifted its position in shares of Ferroglobe by 16.6% during the fourth quarter. Intech Investment Management LLC now owns 69,931 shares of the basic materials company’s stock worth $324,000 after purchasing an additional 9,975 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake 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 worth $37,000 after purchasing an additional 10,173 shares in the last quarter. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on GSM. Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a research note on Thursday, January 22nd. B. Riley Financial lowered their price target on Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Wall Street Zen lowered shares of Ferroglobe from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Finally, Zacks Research raised shares of Ferroglobe from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One research 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. Based on data from MarketBeat, Ferroglobe has an average rating of “Hold” and a consensus target price of $6.00.

About Ferroglobe

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.