Shares of Ferroglobe PLC (NASDAQ:GSM) have been assigned an average recommendation of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $13.00.
A number of research analysts have recently weighed in on GSM shares. Jefferies Group LLC restated a “positive” rating and issued a $17.00 target price (up previously from $12.00) on shares of Ferroglobe PLC in a report on Friday, August 18th. Zacks Investment Research upgraded Ferroglobe PLC from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Wednesday, July 12th. BidaskClub upgraded Ferroglobe PLC from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Stifel Nicolaus restated a “buy” rating on shares of Ferroglobe PLC in a report on Sunday, September 3rd. Finally, B. Riley restated a “buy” rating and issued a $16.00 target price (up previously from $14.25) on shares of Ferroglobe PLC in a report on Tuesday, August 29th.
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Shares of Ferroglobe PLC (NASDAQ:GSM) traded up 0.77% during midday trading on Friday, hitting $13.17. The stock had a trading volume of 446,167 shares. The firm’s market cap is $2.26 billion. Ferroglobe PLC has a 52 week low of $8.33 and a 52 week high of $14.46. The company’s 50 day moving average is $13.20 and its 200 day moving average is $11.25.
Several hedge funds have recently bought and sold shares of GSM. Geode Capital Management LLC lifted its holdings in Ferroglobe PLC by 5.3% during the first quarter. Geode Capital Management LLC now owns 149,294 shares of the basic materials company’s stock worth $1,542,000 after acquiring an additional 7,523 shares during the period. Hosking Partners LLP lifted its holdings in Ferroglobe PLC by 1.6% during the second quarter. Hosking Partners LLP now owns 450,794 shares of the basic materials company’s stock worth $5,387,000 after acquiring an additional 7,283 shares during the period. Comerica Bank bought a new stake in Ferroglobe PLC during the second quarter worth $2,899,000. Deprince Race & Zollo Inc. bought a new stake in Ferroglobe PLC during the first quarter worth $3,547,000. Finally, B. Riley Financial Inc. lifted its holdings in Ferroglobe PLC by 1,389.1% during the first quarter. B. Riley Financial Inc. now owns 340,000 shares of the basic materials company’s stock worth $3,512,000 after acquiring an additional 317,167 shares during the period. Institutional investors own 38.15% of the company’s stock.
Ferroglobe PLC Company Profile
Ferroglobe PLC, formerly VeloNewco Limited, is engaged in silicon and specialty metals industry. The Company produces silicon metal and silicon- and manganese-based alloy, which serves customers in the chemical, aluminum, solar, steel and ductile iron foundry industries. It operates through two segments: Electrometallurgy and Energy.
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